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176 Sutters Mill Drive #52 Troutman, NC 28166

4 Beds 3 Baths 2,412 sqft Built 2021

$323,600

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $134.16
  • 7 Days on Market
  • MLS # : 3699073
  • Updated Date : 01/18/2021 at 13:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,412 sqft
  • Baths : 2 full , 1 half
Listing Agent

Tls Realty Llc

Listing Agent's Description

NEW 4BR/2.5BTH! Spacious Bedrooms, Bright Open Great Room, and Tons of upgrades throughout! Plan Highlights include Private Study, Convenient Mudroom, and Enlarged Patio. Nicely appointed Kitchen features granite countertops and stainless appliances!

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: 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

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$291,240$355,960$323,600

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,124
Property Tax -$257
Property Insurance -$73
HOA -$25
Property Management Fees -$119
CASH FLOW
$103

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$323,600

PROJECTED PRICE

$1,700

PROJECTED RENT

0.53%

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) 3.00%
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$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,754

INVESTMENT

$87,754

Down Payment
$80,900
Rehab Estimate
$2,000
Closing Costs
$4,854

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,124

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $80,900
Loan Amount $242,700
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$26,338

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,664

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,4853$1,6254$1,700
$1,700
RENT COMPS ANALYSIS
  • 176 Sutters Mill Drive Troutman, NC 4
    • 4 beds 3 baths ∙ 2,412 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,412 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.70
    •  
  • 112 Powder Horn Road Mooresville, NC 1
    • 3 beds 2 baths ∙ 2,250 Sqft ∙ Built 1973 3 beds 2 baths ∙ 2,250 Sqft ∙ Built 1973
    LEASED 11/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.58
    •  
  • 244 Fesperman Circle Troutman, NC 2
    • 3 beds 3 baths ∙ 2,064 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,064 Sqft ∙ Built 2016
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,485
    • $0.72
    •  
  • 298 Fesperman Circle Troutman, NC 3
    • 4 beds 3 baths ∙ 2,107 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,107 Sqft ∙ Built 2015
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.77
    •  
PROPERTY LISTING DETAILS
John Seabeck
1.980.313.3321
Tls Realty Llc
BESbswy