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157 Fesperman Circle #130 Troutman, NC 28166

3 Beds 3 Baths 2,403 sqft Built 2018

$295,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $122.76
  • 3 Days on Market
  • MLS # : 3701358
  • Updated Date : 01/22/2021 at 21:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,403 sqft
  • Baths : 2 full , 1 half
Listing Agent

Allen Tate Southpark

Listing Agent's Description

No need to wait on a new build!!!! This Beautiful 2 Story Home has all the upgrades you need. Hardwood floors through out the main floor. Gorgeous Kitchen Island with granite counter top and Open concept! Upstairs has a big loft for entertainment and the master suite is grand!!! Don't miss this opportunity and schedule your tour NOW.

SEE MORE

MARKET HIGHLIGHTS

  • 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: 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
Shepherd Elementary School Primary Regular 491 29 5
Troutman Middle School Middle Regular 436 25 4
South Iredell High School High Regular 1,505 92 5

Shepherd Elementary School

  • Education Level: Primary
  • # of students: 491
  • # of teachers: 29
5
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
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,025
Property Tax -$129
Property Insurance -$72
HOA -$25
Property Management Fees -$119
CASH FLOW
$270

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.

$295,000

PROJECTED PRICE

$1,640

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,025

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

10.08

YEARS SAVED

$43,510

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,658

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,4853$1,6254$1,640
$1,640
RENT COMPS ANALYSIS
  • 157 Fesperman Circle Troutman, NC 4
    • 3 beds 3 baths ∙ 2,403 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,403 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.68
    •  
  • 112 Powder Horn Road Mooresville, NC 1
    • 3 beds 2 baths ∙ 2,250 Sqft ∙ Built 1973 3 beds 2 baths ∙ 2,250 Sqft ∙ Built 1973
    LEASED 11/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.58
    •  
  • 244 Fesperman Circle Troutman, NC 2
    • 3 beds 3 baths ∙ 2,064 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,064 Sqft ∙ Built 2016
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,485
    • $0.72
    •  
  • 298 Fesperman Circle Troutman, NC 3
    • 4 beds 3 baths ∙ 2,107 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,107 Sqft ∙ Built 2015
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.77
    •  
PROPERTY LISTING DETAILS
Brian Sanchez
1.864.415.5504
Allen Tate Southpark
BESbswy