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:
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Tons of Competition from Homebuyers
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Below Market Rents
VALUE PLAYS AFTER ACQUISITION:
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Bought Right by Finding Off Market Deal
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Bought Right by Finding Motivated Seller
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Increased Rent on Existing Unit
RESULTS AT THIS TIME:
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Purchased for $75k (Appraised at $130k)
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Increased Rent from $450/mo to $1000/mo
FUTURE VALUE PLAYS:
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Increase Rental Rates to $1200/mo
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Renovate and Refinance or 1031 to Capture Equity