CASE STUDY

MOORESVILLE SF
MOORESVILLE, NC

December of 2016, we acquired this 1500 square feet, 3 bedroom/2 bath ranch style home. This property is well located on a large corner lot within the nationally recognized Mooresville school system. 

Due to high demand from homebuyers, it was imperative we purchased this property off market. 

CHALLENGES BEFORE ACQUISITION:

  • Tons of Competition from Homebuyers

  • Below Market Rents

VALUE PLAYS AFTER ACQUISITION:    

  • Bought Right by Finding Off Market Deal

  • Bought Right by Finding Motivated Seller 

  • Increased Rent on Existing Unit

RESULTS AT THIS TIME:

  • Purchased for $75k (Appraised at $130k)

  • Increased Rent from $450/mo to $1000/mo

FUTURE VALUE PLAYS:

  • Increase Rental Rates to $1200/mo

  • Renovate and Refinance or 1031 to Capture Equity