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PROPERTY INFO
FACTS
- Single Family
- Built In 1988
- Price/Sqft : $185.63
- 24 Days on Market
- MLS # : 3686132
- Updated Date : 12/19/2020 at 19:24
CONSTRUCTION
- Beds : 3
- Floor Size : 1,454 sqft
- Baths : 2 full
Listing Agent
Mountain Island Lake Realty Llc
Listing Agent's Description
Welcome home! Well maintained 3 bedroom 2 full bathroom ranch in Cornelius minutes from Lake Norman, I-77, Birkdale, and lots of shopping! Close to everything Cornelius has to offer but tucked away on a dead end street. Lot backs up to county land. Watch the deer and wildlife from your back deck or side deck! Large master bedroom that can accommodate a king sized bed and multiple dressers, plus two big closets! Freshly painted and new light fixtures! No HOA! Lots of unique features such as skylights providing natural light. This home is waiting for you to come make lots of memories with your family and friends!
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: Cornelius
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Cornelius
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,310 |
| EXPENSES | Loan Payment | -$996 |
| Property Tax | -$199 | |
| Property Insurance | -$55 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$58
|
||
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.
$269,900
PROJECTED PRICE
$1,310
PROJECTED RENT
0.49%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.48% |
| Appreciation Year (1-5) | 6.2% |
| 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
$77,274
LOAN DETAILS
$996
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $67,475 |
| Loan Amount | $202,425 |
4.92
YEARS SAVED
$15,682
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,310
LIST RENT -
$0.9
LIST RENT PER SQFT
-
$1,316
COMP ESTIMATED VALUE -
$0.91
COMP AVG. RENT PER SQFT
Comps Range
-
21202 Pine Ridge Drive Cornelius, NC 2
- 3 beds 2 baths ∙ 1,454 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,454 Sqft ∙ Built 1988
- Rent
- Rent Per SQFT
- $1,310
- $0.90
-
21211 Pine Ridge Drive Cornelius, NC 1
- 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 1987
LEASED 12/26/19- Rent
- Rent Per SQFT
- $1,195
- $0.82
-
21412 Aftonshire Drive Cornelius, NC 3
- 3 beds 3 baths ∙ 1,428 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,428 Sqft ∙ Built 2003
LEASED 06/18/20- Rent
- Rent Per SQFT
- $1,350
- $0.95
-
19528 Feriba Place Cornelius, NC 4
- 3 beds 3 baths ∙ 1,496 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,496 Sqft ∙ Built 2001
LEASED 02/01/20- Rent
- Rent Per SQFT
- $1,400
- $0.94
-
10606 Danesway Lane Cornelius, NC 5
- 3 beds 3 baths ∙ 1,641 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,641 Sqft ∙ Built 1987
LEASED 04/17/20- Rent
- Rent Per SQFT
- $1,600
- $0.98
PROPERTY LISTING DETAILS
1.716.713.0045
Mountain Island Lake Realty Llc
