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155 Trackside Road Troutman, NC 28166

3 Beds 2 Baths 1,893 sqft Built 1956

$213,750

List Price

$1,200

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 1956
  • Price/Sqft : $112.92
  • 5 Days on Market
  • MLS # : 3677741
  • Updated Date : 11/06/2020 at 16:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,893 sqft
  • Baths : 2 full
Listing Agent

Mooresville Realty Llc

Listing Agent's Description

Room to stretch out with just under two acres, possible to subdivide and build! Hardwood floors hidden under carpet, roof replaced in 2014, lots of possibilities. Convenient to town, major highway. Ranch home with wonderful opportunity for a multi-generational, in-law suite or apartment in basement, separate entrance.

SEE MORE

MARKET HIGHLIGHTS

  • 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: 28166

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $106k261k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 28166

ZipNIR Market*CityMarket2010Year20002019 Q280085090095010001050110011501200125013001350Rent in $7581375

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Troutman Elementary School Primary Regular 757 45 6
Troutman Middle School Middle Regular 436 25 4
South Iredell High School High Regular 1,505 92 5

Troutman Elementary School

  • Education Level: Primary
  • # of students: 757
  • # of teachers: 45
6
GreatSchools Rating

Troutman Middle School

  • Education Level: Middle
  • # of students: 436
  • # of teachers: 25
4
GreatSchools Rating

South Iredell High School

  • Education Level: High
  • # of students: 1,505
  • # of teachers: 92
5
GreatSchools Rating
 

$192,375$235,125$213,750

PURCHASE PRICE

$1,080$1,320$1,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,200
EXPENSES Loan Payment -$789
Property Tax -$164
Property Insurance -$62
Property Management Fees -$108
CASH FLOW
$77

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.

$213,750

PROJECTED PRICE

$1,200

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 5.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,394

INVESTMENT

$62,394

Down Payment
$53,438
Rehab Estimate
$5,750
Closing Costs
$3,206

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$789

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,438
Loan Amount $160,313
See What Happens When You Reinvest Cash Flow

6

YEARS SAVED

$17,366

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,200

    LIST RENT
  • $0.64

    LIST RENT PER SQFT
  • $1,328

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,2003$1,2004$1,345
$1,345
RENT COMPS ANALYSIS
  • 155 Trackside Road Troutman, NC 3
    • 3 beds 2 baths ∙ 1,861 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,861 Sqft ∙ Built 1956
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.64
    •  
  • 107 Perry Road Troutman, NC 1
    • 3 beds 1 baths ∙ 1,628 Sqft ∙ Built 1939 3 beds 1 baths ∙ 1,628 Sqft ∙ Built 1939
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.68
    •  
  • 149 Jacobs Woods Circle Troutman, NC 2
    • 3 beds 2 baths ∙ 1,566 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,566 Sqft ∙ Built 2004
    LEASED 05/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.77
    •  
  • 748 Georgie Street Troutman, NC 4
    • 3 beds 3 baths ∙ 1,952 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,952 Sqft ∙ Built 2002
    LEASED 02/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $0.69
    •  
PROPERTY LISTING DETAILS
Jj Morse
1.704.663.9067
Mooresville Realty Llc
BESbswy