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183 S San Agustin Drive Mooresville, NC 28117

4 Beds 3 Baths 3,033 sqft Built 2016

$475,000

List Price

$2,520

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $156.61
  • 5 Days on Market
  • MLS # : 3693989
  • Updated Date : 01/03/2021 at 00:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,033 sqft
  • Baths : 3 full
Listing Agent

Realty One Group Select

Listing Agent's Description

Stunning hard to find ranch in the highly desired Bells Crossing w/ over 3,000 square feet of 1 story living area. Situated on 1.2+ acres, this unique lot offers unlimited privacy w/ no neighbors on either side or across the street. The wooded views will make you feel like you're in the country while still being convenient to everything Mooresville offers. Gourmet kitchen w/ white cabinets, SS appliances, granite counters, walk-in pantry, a contrasting gray island w/ overhang for barstools & tile backsplash. The kitchen flows nicely into a breakfast area & great room, lending to a grand open floor plan. Features 9' tall ceilings throughout w/ tray ceilings in dining, living room & master. Must see master bath! Community Amenities: clubhouse, Jr. Olympic Pool, tennis/basketball courts, walking trails, playgrounds, lake paddlesport launch area, cabana area w/ tables & grills & optional locked boat storage. All within a top rated school district! One of the few lots that can fit a pool.

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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: 28117

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $118k427k

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

Zip Code: 28117

ZipNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8441980

* 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
 

$427,500$522,500$475,000

PURCHASE PRICE

$2,268$2,772$2,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,520
EXPENSES Loan Payment -$1,753
Property Tax -$194
Property Insurance -$84
HOA -$100
Property Management Fees -$119
CASH FLOW
$270

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.

$475,000

PROJECTED PRICE

$2,520

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.1%
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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,753

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

9

YEARS SAVED

$67,874

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,520

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,730

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,5203$2,700
$2,700
RENT COMPS ANALYSIS
  • 183 S San Agustin Drive Mooresville, NC 2
    • 4 beds 3 baths ∙ 3,033 Sqft ∙ Built 2016 4 beds 3 baths ∙ 3,033 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,520
    • $0.83
    •  
  • 132 Longleaf Drive Mooresville, NC 1
    • 5 beds 4 baths ∙ 2,766 Sqft ∙ Built 2019 5 beds 4 baths ∙ 2,766 Sqft ∙ Built 2019
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.85
    •  
  • 174 Yellow Birch Loop Mooresville, NC 3
    • 5 beds 4 baths ∙ 2,910 Sqft ∙ Built 2020 5 beds 4 baths ∙ 2,910 Sqft ∙ Built 2020
    LEASED 12/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.93
    •  
PROPERTY LISTING DETAILS
Lauren Knerl
1.704.579.1646
Realty One Group Select
BESbswy