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248 Mockingbird Lane Mcadenville, NC 28101

3 Beds 2 Baths 2,076 sqft Built 1964

$259,000

List Price

$1,710

$1.5K - $1.9K

Rent Est.

$74,385

Investment Est.

AVAILABLE

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AVAILABLE

1 Year
(+6.3%)
1 YR. PROJ. APPRECIATION


Cap Rate	5.1%
Cash Flow	$4,416
Value Increase	$16,732

10 YEAR

Cash On Cash	4.0%
Total Return	14.5%

PROPERTY INFO

FACTS

Single Family
Built In 1964
Price/Sqft : $124.76
17 Days on Market
MLS # : 3692529
Updated Date : 01/02/2021 at 00:05

CONSTRUCTION

Beds : 3
Floor Size : 2,076 sqft
Baths : 2 full

Listing Agent

Keller Williams Ballantyne Area

Listing Agent's Description

Escape from the city! Tucked away between Cramerton and McAdenville a on a wooded one acre lot with creek.. Large eat-in kitchen, Cozy den with fire place. formal areas. Full walk- out basement has a wood burning fire place and is plumbed for a full bath. Needs modern updates but has tons of potential! This is an estate. the property will be conveyed by Special Warranty Deed.

248 Mockingbird Ln

McAdenville, North Carolina

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MARKET HIGHLIGHTS

Charlotte Market Report

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)

Zip Code: 28101

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

Zip Code: 28101

* 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
Mcadenville Elementary School	Primary	Regular	166	13	6
Holbrook Middle School	Middle	Regular	731	40	6
Stuart W. Cramer High School	High	Regular	782	45	NA

Mcadenville Elementary School

Education Level: Primary
# of students: 166
# of teachers: 13

GreatSchools Rating

Holbrook Middle School

Education Level: Middle
# of students: 731
# of teachers: 40

GreatSchools Rating

Stuart W. Cramer High School

Education Level: High
# of students: 782
# of teachers: 45

GreatSchools Rating

FINANCIALS

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$233,100$284,90000$259,000

PURCHASE PRICE

$1,539$1,88100$1,710

RENT

DOWN PAYMENT

FINANCING

OFF ON

Acquisition Concierge

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PROPERTY

Expense Inflation	%
Vacancy	%
Length of Stay
Expense Inflation	%
Vacancy	%
Length of Stay

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (6+)

Appreciation	%
Rental Growth	%
Maintenance	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

Learn how to read this

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME	Rent	$1,710
EXPENSES	Loan Payment	-$956
	Property Tax	-$201
	Property Insurance	-$66
	Property Management Fees	-$119




CASH FLOW $368

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.

$259,000

PROJECTED PRICE

$1,710

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS
Expense Inflation	2.50%
Rental Growth Year (1-5)	2.98%
Appreciation Year (1-5)	6.3%
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

Tenant Turnover

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

Appreciation
Principal
Loan Balance

TOTAL CASH OUT OF POCKET

INVESTMENT

$74,385

Down Payment	$64,750
Rehab Estimate	$5,750
Closing Costs	$3,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$956

MONTHLY LOAN PAYMENT

30 yr

4.25%

25.00%

Down Payment

Term	30 Years
Interest	4.25%
Down Payment	$64,750
Loan Amount	$194,250

See What Happens When You Reinvest Cash Flow

12.25

YEARS SAVED

$58,080

INTEREST SAVED

CASH FLOW REINVESTMENT

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

$1,710
LIST RENT
$0.82
LIST RENT PER SQFT

$1,614
COMP ESTIMATED VALUE
$0.78
COMP AVG. RENT PER SQFT

Comps Range

$1,325

1$1,3252$1,3453$1,4354$1,5505$1,710

$1,710

RENT COMPS ANALYSIS

2,076
PROPERTY SQFT
$0.78
AVG RENT PER SQFT
$1,614
ESTIMATED VALUE
$1,710
LIST RENT

248 Mockingbird Lane Mcadenville, NC 2

3 beds 2 baths ∙ 2,076 Sqft ∙ Built 1964 3 beds 2 baths ∙ 2,076 Sqft ∙ Built 1964
Price

Price Per SQFT

$259,000

$124.76
2150 Wynbourne Drive Gastonia, NC 1

3 beds 3 baths ∙ 2,144 Sqft ∙ Built 1987 3 beds 3 baths ∙ 2,144 Sqft ∙ Built 1987
SOLD 07/09/20
Price

Price Per SQFT

$243,540

$113.59
202 Davis Lane Belmont, NC 3

3 beds 3 baths ∙ 2,122 Sqft ∙ Built 1976 3 beds 3 baths ∙ 2,122 Sqft ∙ Built 1976
SOLD 06/19/20
Price

Price Per SQFT

$262,500

$123.70
2249 Londonderry Drive Gastonia, NC 4

3 beds 2 baths ∙ 2,361 Sqft ∙ Built 1987 3 beds 2 baths ∙ 2,361 Sqft ∙ Built 1987
SOLD 03/11/20
Price

Price Per SQFT

$285,000

$120.71
4332 Old Forge Drive Gastonia, NC 5

3 beds 3 baths ∙ 2,316 Sqft ∙ Built 1984 3 beds 3 baths ∙ 2,316 Sqft ∙ Built 1984
SOLD 05/29/20
Price

Price Per SQFT

$285,000

$123.06

248 Mockingbird Lane Mcadenville, NC 5

3 beds 2 baths ∙ 2,076 Sqft ∙ Built 1964 3 beds 2 baths ∙ 2,076 Sqft ∙ Built 1964
Rent

Rent Per SQFT

$1,710

$0.82
710 Overlook Road Lowell, NC 1

3 beds 3 baths ∙ 1,807 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,807 Sqft ∙ Built 2007
LEASED 09/01/19
Rent

Rent Per SQFT

$1,325

$0.73
607 Overlook Road Lowell, NC 2

3 beds 3 baths ∙ 1,803 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,803 Sqft ∙ Built 2002
LEASED 02/03/20
Rent

Rent Per SQFT

$1,345

$0.75
814 River Trail Road Lowell, NC 3

3 beds 3 baths ∙ 1,782 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,782 Sqft ∙ Built 2003
LEASED 09/05/19
Rent

Rent Per SQFT

$1,435

$0.81
704 Overlook Road Lowell, NC 4

3 beds 3 baths ∙ 1,900 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,900 Sqft ∙ Built 2007
LEASED 03/23/20
Rent

Rent Per SQFT

$1,550

$0.82

PROPERTY LISTING DETAILS

Debbie Scarborough
1.704.214.1237
Keller Williams Ballantyne Area

248 Mockingbird Lane Mcadenville, NC 28101

$259,000

$1,710

$74,385

REQUEST INFO

PROPERTY INFO

FACTS

CONSTRUCTION

Listing Agent

Listing Agent's Description

MARKET HIGHLIGHTS

PRICE & RENT TRENDS

SCHOOLS

Mcadenville Elementary School

Holbrook Middle School

Stuart W. Cramer High School

FINANCIALS

$233,100$284,90000$259,000

$1,539$1,88100$1,710

Acquisition Concierge

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

$259,000

$1,710

0.66%

PROJECTED ACCUMULATED WEALTH

PROJECTED ANNUAL CASH FLOW

PROJECTED PROPERTY VALUE

TOTAL CASH OUT OF POCKET

INVESTMENT

LOAN DETAILS

25%

$956

12.25

$58,080

$259,000

$124.76

$249,670

$120.27

COMPS RANGE

PRICE COMPS ANALYSIS

$1,710

$0.82

$1,614

$0.78

Comps Range

RENT COMPS ANALYSIS

PROPERTY LISTING DETAILS