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165 Willow Valley Drive #124 Mooresville, NC 28115

4 Beds 2 Baths 1,715 sqft Built 2018

$299,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $174.34
  • 2 Days on Market
  • MLS # : 3692184
  • Updated Date : 12/19/2020 at 17:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,715 sqft
  • Baths : 2 full
Listing Agent

Mossy Oak Properties Land And Luxury

Listing Agent's Description

Located in the cozy neighborhood of Heritage at Neel Ranch, just outside of downtown Mooresville. This beautiful ranch home has 4 bedrooms and 2 full baths. The immaculate kitchen is a must see. There is new paint throughout the home and luxury vinyl plank flooring in the main areas. There are ceiling fans in all the rooms as well as updated light fixtures. This home has all the extras you are looking for with the Nest Smart Thermostat and Smart Home Security. Look no further for the perfect backyard oasis featuring fenced in yard and extended patio and pergola.

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: 28115

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $113k288k

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

Zip Code: 28115

ZipNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8421614

* 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.
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$1,103
Property Tax -$278
Property Insurance -$59
HOA -$55
Property Management Fees -$119
CASH FLOW
$5

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.

$299,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$18,764

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,518

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,349
1$1,3492$1,3753$1,3954$1,6205$1,645
$1,645
RENT COMPS ANALYSIS
  • 165 Willow Valley Drive Mooresville, NC 4
    • 4 beds 2 baths ∙ 1,715 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,715 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.94
    •  
  • 255 Sweet Martha Drive Mooresville, NC 1
    • 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1999
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,349
    • $0.84
    •  
  • 135 Devon Forest Drive Mooresville, NC 2
    • 3 beds 3 baths ∙ 1,594 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,594 Sqft ∙ Built 1999
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.86
    •  
  • 146 Chere Helen Drive Mooresville, NC 3
    • 4 beds 3 baths ∙ 1,548 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,548 Sqft ∙ Built 2000
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.90
    •  
  • 121 Rockhopper Lane Mooresville, NC 5
    • 4 beds 4 baths ∙ 1,758 Sqft ∙ Built 2020 4 beds 4 baths ∙ 1,758 Sqft ∙ Built 2020
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.94
    •  
PROPERTY LISTING DETAILS
Neil Perry
1.704.239.6453
Mossy Oak Properties Land And Luxury
BESbswy