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PROPERTY INFO
FACTS
- Single Family
- Built In 2020
- Price/Sqft : $148.70
- 3 Days on Market
- MLS # : 3701302
- Updated Date : 01/22/2021 at 15:46
CONSTRUCTION
- Beds : 5
- Floor Size : 2,558 sqft
- Baths : 3 full
Listing Agent
Dr Horton Inc
Listing Agent's Description
Lake Front Community; enjoy a resort feel where you live! Lake Norman access via community Canoe launch, fish and other fun lake activities. Pool & clubhouse, walking trails, playground, pocket parks, bocce ball court. Stunning Two-story entry showcasing wrought iron staircase and formal dining room. Open kitchen to family room with gas fireplace. 1st floor guest room suite. Big bonus can double as a 5th bed. Gorgeous bath w/tile shower and semi-frameless shower enclosure. Upgrades Galore! Gourmet kitchen-stainless double ovens, gas cooktop, castled cabinetry w/base pull outs and granite. Revwood floors in downstairs living areas and ceramic tile and granite counters in all bathrooms. Tankless water heater, Smart home tech, deluxe two-piece crown, wainscoting, cased windows, 5" baseboards and tray ceiling in master. Charming front porch elevation.
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
Zip Code: 28117
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 28117
* 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.
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,360 |
| EXPENSES | Loan Payment | -$1,321 |
| Property Tax | -$354 | |
| Property Insurance | -$75 | |
| HOA | -$63 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$428
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.
$380,381
PROJECTED PRICE
$2,360
PROJECTED RENT
0.62%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.48% |
| Appreciation Year (1-5) | 5.1% |
| Maintenance Year (1-5) | 3.00% |
| 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
$102,801
LOAN DETAILS
$1,321
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $95,095 |
| Loan Amount | $285,286 |
11.67
YEARS SAVED
$71,445
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,360
LIST RENT -
$0.92
LIST RENT PER SQFT
-
$2,328
COMP ESTIMATED VALUE -
$0.91
COMP AVG. RENT PER SQFT
Comps Range
-
187 Longleaf Drive Mooresville, NC 3
- 5 beds 3 baths ∙ 2,558 Sqft ∙ Built 2020 5 beds 3 baths ∙ 2,558 Sqft ∙ Built 2020
![property image]()
- Rent
- Rent Per SQFT
- $2,360
- $0.92
-
190 Atwater Landing Drive Mooresville, NC 1
- 5 beds 3 baths ∙ 2,446 Sqft ∙ Built 2020 5 beds 3 baths ∙ 2,446 Sqft ∙ Built 2020
![property image]()
LEASED 06/26/20- Rent
- Rent Per SQFT
- $2,200
- $0.90
-
145 Gray Willow Street Mooresville, NC 2
- 5 beds 3 baths ∙ 2,490 Sqft ∙ Built 2021 5 beds 3 baths ∙ 2,490 Sqft ∙ Built 2021
![property image]()
LEASED 01/02/21- Rent
- Rent Per SQFT
- $2,350
- $0.94
-
139 Gray Willow Street Mooresville, NC 4
- 4 beds 3 baths ∙ 2,644 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,644 Sqft ∙ Built 2020
![property image]()
LEASED 01/12/21- Rent
- Rent Per SQFT
- $2,365
- $0.89
-
140 Gray Willow Street Mooresville, NC 5
- 4 beds 3 baths ∙ 2,644 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,644 Sqft ∙ Built 2020
![property image]()
LEASED 12/14/20- Rent
- Rent Per SQFT
- $2,400
- $0.91
PROPERTY LISTING DETAILS
1.904.536.6450
Dr Horton Inc
