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PROPERTY INFO
FACTS
- Single Family
- Built In 2007
- Price/Sqft : $102.70
- 26 Days on Market
- MLS # : 3683390
- Updated Date : 12/10/2020 at 00:05
CONSTRUCTION
- Beds : 4
- Floor Size : 3,262 sqft
- Baths : 2 full , 1 half
Listing Agent
Lake Norman Realty, Inc.
Listing Agent's Description
This pre inspected, professionally cleaned, spacious SMART home sits on one of the largest lots in Curtis Pond and is across the street from the neighborhood’s amazing amenities! Located in the award winning MGSD, this home is a perfect family home w/ room for everyone. The main level features 2 gas fireplaces, a family room, dining room, sunroom, large kitchen with an island & gas appliances, & cozy den or breakfast nook. Upstairs features 4 huge bedrooms with high ceilings, newer carpets, convenient laundry room, & a marble tiled master BR w/ walk in shower, soaker tub, & large closet. Outside is very spacious w/ garden, entertainment deck and privacy fence. Updates include- freshly painted in 2019, bedroom carpets installed in 2016, SMART home controls lights and temperature through phone or Alexa, HVAC 2016 with 3 zoned heating and cooling system, water heater installed 2019, french drain system installed 2017, epoxy flooring in garage. 3D Tour Available!
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: Curtis Pond
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Curtis Pond
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,880 |
| EXPENSES | Loan Payment | -$1,236 |
| Property Tax | -$333 | |
| Property Insurance | -$89 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$104
|
||
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.
$335,000
PROJECTED PRICE
$1,880
PROJECTED RENT
0.56%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.98% |
| Appreciation Year (1-5) | 6.1% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.57% |
| 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
$94,525
LOAN DETAILS
$1,236
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $83,750 |
| Loan Amount | $251,250 |
6.58
YEARS SAVED
$30,628
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,880
LIST RENT -
$0.58
LIST RENT PER SQFT
-
$1,884
COMP ESTIMATED VALUE -
$0.58
COMP AVG. RENT PER SQFT
Comps Range
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LEASED 06/19/20- Rent
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- $1,695
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LEASED 08/06/19- Rent
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- $1,845
- $0.57
-
134 Ashton Drive Mooresville, NC 3
- 4 beds 3 baths ∙ 3,142 Sqft ∙ Built 2012 4 beds 3 baths ∙ 3,142 Sqft ∙ Built 2012
LEASED 04/27/20- Rent
- Rent Per SQFT
- $1,850
- $0.59
-
378 Almora Loop Mooresville, NC 5
- 4 beds 3 baths ∙ 3,151 Sqft ∙ Built 2007 4 beds 3 baths ∙ 3,151 Sqft ∙ Built 2007
LEASED 03/05/20- Rent
- Rent Per SQFT
- $1,899
- $0.60
PROPERTY LISTING DETAILS
1.704.745.7176
Lake Norman Realty, Inc.
