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160 Glynwater Drive Mooresville, NC 28117

3 Beds 3 Baths 2,351 sqft Built 1995

$364,900

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $155.21
  • 6 Days on Market
  • MLS # : 3715704
  • Updated Date : 03/27/2021 at 07:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,351 sqft
  • Baths : 2 full , 1 half
Listing Agent

My Townhome

Listing Agent's Description

Fantastic move in ready home in desirable Mooresville. This home has a great open floor plan, on demand water heater, newly painted interior and freshly pressure washed exterior. This is one of the largest floor plans in the neighborhood and a rare 3 car garage! Master down with a large deck with pergola on a flat lot, this home is convenient to I 77 , historic Mooresville , highly rated Mooresville schools, Mooresville Municipal Golf course and everything Lake Norman has to offer.

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

Neighborhood: Glynwater

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $74k288k

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

Neighborhood: Glynwater

NeighborhoodNIR Market*CityMarket2010Year20002019 Q27008009001000110012001300140015001600Rent in $6771614

* 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
South Elementary School Primary Regular 559 34 6
Mooresville Middle School Middle Regular 1,023 53 4
Mooresville High School High Regular 1,787 78 8

South Elementary School

  • Education Level: Primary
  • # of students: 559
  • # of teachers: 34
6
GreatSchools Rating

Mooresville Middle School

  • Education Level: Middle
  • # of students: 1,023
  • # of teachers: 53
4
GreatSchools Rating

Mooresville High School

  • Education Level: High
  • # of students: 1,787
  • # of teachers: 78
8
GreatSchools Rating
 

$328,410$401,390$364,900

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,267
Property Tax -$340
Property Insurance -$71
HOA -$12
Property Management Fees -$119
CASH FLOW
-$129

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$364,900

PROJECTED PRICE

$1,680

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 3.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.02%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$102,449

INVESTMENT

$102,449

Down Payment
$91,225
Rehab Estimate
$5,750
Closing Costs
$5,474

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,267

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $91,225
Loan Amount $273,675
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$10,296

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
  • $0.71

    LIST RENT PER SQFT
  • $1,734

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5503$1,6504$1,6805$1,735
$1,735
RENT COMPS ANALYSIS
  • 160 Glynwater Drive Mooresville, NC 4
    • 3 beds 3 baths ∙ 2,351 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,351 Sqft ∙ Built 1995
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.71
    •  
  • 107 Rolling Stone Court Mooresville, NC 1
    • 4 beds 3 baths ∙ 2,192 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,192 Sqft ∙ Built 1997
    property image
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.66
    •  
  • 215 Rose Street Mooresville, NC 2
    • 4 beds 3 baths ∙ 2,014 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,014 Sqft ∙ Built 1993
    property image
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.77
    •  
  • 102 Easy Street Mooresville, NC 3
    • 4 beds 3 baths ∙ 2,176 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,176 Sqft ∙ Built 1997
    property image
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.76
    •  
  • 111 Rolling Stone Court Mooresville, NC 5
    • 4 beds 3 baths ∙ 2,277 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,277 Sqft ∙ Built 1997
    property image
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,735
    • $0.76
    •  
PROPERTY LISTING DETAILS
Steve Daigle
1.704.496.3679
My Townhome
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3715704
Last Updated: 03/27/2021
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