Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

250 Klutz Street Troutman, NC 28166

3 Beds 2 Baths 1,488 sqft Built 1958

$285,000

List Price

$1,270

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1958
  • Price/Sqft : $191.53
  • 42 Days on Market
  • MLS # : 3685344
  • Updated Date : 01/08/2021 at 10:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,488 sqft
  • Baths : 2 full
Listing Agent

Blanq-mor Real Estate Group

Listing Agent's Description

BACK TO MARKET...NO FAULT OF SELLERS!!! BEAUTIFUL renovation on almost 3/4ac. lot, walking distance to downtown Troutman. No HOA!! Full brick freshly painted. New roof/gutters, new HVAC, water heater, original wood floors refinished in main living areas and bedrooms. Both bathrooms updated. LVP flooring in kitchen. BRAND New kitchen cabinets, granite counters and appliances. Large living area with wood burning FP. Oversized attached 2-car garage w/ workshop. 2nd outdoor workshop w/ power in backyard. BONUS...HUGE 2-car detached garage/workshop w/full power (separate meter). Lot can be sub-divided to build on!!!

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: 28166

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $106k261k

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

Zip Code: 28166

ZipNIR Market*CityMarket2010Year20002019 Q280085090095010001050110011501200125013001350Rent in $7581375

* 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
Troutman Elementary School Primary Regular 757 45 6
Troutman Middle School Middle Regular 436 25 4
South Iredell High School High Regular 1,505 92 5

Troutman Elementary School

  • Education Level: Primary
  • # of students: 757
  • # of teachers: 45
6
GreatSchools Rating

Troutman Middle School

  • Education Level: Middle
  • # of students: 436
  • # of teachers: 25
4
GreatSchools Rating

South Iredell High School

  • Education Level: High
  • # of students: 1,505
  • # of teachers: 92
5
GreatSchools Rating
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,143$1,397$1,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,270
EXPENSES Loan Payment -$990
Property Tax -$226
Property Insurance -$55
Property Management Fees -$119
CASH FLOW
-$120

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.

$285,000

PROJECTED PRICE

$1,270

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 5.2%
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$800k

PROJECTED ANNUAL CASH FLOW

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

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$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$990

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$7,343

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,270

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,298

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$950
1$9502$1,0953$1,2254$1,2705$1,350
$1,350
RENT COMPS ANALYSIS
  • 250 Klutz Street Troutman, NC 4
    • 3 beds 2 baths ∙ 1,488 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,488 Sqft ∙ Built 1958
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,270
    • $0.85
    •  
  • 172 W Church Street Troutman, NC 1
    • 3 beds 1 baths ∙ 1,160 Sqft ∙ Built 1958 3 beds 1 baths ∙ 1,160 Sqft ∙ Built 1958
    property image
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.82
    •  
  • 415 Avon Avenue Troutman, NC 2
    • 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 1975
    property image
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $0.87
    •  
  • 805 Stratford Road Troutman, NC 3
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 2007
    property image
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,225
    • $0.91
    •  
  • 234 Eastway Drive Troutman, NC 5
    • 3 beds 2 baths ∙ 1,515 Sqft ∙ Built 1913 3 beds 2 baths ∙ 1,515 Sqft ∙ Built 1913
    property image
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.89
    •  
PROPERTY LISTING DETAILS
Andrew Morgan
1.704.290.4069
Blanq-mor Real Estate Group
BESbswy