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

169 Jacobs Woods Circle #111 Troutman, NC 28166

4 Beds 3 Baths 2,566 sqft Built 2004

$279,900

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $109.08
  • 8 Days on Market
  • MLS # : 3676707
  • Updated Date : 10/31/2020 at 07:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,566 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty Llc

Listing Agent's Description

Dont Miss This One! Home priced lower than avg price per sqft for the area. This Conveniently located home in Troutman right off Main Street is just a mile from I-77 is Approxmately 2566 Sqft 4 bed 2.5 baths and a bonus area that could be designated for a sitting, Office, or play area. Kitchen and living are open concept with large Kitchen Island and breakfast nook. Very large master bedroom with Vaulted ceiling and walk in closet, the flooring in bath has been updated. The backyard is fenced with patio and large outbuilding for additional storage or potential work shop. This home just screams the perfect location and is in a well established neighborhood.

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

Zip Code: 28166

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $106k261k

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

Zip Code: 28166

ZipNIR Market*CityMarket2010Year20002019 Q280085090095010001050110011501200125013001350Rent in $7581375

* 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
Troutman Elementary School Primary Regular 757 45 6
Troutman Middle School Middle Regular 436 25 4
South Iredell High School High Regular 1,505 92 5

Troutman Elementary School

  • Education Level: Primary
  • # of students: 757
  • # of teachers: 45
6
GreatSchools Rating

Troutman Middle School

  • Education Level: Middle
  • # of students: 436
  • # of teachers: 25
4
GreatSchools Rating

South Iredell High School

  • Education Level: High
  • # of students: 1,505
  • # of teachers: 92
5
GreatSchools Rating
 

$251,910$307,890$279,900

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 -$1,033
Property Tax -$222
Property Insurance -$73
HOA -$20
Property Management Fees -$151
CASH FLOW
$181

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.

$279,900

PROJECTED PRICE

$1,680

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 5.2%
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$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$79,924

INVESTMENT

$79,924

Down Payment
$69,975
Rehab Estimate
$5,750
Closing Costs
$4,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,975
Loan Amount $209,925
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$31,534

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
  • $0.69

    LIST RENT PER SQFT
  • $1,887

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,680
1$1,6802$1,695
$1,695
RENT COMPS ANALYSIS
  • 169 Jacobs Woods Circle Troutman, NC 1
    • 4 beds 3 baths ∙ 2,450 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,450 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.69
    •  
  • 127 Aberdeen Drive Troutman, NC 2
    • 5 beds 3 baths ∙ 2,200 Sqft ∙ Built 2016 5 beds 3 baths ∙ 2,200 Sqft ∙ Built 2016
    LEASED 07/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.77
    •  
PROPERTY LISTING DETAILS
Carla Coffey
1.888.584.9431
Exp Realty Llc
BESbswy