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311 Glenn Allen Road Mooresville, NC 28115

4 Beds 3 Baths 2,651 sqft Built 2007

$316,900

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $119.54
  • 3 Days on Market
  • MLS # : 3705211
  • Updated Date : 02/05/2021 at 10:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,651 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams South Park

Listing Agent's Description

Welcome home to this fabulous 2 story home with 4 bedrooms and 2.5 baths in Curtis Pond subdivision. It features a location with easy access to nearby shopping malls and parks for leisure and entertaining. Entertain guests in the spacious living area that welcomes you upon entry. It opens up to a well-lit dining area and a well-equipped kitchen perfect for prepping meals. The main floor also boasts a cozy family area accentuated with a warm fireplace perfect for chilly nights. The upper level contains an excellent primary suite that provides utmost leisure after a long tiring day. Additional 3 bedrooms with a shared bath are also available for hosting guests. To see is to believe! Come schedule your visit today.

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

Neighborhood: Curtis Pond

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $113k288k

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

Neighborhood: Curtis Pond

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8421747

* 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
Rocky River Elementary School Primary Regular 637 40 7
Mooresville Middle School Middle Regular 1,023 53 4
Mooresville High School High Regular 1,787 78 8

Rocky River Elementary School

  • Education Level: Primary
  • # of students: 637
  • # of teachers: 40
7
GreatSchools Rating

Mooresville Middle School

  • Education Level: Middle
  • # of students: 1,023
  • # of teachers: 53
4
GreatSchools Rating

Mooresville High School

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

$285,210$348,590$316,900

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,101
Property Tax -$295
Property Insurance -$77
HOA -$28
Property Management Fees -$119
CASH FLOW
$100

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.

$316,900

PROJECTED PRICE

$1,720

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,729

INVESTMENT

$89,729

Down Payment
$79,225
Rehab Estimate
$5,750
Closing Costs
$4,754

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,101

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,225
Loan Amount $237,675
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$24,230

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $1,723

    COMP ESTIMATED VALUE
  • $0.65

    COMP AVG. RENT PER SQFT
Comps Range
$1,615
1$1,6152$1,6503$1,7004$1,7205$1,845
$1,845
RENT COMPS ANALYSIS
  • 311 Glenn Allen Road Mooresville, NC 4
    • 4 beds 3 baths ∙ 2,651 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,651 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.65
    •  
  • 232 Elrosa Road Mooresville, NC 1
    • 4 beds 3 baths ∙ 2,530 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,530 Sqft ∙ Built 2015
    property image
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,615
    • $0.64
    •  
  • 104 Gilden Way Mooresville, NC 2
    • 4 beds 3 baths ∙ 2,631 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,631 Sqft ∙ Built 2006
    property image
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.63
    •  
  • 200 Elrosa Road Mooresville, NC 3
    • 4 beds 3 baths ∙ 2,674 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,674 Sqft ∙ Built 2006
    property image
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.64
    •  
  • 179 Scanlon Road Mooresville, NC 5
    • 4 beds 3 baths ∙ 2,662 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,662 Sqft ∙ Built 2005
    property image
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.69
    •  
PROPERTY LISTING DETAILS
Trent Corbin
1.704.628.4066
Keller Williams South Park
BESbswy