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

168 Eastwood Drive Statesville, NC 28625

4 Beds 4 Baths 2,786 sqft Built 1992

$329,900

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $118.41
  • 17 Days on Market
  • MLS # : 3711956
  • Updated Date : 03/13/2021 at 14:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,786 sqft
  • Baths : 3 full , 1 half
Listing Agent

Allen Tate Statesville

Listing Agent's Description

Welcome to this 4 bedroom 3.5 bath full brick home with 2 Master suites and a split bedroom floorplan! Beautiful home is move in ready! Large bedrooms. Great room with a masonry fireplace, gas logs and cathedral ceiling. Breakfast area opens to the updated kitchen! Updated kitchen features white cabinets, stainless steel appliances, downdraft hood and a wine fridge. Updated bathrooms with walk-in tile showers. Wide plank handscraped wood floors. Enjoy the upcoming spring evenings from the covered rear porch! Backyard is fenced with a privacy fence and has a outbuilding. Great neighborhood close to I77 and I40 for easy commutes.

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: 28625

ZipNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200kPrice in $59k213k

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

Zip Code: 28625

ZipNIR Market*CityMarket2010Year20002019 Q275080085090095010001050110011501200125013001350Rent in $7481375

* 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
East Iredell Elementary School Primary Regular 851 52 2
East Middle School Middle Regular 516 34 3
Statesville High School High Regular 1,029 67 1

East Iredell Elementary School

  • Education Level: Primary
  • # of students: 851
  • # of teachers: 52
2
GreatSchools Rating

East Middle School

  • Education Level: Middle
  • # of students: 516
  • # of teachers: 34
3
GreatSchools Rating

Statesville High School

  • Education Level: High
  • # of students: 1,029
  • # of teachers: 67
1
GreatSchools Rating
 

$296,910$362,890$329,900

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$1,146
Property Tax -$291
Property Insurance -$80
Property Management Fees -$119
CASH FLOW
-$66

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.

$329,900

PROJECTED PRICE

$1,570

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 2.9%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,174

INVESTMENT

$93,174

Down Payment
$82,475
Rehab Estimate
$5,750
Closing Costs
$4,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,146

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,475
Loan Amount $247,425
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$12,333

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.56

    LIST RENT PER SQFT
  • $1,616

    COMP ESTIMATED VALUE
  • $0.58

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5003$1,5704$1,595
$1,595
RENT COMPS ANALYSIS
  • 168 Eastwood Drive Statesville, NC 3
    • 4 beds 4 baths ∙ 2,786 Sqft ∙ Built 1992 4 beds 4 baths ∙ 2,786 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.56
    •  
  • 2413 Marthas Ridge Drive Statesville, NC 1
    • 4 beds 3 baths ∙ 2,880 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,880 Sqft ∙ Built 2007
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.50
    •  
  • 156 Eastwood Drive Statesville, NC 2
    • 3 beds 3 baths ∙ 2,560 Sqft ∙ Built 1986 3 beds 3 baths ∙ 2,560 Sqft ∙ Built 1986
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.59
    •  
  • 1411 Forest Park Drive Statesville, NC 4
    • 4 beds 3 baths ∙ 2,451 Sqft ∙ Built 1969 4 beds 3 baths ∙ 2,451 Sqft ∙ Built 1969
    LEASED 01/13/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.65
    •  
PROPERTY LISTING DETAILS
Roxanna Levan
1.704.437.0204
Allen Tate Statesville
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3711956
Last Updated: 03/13/2021
BESbswy