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233 Golden Valley Drive Mooresville, NC 28115

4 Beds 3 Baths 2,507 sqft Built 2007

$279,000

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $111.29
  • 3 Days on Market
  • MLS # : 3686889
  • Updated Date : 11/27/2020 at 18:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,507 sqft
  • Baths : 2 full , 1 half
Listing Agent

Lawrie Lawrence Real Estate

Listing Agent's Description

Fantastic 2 story home in the highly desirable Linwood Farms community now available! Close to downtown Mooresville & in the Mooresville Graded School District, this home is ready for new owners. A classic floor plan with the living area downstairs and all of the bedrooms up. Downstairs includes a formal dining room, great room, sunroom, and office/living room. The kitchen has been updated with a NEWER faucet, disposal & stainless steel appliances. Upstairs you have a large master suite w/tray ceiling and 3 additional bedrooms (or use one as a bonus room instead). The garage comes with convenient hanging storage. NEW roof with transferable warranty and NEWER hot water heater. Enjoy the rocking chair front porch & large deck both great for relaxing & entertaining guests. Freshly painted interior areas as well freshly painted shutters. Carpet & stairs will be cleaned 11/27. Community pool & playground. PRICED TO SELL , so schedule your appointment today to see this one!

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: Linwood Farms

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Neighborhood: Linwood Farms

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441809

* 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
East Mooresville Intermediate School Primary Regular 625 33 7
East Mooresville Intermediate School Middle Regular 625 33 7
Mooresville High School High Regular 1,787 78 8

East Mooresville Intermediate School

  • Education Level: Primary
  • # of students: 625
  • # of teachers: 33
7
GreatSchools Rating

East Mooresville Intermediate School

  • Education Level: Middle
  • # of students: 625
  • # of teachers: 33
7
GreatSchools Rating

Mooresville High School

  • Education Level: High
  • # of students: 1,787
  • # of teachers: 78
8
GreatSchools Rating
 

$251,100$306,900$279,000

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$1,029
Property Tax -$289
Property Insurance -$74
HOA -$30
Property Management Fees -$150
CASH FLOW
$97

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.

$279,000

PROJECTED PRICE

$1,670

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,685

INVESTMENT

$79,685

Down Payment
$69,750
Rehab Estimate
$5,750
Closing Costs
$4,185

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,750
Loan Amount $209,250
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$24,377

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $1,805

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,670
1$1,6702$1,8003$1,8004$1,8955$1,895
$1,895
RENT COMPS ANALYSIS
  • 233 Golden Valley Drive Mooresville, NC 1
    • 4 beds 3 baths ∙ 2,507 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,507 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.67
    •  
  • 157 King William Drive Mooresville, NC 2
    • 4 beds 3 baths ∙ 2,645 Sqft ∙ Built 4 beds 3 baths ∙ 2,645 Sqft ∙ Built
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.68
    •  
  • 194 N Cromwell Drive Mooresville, NC 3
    • 5 beds 3 baths ∙ 2,495 Sqft ∙ Built 2018 5 beds 3 baths ∙ 2,495 Sqft ∙ Built 2018
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.72
    •  
  • 145 Eden Avenue Mooresville, NC 4
    • 4 beds 3 baths ∙ 2,628 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,628 Sqft ∙ Built 2018
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.72
    •  
  • 151 Kingsway Drive Mooresville, NC 5
    • 5 beds 3 baths ∙ 2,480 Sqft ∙ Built 2019 5 beds 3 baths ∙ 2,480 Sqft ∙ Built 2019
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.76
    •  
PROPERTY LISTING DETAILS
Kathleen Walton
1.704.506.8382
Lawrie Lawrence Real Estate
BESbswy