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154 King William Drive 
Mooresville, NC
28115
3 Beds 3 Baths 2,299 sqft
Built 2018
INVESTimate
$279,000
List Price
$79,685
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PROPERTY INFO
FACTS
- Built In 2018
- Price/Sqft : $121.36
- 2 Days on Market
- MLS # : 3655733
- Updated Date : 08/25/2020 at 23:20
CONSTRUCTION
- Beds : 3
- Floor Size : 2,299 sqft
- Baths : 2 full , 1 half
Listing Agent
Southern Homes Of The Carolinas
Listing Agent's Description
Kensington Village 2 story ready for new owner! Attractive home with stone accents and covered front porch features fenced backyard, 2 car garage, and great location close to downtown Mooresville. Inside you will love the vinyl plank flooring throughout the first floor, open floor plan, and pretty white kitchen. Kitchen has white cabinets, granite counters, center island, pantry, stainless appliances, and stylish white subway tile. Bonus - refrigerator, washer and dryer remain! Upstairs you will find a loft that is a great bonus space - could be a den, game room or home office. Master bedroom with vaulted ceiling has bathroom with 2 sink vanity, large shower and big walk in closet. 2 secondary bedroom both have walk in closets! Ring doorbell and Smart home system stay with new owner! Almost new and move in ready!
SEE MORE
- 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)
- 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)
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
Sorry, we do not have sufficient school data for this neighborhood.
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,680 |
| EXPENSES | Loan Payment | -$1,029 |
| Property Tax | -$260 | |
| Property Insurance | -$70 | |
| HOA | -$63 | |
| Property Management Fees | -$151 | |
|
CASH FLOW
$107
|
||
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.
$279,000
PROJECTED PRICE
$1,680
PROJECTED RENT
0.60%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.98% |
| Appreciation Year (1-5) | 5.37% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.57% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$79,685
LOAN DETAILS
$1,029
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $69,750 |
| Loan Amount | $209,250 |
5.67
YEARS SAVED
$21,777
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,680
LIST RENT -
$0.73
LIST RENT PER SQFT
-
$1,747
COMP ESTIMATED VALUE -
$0.76
COMP AVG. RENT PER SQFT
Comps Range
-
154 King William Drive Mooresville, NC 3
- 3 beds 3 baths ∙ 2,299 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,299 Sqft ∙ Built 2018
- Rent
- Rent Per SQFT
- $1,680
- $0.73
-
121 S Cromwell Drive Mooresville, NC 1
- 3 beds 3 baths ∙ 2,300 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,300 Sqft ∙ Built 2007
LEASED 09/18/19- Rent
- Rent Per SQFT
- $1,495
- $0.65
-
143 N Cromwell Drive Mooresville, NC 2
- 4 beds 3 baths ∙ 2,231 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,231 Sqft ∙ Built 2019
LEASED 06/02/20- Rent
- Rent Per SQFT
- $1,675
- $0.75
-
138 N Cormwell Drive Mooresville, NC 4
- 3 beds 3 baths ∙ 2,210 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,210 Sqft ∙ Built 2019
LEASED 10/22/19- Rent
- Rent Per SQFT
- $1,750
- $0.79
-
180 King William Drive Mooresville, NC 5
- 4 beds 3 baths ∙ 2,231 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,231 Sqft ∙ Built 2019
LEASED 08/07/20- Rent
- Rent Per SQFT
- $1,800
- $0.81
PROPERTY LISTING DETAILS
1.704.661.3063
Southern Homes Of The Carolinas
