Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

167 Golden Valley Drive Mooresville, NC 28115

4 Beds 3 Baths 2,752 sqft Built 2005

$300,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $109.01
  • 4 Days on Market
  • MLS # : 3702573
  • Updated Date : 02/05/2021 at 15:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,752 sqft
  • Baths : 3 full
Listing Agent

Re/max Executive

Listing Agent's Description

This home has so much to offer- On main level Living Room/Office- Formal Dining Room- Large Great Room open to kitchen with New Upgrades-Sunroom leading to Deck and Beautiful Fenced Back Yard- Bedroom and Full Bath. Upstairs Large Master and Master Bath- Two other Bedrooms and Huge Bedroom/Bonus. Subdivision offers Club House & Pool.

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: Linwood Farms

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Neighborhood: Linwood Farms

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441809

* 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
Rocky River Elementary School Primary Regular 637 40 7
Mooresville Middle School Middle Regular 1,023 53 4
Mooresville High School High Regular 1,787 78 8

Rocky River Elementary School

  • Education Level: Primary
  • # of students: 637
  • # of teachers: 40
7
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
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,042
Property Tax -$297
Property Insurance -$79
HOA -$30
Property Management Fees -$119
CASH FLOW
$233

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.

$300,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
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

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$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

9.5

YEARS SAVED

$39,766

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $1,871

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,8003$1,8004$1,8505$1,895
$1,895
RENT COMPS ANALYSIS
  • 167 Golden Valley Drive Mooresville, NC 3
    • 4 beds 3 baths ∙ 2,752 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,752 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.65
    •  
  • 107 Lacona Trace Mooresville, NC 1
    • 4 beds 3 baths ∙ 2,486 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,486 Sqft ∙ Built 2007
    LEASED 10/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.68
    •  
  • 157 King William Drive Mooresville, NC 2
    • 4 beds 3 baths ∙ 2,645 Sqft ∙ Built 4 beds 3 baths ∙ 2,645 Sqft ∙ Built
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.68
    •  
  • 115 Queensway Lane Mooresville, NC 4
    • 5 beds 3 baths ∙ 2,900 Sqft ∙ Built 2017 5 beds 3 baths ∙ 2,900 Sqft ∙ Built 2017
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.64
    •  
  • 145 Eden Avenue Mooresville, NC 5
    • 4 beds 3 baths ∙ 2,628 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,628 Sqft ∙ Built 2018
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.72
    •  
PROPERTY LISTING DETAILS
Brenda Cline
1.704.305.2716
Re/max Executive
BESbswy