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PROPERTY INFO
FACTS
- Single Family
- Built In 1952
- Price/Sqft : $126.53
- 21 Days on Market
- MLS # : 3703471
- Updated Date : 02/21/2021 at 00:05
CONSTRUCTION
- Beds : 3
- Floor Size : 1,304 sqft
- Baths : 1 full
Listing Agent
Re/max Executive
Listing Agent's Description
Cozy 3BR/1BA in Mooresville with basement! A welcoming covered front porch greets you with room for rocking chairs to enjoy country views. Enter into a home filled with natural light and neutral paint throughout most of the home with no carpet! Spacious kitchen with ample countertop and cabinet space, including two windows over the sink! Main living areas and bedrooms featuring hardwood floors and plentiful closet space. Move outside to enjoy large, mature trees on 1 acre! 2-car carport, shed, and extremely large workshop building! Property has separate living quarters for potential rental income with its own address and septic.
SEE MORE
- Charlotte metro's economy is worth $181 billion in Gross Metro Product and projected to grow to $192 billion in 2019 (USMayors.org, 2018)
- #1 Millenial Moving destination city (Smart Asset)
- Corporate Fortune 500 headquarters: Bank of America, Lowe’s, Duke Energy, Nucor, Family Dollar Stores, Sonic Automotive, Domtar
- #3 fastest-growing big city in US with more than 15,000 people added in 2017 (US Census, 2018)
- Charlotte metro has 65.8% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
- Charlotte attracted more than $325 million in capital investments in 2018Q2 (Meckelenburg county, June 2018)
PRICE & RENT TRENDS
Zip Code: 28115
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 28115
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,090 |
| EXPENSES | Loan Payment | -$573 |
| Property Tax | -$69 | |
| Property Insurance | -$52 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$278
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.
$165,000
PROJECTED PRICE
$1,090
PROJECTED RENT
0.66%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.98% |
| Appreciation Year (1-5) | 5.4% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.57% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$49,475
LOAN DETAILS
$573
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $41,250 |
| Loan Amount | $123,750 |
13.42
YEARS SAVED
$35,345
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,090
LIST RENT -
$0.84
LIST RENT PER SQFT
-
$1,157
COMP ESTIMATED VALUE -
$0.89
COMP AVG. RENT PER SQFT
Comps Range
-
152 Shepherd Road Mooresville, NC 1
- 3 beds 1 baths ∙ 1,304 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,304 Sqft ∙ Built 1952
- Rent
- Rent Per SQFT
- $1,090
- $0.84
-
1860 Charlotte Highway Mooresville, NC 2
- 3 beds 1 baths ∙ 1,432 Sqft ∙ Built 1949 3 beds 1 baths ∙ 1,432 Sqft ∙ Built 1949
LEASED 03/13/20- Rent
- Rent Per SQFT
- $1,200
- $0.84
-
108 Endicott Court Mooresville, NC 3
- 3 beds 3 baths ∙ 1,472 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,472 Sqft ∙ Built 1999
LEASED 10/21/19- Rent
- Rent Per SQFT
- $1,295
- $0.88
-
110 Hartine Court Mooresville, NC 4
- 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 2001
LEASED 06/19/20- Rent
- Rent Per SQFT
- $1,325
- $0.94
-
162 Nahcotta Drive Mooresville, NC 5
- 3 beds 3 baths ∙ 1,560 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,560 Sqft ∙ Built 1999
LEASED 03/17/20- Rent
- Rent Per SQFT
- $1,395
- $0.89
PROPERTY LISTING DETAILS
1.336.830.5420
Re/max Executive
MLS #: 3703471
Last Updated: 02/21/2021
