NOT LISTED FOR SALE

8900 Magnolia Estates Dr Cornelius, NC 28031

Cornelius Area

Estimated Value: $459,000 - $582,000

4 Beds
3.5 Baths
2,390 Sq Ft
$227/Sq Ft Est. Value

Sale Details

Date Sold: June 4, 2021

Last sale price $310,000 $130 Per Sq Ft

Est. 75% increase in value since last sale

Current estimated payment $3,235 / mo

23 Days on Market

Highlights

  • Colonial Architecture
  • Fireplace
  • Carpet
  • Bailey Middle School Rated A-
  • Level Lot

About This Home

As of June 2021

Great investment opportunity with this tenant occupied home. Location of this Cornelius/Lake Norman home is wonderful. Everything is at your fingertips.
Current tenant is MTM and paying under market rent at $1,800 a month. Market rent is $2,200.
This would also be a great owner occupied home for the right buyer who wanted to build instant equity with some renovations. Listed over $125k less than the market to take into account the repairs and updates it needs. This property offers a large level lot. Many options for a dream backyard. This home is being sold as is. No HOA!!

Last Agent to Sell the Property

Justin Faircloth

Brown & Glenn Realty Co Inc License #179053 Listed on: 04/06/2021

Last Buyer's Agent

Shawn Murphy

Lake Norman Realty, Inc. License #295855

Lake Norman Realty, Inc.

Home Details

Home Type

  • Single Family

Year Built

  • Built in 1991

Lot Details

  • Level Lot

Parking

  • 2

Home Design

  • Colonial Architecture
  • Slab Foundation

Interior Spaces

  • 2-Story Property
  • Fireplace

Flooring

  • Carpet
  • Laminate

Listing and Financial Details

  • Assessor Parcel Number 005-262-20

Home Details

Home Type

Single Family

Year Built

Built in 1991

Lot Details

0.44 Acres

Parking

2

Listing Details

  • Property Type: Single Family
  • Property Sub Type: 2 Story
  • Architectural Style: Colonial
  • Ratio Close Price By List Price: 1.03334
  • Ratio Close Price By Original Li: 0.93940
  • Ratio Current Price By Acre: 704545.45
  • Ratio Current Price By Sq Ft: 129.71
  • Year Built: 1991
  • Special Features: None
  • Stories: 2

Interior Features

  • Foundation Details: Slab
  • Upper Level Sq Ft: 1346
  • Full Bathrooms: 3
  • Half Bathrooms: 1
  • Total Bathrooms: 4.00
  • Total Bedrooms: 4
  • Fireplace: Yes
  • Flooring: Carpet, Laminate Wood
  • Laundry Location: Upper
  • Room Count: 2
  • Main Level Sq Ft: 1044
  • Total Sq Ft: 2390

Exterior Features

  • Construction: Brick Partial, Fiber Cement
  • Construction Type: Site Built
  • Exterior Features: Fenced Yard

Garage/Parking

  • Driveway: Concrete
  • Parking: Driveway, Garage - 2 Car

Utilities

  • Heating: Central Air
  • Sewer: City Sewer
  • Water: City Water
  • Water Heater: Electric

Lot Info

  • Lot Features: Level
  • Parcel Number: 005-262-20
  • Zoning Specification: GR

Tax Info

  • Tax Value: 297800.00
  • Tax Location: Cornelius

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 6, 2021
Closed on
Jun 1, 2021
Sold by
Bought by
Seller's Agent
Justin Faircloth
Brown & Glenn Realty Co Inc
Buyer's Agent
Shawn Murphy
Lake Norman Realty, Inc.
List Price
$299,999
Sold Price
$310,000
Premium/Discount to List
$10,001
3.33%
Current Estimated Value
$541,490

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$231,490
Avg. Annual Appreciation
11.39%
Original Mortgage
$209,000
Interest Rate
0.029%
Mortgage Type
New Conventional

Purchase Details

Closed on
May 26, 2011
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$177,154
Interest Rate
0.0325%
Mortgage Type
FHA

Purchase Details

Closed on
Jun 29, 2010
Sold by
Bought by

Purchase Details

Closed on
Jul 13, 2007
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$292,500
Interest Rate
0.0637%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Sep 25, 2006
Sold by
Bought by

Purchase Details

Closed on
Oct 26, 2000
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$150,400
Interest Rate
0.0794%
Mortgage Type
Purchase Money Mortgage
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
Collateral Analytics

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$310,000 Master Title Agency Inc
-- None Available
$326,988 None Available
$292,500 None Available
$246,000 None Available
$188,000 --
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $209,000
Previous Owner $75,500
Previous Owner $177,154
Previous Owner $292,500
Previous Owner $157,000
Previous Owner $150,400
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
06/04/2021 06/04/21 Sold $310,000 +3.3% $130 / Sq Ft
04/30/2021 04/30/21 Pending -- -- --
04/27/2021 04/27/21 Price Changed $299,999 0.0% $126 / Sq Ft
04/27/2021 04/27/21 For Sale $299,999 -9.1% $126 / Sq Ft
04/06/2021 04/06/21 For Sale $329,999 -- $138 / Sq Ft
04/06/2021 04/06/21 Pending -- -- --
Source: Canopy MLS

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $3,126 $468,800 $100,000 $368,800
2024 $3,126 $468,800 $100,000 $368,800
2023 $3,074 $468,800 $100,000 $368,800
2022 $2,568 $297,800 $95,000 $202,800
2021 $2,538 $297,800 $95,000 $202,800
2020 $2,538 $297,800 $95,000 $202,800
2019 $2,532 $297,800 $95,000 $202,800
2018 $2,618 $240,300 $75,000 $165,300
2017 $2,597 $240,300 $75,000 $165,300
2016 $2,593 $240,300 $75,000 $165,300
2015 $2,554 $240,300 $75,000 $165,300
2014 $2,552 $0 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • J

    Seller's Agent in 2021

    Justin Faircloth

    Brown & Glenn Realty Co Inc

    (704) 650-3533

    9 Total Sales

    Justin Faircloth
    Section Image
  • Shawn Murphy

    Buyer's Agent in 2021

    Shawn Murphy

    Lake Norman Realty, Inc.

    (704) 978-9293

    20 Total Sales

    Shawn Murphy
    Section Image
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Map

Source: Canopy MLS

MLS Number: CAR3725726

Canopy MLS

APN: 005-262-20

North Carolina Mecklenburg County Cornelius 28031

8900 Magnolia Estates Dr, Cornelius, NC

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Canopy MLS All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website.
Based on information submitted to the MLS GRID
Listings courtesy of Canopy MLS as distributed by MLS GRID

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