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225 Mapleleaf Road Statesville, NC 28625

3 Beds 2 Baths 1,452 sqft Built 1979

$200,000

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $137.74
  • 4 Days on Market
  • MLS # : 3696589
  • Updated Date : 01/09/2021 at 21:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,452 sqft
  • Baths : 2 full
Listing Agent

Allen Tate Statesville

Listing Agent's Description

Enjoy this large great room with cathedral ceiling and masonry fireplace, currently wood burning with an insert and blower. Fabulous great room is open to the kitchen that features large island and stainless steel appliances, 3 bedrooms and 2 full baths. Laminate wood floors throughout. Fenced yard with fire pit and patio to enjoy quiet evenings. 1 car garage and 2 car carport. Many updates over the past few years including countertops, fence, heat pump, hot water heater, roof and paint.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 28625

ZipNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200kPrice in $59k213k

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

Zip Code: 28625

ZipNIR Market*CityMarket2010Year20002019 Q275080085090095010001050110011501200125013001350Rent in $7481375

* 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.
 

$180,000$220,000$200,000

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$695
Property Tax -$150
Property Insurance -$55
Property Management Fees -$119
CASH FLOW
$322

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$200,000

PROJECTED PRICE

$1,340

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 2.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,750

INVESTMENT

$58,750

Down Payment
$50,000
Rehab Estimate
$5,750
Closing Costs
$3,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$695

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $50,000
Loan Amount $150,000
See What Happens When You Reinvest Cash Flow

12.92

YEARS SAVED

$41,221

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$1,340
1$1,340
$1,340
RENT COMPS ANALYSIS
  • 225 Mapleleaf Road Statesville, NC
    • 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 1979
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $0.92
    •  
PROPERTY LISTING DETAILS
Roxanna Levan
1.704.437.0204
Allen Tate Statesville
BESbswy