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3659 Taylorsville Highway Statesville, NC 28625

3 Beds 2 Baths 1,450 sqft Built 1963

$225,000

List Price

$1,310

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $155.17
  • 3 Days on Market
  • MLS # : 3696632
  • Updated Date : 01/09/2021 at 15:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,450 sqft
  • Baths : 2 full
Listing Agent

Regal Carolinas Homes Inc

Listing Agent's Description

Freshly renovated all brick ranch on 0.52 acres lot. NO HOA!! This mid-century ranch is immaculate. Move-in ready. Three beds and two baths. Park your boat... park your RV right on your property. The possibilities are many and varied. New AC, Fresh roof.Almost 1500sf unfinished BASEMENT for any of your needs or dreams.

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: 28625

ZipNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200kPrice in $59k213k

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

Zip Code: 28625

ZipNIR Market*CityMarket2010Year20002019 Q275080085090095010001050110011501200125013001350Rent in $7481375

* 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
N B Mills Elementary School Primary Regular 493 35 4
West Iredell Middle School Middle Regular 716 42 5
West Iredell High School High Regular 918 56 4

N B Mills Elementary School

  • Education Level: Primary
  • # of students: 493
  • # of teachers: 35
4
GreatSchools Rating

West Iredell Middle School

  • Education Level: Middle
  • # of students: 716
  • # of teachers: 42
5
GreatSchools Rating

West Iredell High School

  • Education Level: High
  • # of students: 918
  • # of teachers: 56
4
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$782
Property Tax -$169
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
$186

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.

$225,000

PROJECTED PRICE

$1,310

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 2.9%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$782

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$29,687

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,310

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,310

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,2003$1,2004$1,310
$1,310
RENT COMPS ANALYSIS
  • 3659 Taylorsville Highway Statesville, NC 4
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $0.90
    •  
  • 147 Deercroft Drive Statesville, NC 1
    • 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 2003
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.76
    •  
  • 107 Antler Drive Statesville, NC 2
    • 3 beds 2 baths ∙ 1,268 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,268 Sqft ∙ Built 1995
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.95
    •  
  • 109 Miller Farm Road Statesville, NC 3
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 3 beds 2 baths ∙ 1,200 Sqft ∙ Built
    LEASED 09/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.00
    •  
PROPERTY LISTING DETAILS
Alla Rizayev
1.704.502.5992
Regal Carolinas Homes Inc
BESbswy