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332 Sundown Road # 7 
Mooresville, NC
28117
4 Beds 3 Baths 2,705 sqft
Built 2020
INVESTimate
$449,000
List Price
$120,985
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PROPERTY INFO
FACTS
- Built In 2020
- Price/Sqft : $165.99
- 2 Days on Market
- MLS # : 3655019
- Updated Date : 08/25/2020 at 14:31
CONSTRUCTION
- Beds : 4
- Floor Size : 2,705 sqft
- Baths : 2 full , 1 half
Listing Agent
Allen Tate Lake Norman
Listing Agent's Description
Welcome to 332 Sundown! A new construction true water view home on a large private lot. This area of Lake Norman is reminiscent of your childhood lake days but with the added luxury of having wonderful shopping and dining just minutes away. Hybrid Homes is known for their great attention to detail and comfortable open and bright floor plans. Sit on your front porch with your morning coffee and listen to the soothing sounds of the lake. The master suite is large and peaceful with a spa like bath and his and her closets. Work from your main level home office with a lake view. Low Iredell county taxes and no HOA. We would love for you to make this your new home.
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
Zip Code: 28117
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 28117
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,140 |
| EXPENSES | Loan Payment | -$1,657 |
| Property Tax | -$187 | |
| Property Insurance | -$78 | |
| Property Management Fees | -$193 | |
|
CASH FLOW
$25
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.
$449,000
PROJECTED PRICE
$2,140
PROJECTED RENT
0.48%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.48% |
| Appreciation Year (1-5) | 5.12% |
| Maintenance Year (1-5) | 3.00% |
| Vacancy | 6.31% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$120,985
LOAN DETAILS
$1,657
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $112,250 |
| Loan Amount | $336,750 |
5.5
YEARS SAVED
$32,787
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,140
LIST RENT -
$0.79
LIST RENT PER SQFT
-
$2,096
COMP ESTIMATED VALUE -
$0.78
COMP AVG. RENT PER SQFT
Comps Range
-
332 Sundown Road Mooresville, NC 3
- 4 beds 3 baths ∙ 2,705 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,705 Sqft ∙ Built 2020
![property image]()
- Rent
- Rent Per SQFT
- $2,140
- $0.79
-
218 Wood Duck Loop Mooresville, NC 1
- 3 beds 3 baths ∙ 2,446 Sqft ∙ Built 1990 3 beds 3 baths ∙ 2,446 Sqft ∙ Built 1990
![property image]()
LEASED 06/10/19- Rent
- Rent Per SQFT
- $1,795
- $0.73
-
135 Charleston Drive Mooresville, NC 2
- 3 beds 3 baths ∙ 2,530 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,530 Sqft ∙ Built 2018
![property image]()
LEASED 06/13/20- Rent
- Rent Per SQFT
- $1,795
- $0.71
-
163 Turnberry Lane Mooresville, NC 4
- 3 beds 2 baths ∙ 2,504 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,504 Sqft ∙ Built 1999
![property image]()
LEASED 08/13/19- Rent
- Rent Per SQFT
- $2,150
- $0.86
-
152 Wood Duck Loop Mooresville, NC 5
- 4 beds 3 baths ∙ 2,740 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,740 Sqft ∙ Built 2002
![property image]()
LEASED 04/16/20- Rent
- Rent Per SQFT
- $2,195
- $0.80
PROPERTY LISTING DETAILS
1.704.562.2515
Allen Tate Lake Norman
