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PROPERTY INFO
FACTS
- Single Family
- Built In 2005
- Price/Sqft : $176.67
- 9 Days on Market
- MLS # : 3693050
- Updated Date : 01/01/2021 at 00:05
CONSTRUCTION
- Beds : 3
- Floor Size : 1,500 sqft
- Baths : 2 full
Listing Agent
Titan Realty, Inc.
Listing Agent's Description
Absolutely adorable 3 bedroom 2 bath home in popular Water Oak subdivision. Freshly painted gray hardi board exterior, 2 car garage, fenced corner lot and precious front porch. Interior updates include new hardwoods on main level, granite countertops and stainless appliances in kitchen, new paint in family room, kitchen and hall bath downstairs and going up stairs. Large master retreat up stairs with sitting area, two walk in closets and master bath with separate tub/shower and dual sinks. Also don't miss the three dormer attic space storage. Instant Rinnai hot water heater in master bath and new garage opener.
SEE MORE
- 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: Water Oak at Lake Norman
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Water Oak at Lake Norman
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,580 |
| EXPENSES | Loan Payment | -$978 |
| Property Tax | -$247 | |
| Property Insurance | -$55 | |
| HOA | -$51 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$130
|
||
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.
$265,000
PROJECTED PRICE
$1,580
PROJECTED RENT
0.60%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.48% |
| Appreciation Year (1-5) | 3.9% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.31% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$75,975
LOAN DETAILS
$978
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $66,250 |
| Loan Amount | $198,750 |
8.17
YEARS SAVED
$32,848
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,580
LIST RENT -
$1.05
LIST RENT PER SQFT
-
$1,575
COMP ESTIMATED VALUE -
$1.05
COMP AVG. RENT PER SQFT
Comps Range
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186 Gresham Lane Mooresville, NC 4
- 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2005
- Rent
- Rent Per SQFT
- $1,580
- $1.05
-
138 E Morehouse Avenue Mooresville, NC 1
- 3 beds 2 baths ∙ 1,468 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,468 Sqft ∙ Built 2005
LEASED 07/30/20- Rent
- Rent Per SQFT
- $1,450
- $0.99
-
127 Morehouse Avenue Mooresville, NC 2
- 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 2005
LEASED 03/28/20- Rent
- Rent Per SQFT
- $1,525
- $1.05
-
113 E Morehouse Avenue Mooresville, NC 3
- 3 beds 2 baths ∙ 1,483 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,483 Sqft ∙ Built 2004
LEASED 08/28/20- Rent
- Rent Per SQFT
- $1,575
- $1.06
-
112 E Morehouse Avenue Mooresville, NC 5
- 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2004
LEASED 12/17/20- Rent
- Rent Per SQFT
- $1,650
- $1.10
PROPERTY LISTING DETAILS
1.704.999.9739
Titan Realty, Inc.
