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207 Chandeleur Drive #158 Mooresville, NC 28117

3 Beds 2 Baths 2,020 sqft Built 1997

$359,900

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $178.17
  • 2 Days on Market
  • MLS # : 3708319
  • Updated Date : 02/13/2021 at 09:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,020 sqft
  • Baths : 2 full
Listing Agent

Dazcon Properties

Listing Agent's Description

Harbor Cove is a highly desirable lake community which features include pool and lake beach access. Very nicely maintained 3 bedroom plus office/den RANCH located in waterfront community with year round water views. Some features are refinished hardwood floors, tile in baths and carpeted bedrooms. Completely updated kitchen and baths with SS appliances and granite. Open floor plan that is perfect for entertaining. Living room with gas fireplaces. Back deck. Standing crawl space, rear load two car garage, tons of attic storage space. Boat slip may be available lease/possible purchase through the HOA/community. There is a lease until May 31st on this home.

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

Neighborhood: Harbor Cove

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $118k373k

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

Neighborhood: Harbor Cove

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8442034

* 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
Lake Norman Elementary School Primary Regular 495 28 8
Brawley Middle School Middle Regular 746 41 7
Lake Norman High School High Regular 1,865 88 8

Lake Norman Elementary School

  • Education Level: Primary
  • # of students: 495
  • # of teachers: 28
8
GreatSchools Rating

Brawley Middle School

  • Education Level: Middle
  • # of students: 746
  • # of teachers: 41
7
GreatSchools Rating

Lake Norman High School

  • Education Level: High
  • # of students: 1,865
  • # of teachers: 88
8
GreatSchools Rating
 

$323,910$395,890$359,900

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$1,250
Property Tax -$343
Property Insurance -$65
HOA -$38
Property Management Fees -$119
CASH FLOW
$14

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.

$359,900

PROJECTED PRICE

$1,830

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 9.0%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$101,124

INVESTMENT

$101,124

Down Payment
$89,975
Rehab Estimate
$5,750
Closing Costs
$5,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,250

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $89,975
Loan Amount $269,925
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$22,475

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,641

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6953$1,7504$1,8205$1,830
$1,830
RENT COMPS ANALYSIS
  • 207 Chandeleur Drive Mooresville, NC 5
    • 3 beds 2 baths ∙ 2,020 Sqft ∙ Built 1997 3 beds 2 baths ∙ 2,020 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $0.91
    •  
  • 215 Rose Street Mooresville, NC 1
    • 4 beds 3 baths ∙ 2,014 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,014 Sqft ∙ Built 1993
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.77
    •  
  • 103 Meadow Pond Lane Mooresville, NC 2
    • 4 beds 3 baths ∙ 2,100 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,100 Sqft ∙ Built 1999
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.81
    •  
  • 134 Crystal Circle Mooresville, NC 3
    • 3 beds 3 baths ∙ 2,181 Sqft ∙ Built 1979 3 beds 3 baths ∙ 2,181 Sqft ∙ Built 1979
    LEASED 10/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.80
    •  
  • 135 Mooreland Road Mooresville, NC 4
    • 4 beds 3 baths ∙ 2,075 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,075 Sqft ∙ Built 2004
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.88
    •  
PROPERTY LISTING DETAILS
Vickie Barrett
1.704.799.7510
Dazcon Properties
BESbswy