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PROPERTY INFO
FACTS
- Single Family
- Built In 1992
- Price/Sqft : $104.68
- 2 Days on Market
- MLS # : 3693659
- Updated Date : 12/26/2020 at 06:34
CONSTRUCTION
- Beds : 3
- Floor Size : 1,624 sqft
- Baths : 2 full
Listing Agent
Covo Realty
Listing Agent's Description
Newly updated and spacious home on a large corner lot. Large auto shop with unfinished area above that could easily be finished into an apartment, office or she shed/mancave. New laminate flooring, freshly painted in neutral greige, new light fixtures and ceiling fans, new doors and knobs, crown molding and trim. Move in ready. Close to downtown, shopping and the interstate.
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 | $1,460 |
| EXPENSES | Loan Payment | -$627 |
| Property Tax | -$158 | |
| Property Insurance | -$58 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$498
|
||
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.
$170,000
PROJECTED PRICE
$1,460
PROJECTED RENT
0.86%
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
$50,800
LOAN DETAILS
$627
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $42,500 |
| Loan Amount | $127,500 |
16.58
YEARS SAVED
$55,244
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,460
LIST RENT -
$0.9
LIST RENT PER SQFT
-
$1,470
COMP ESTIMATED VALUE -
$0.9
COMP AVG. RENT PER SQFT
Comps Range
-
157 Whitman Circle Mooresville, NC 5
- 3 beds 2 baths ∙ 1,624 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,624 Sqft ∙ Built 1992
- Rent
- Rent Per SQFT
- $1,460
- $0.90
-
122 Bellelaine Drive Mooresville, NC 1
- 4 beds 3 baths ∙ 1,662 Sqft ∙ Built 1998 4 beds 3 baths ∙ 1,662 Sqft ∙ Built 1998
LEASED 01/15/20- Rent
- Rent Per SQFT
- $1,395
- $0.84
-
162 Nahcotta Drive Mooresville, NC 2
- 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
-
126 Nahcotta Drive Mooresville, NC 3
- 3 beds 3 baths ∙ 1,472 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,472 Sqft ∙ Built 1999
LEASED 04/06/20- Rent
- Rent Per SQFT
- $1,395
- $0.95
-
661 Emerson Drive Mooresville, NC 4
- 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1990
LEASED 10/01/20- Rent
- Rent Per SQFT
- $1,395
- $0.94
PROPERTY LISTING DETAILS
1.704.492.4106
Covo Realty
