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168 Foxtail Drive Mooresville, NC 28117

5 Beds 3 Baths 2,525 sqft Built 1997

$350,000

List Price

$2,010

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $138.61
  • 3 Days on Market
  • MLS # : 3690552
  • Updated Date : 12/12/2020 at 12:16
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,525 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty Llc

Listing Agent's Description

Have you been waiting for the right opportunity to own a house in a neighborhood with everything you need? Well, here it is! This 5 BR/2BA home has the perfect backyard for entertaining or relaxing, with a covered gazebo & hot tub. With new kitchen appliances (2017), HVAC (2016) and roof (2013), you won't have to worry about anything other than putting your personal touch on your new home. Enjoy the quiet of this highly desirable neighborhood without sacrificing proximity to all the amenities you might need – dining & shopping are just a X miles away, along with great nearby Iredell County schools. Make sure to take advantage of Winslow Bay’s outdoor features like the neighborhood boat storage, community boat launch and lakeside pool & clubhouse. With all this to offer, this property won’t last long!

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

Neighborhood: Winslow Bay

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $118k321k

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

Neighborhood: Winslow Bay

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8441946

* 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
Lakeshore Elementary School Primary Regular 632 40 5
Lakeshore Middle School Middle Regular 514 29 7
Lake Norman High School High Regular 1,865 88 8

Lakeshore Elementary School

  • Education Level: Primary
  • # of students: 632
  • # of teachers: 40
5
GreatSchools Rating

Lakeshore Middle School

  • Education Level: Middle
  • # of students: 514
  • # of teachers: 29
7
GreatSchools Rating

Lake Norman High School

  • Education Level: High
  • # of students: 1,865
  • # of teachers: 88
8
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,809$2,211$2,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,010
EXPENSES Loan Payment -$1,291
Property Tax -$326
Property Insurance -$72
HOA -$54
Property Management Fees -$119
CASH FLOW
$147

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.

$350,000

PROJECTED PRICE

$2,010

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 8.3%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$40,828

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,010

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,715

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6003$1,6254$1,6505$2,010
$2,010
RENT COMPS ANALYSIS
  • 168 Foxtail Drive Mooresville, NC 5
    • 5 beds 3 baths ∙ 2,390 Sqft ∙ Built 1998 5 beds 3 baths ∙ 2,390 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,010
    • $0.84
    •  
  • 106 Audubon Avenue S Mooresville, NC 1
    • 4 beds 3 baths ∙ 2,264 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,264 Sqft ∙ Built 2001
    property image
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.68
    •  
  • 167 Walmsley Place Mooresville, NC 2
    • 4 beds 3 baths ∙ 2,237 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,237 Sqft ∙ Built 1997
    property image
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.72
    •  
  • 107 S Audubon Avenue Mooresville, NC 3
    • 4 beds 3 baths ∙ 2,238 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,238 Sqft ∙ Built 2001
    property image
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.73
    •  
  • 129 Autry Avenue Mooresville, NC 4
    • 4 beds 3 baths ∙ 2,238 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,238 Sqft ∙ Built 2001
    property image
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.74
    •  
PROPERTY LISTING DETAILS
David Etz
1.910.209.5692
Exp Realty Llc
BESbswy