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1007 Yearden Lane #216 Monroe, NC 28110

4 Beds 3 Baths 2,517 sqft Built 2021

$378,350

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $150.32
  • 5 Days on Market
  • MLS # : 3696194
  • Updated Date : 01/08/2021 at 16:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,517 sqft
  • Baths : 3 full
Listing Agent

Ccnc Realty Group Llc

Listing Agent's Description

Weddington Pointe is a community for all!!! Enjoy all that Weddington Pointe has to offer with a natural pond, tot lot, community pool and pool house. The Maple is an open floor plan with a granite kitchen island overlooking the great room. Granite countertops, 42" cabinets, 9 ft ceilings throughout, tile backsplash, gas stainless steel appliance packages, Fireplace, luxury vinyl plank in foyer, dining, great room and kitchen, ceramic tile in all bathrooms and laundry room!! Ceiling fan prewires in all bedrooms, great room, and loft. Cable prewire in all bedrooms and great room. Fiber cement exteriors with stone or brick per elevation. Minutes from shopping and dining in both Wesley Chapel Village Commons and Sun Valley Commons.

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: 28110

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210kPrice in $113k215k

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

Zip Code: 28110

ZipNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350Rent in $8011375

* 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
Shiloh Elementary School Primary Regular 564 39 6
Sun Valley Middle School Middle Regular 1,365 69 6
Sun Valley High School High Regular 1,306 76 7

Shiloh Elementary School

  • Education Level: Primary
  • # of students: 564
  • # of teachers: 39
6
GreatSchools Rating

Sun Valley Middle School

  • Education Level: Middle
  • # of students: 1,365
  • # of teachers: 69
6
GreatSchools Rating

Sun Valley High School

  • Education Level: High
  • # of students: 1,306
  • # of teachers: 76
7
GreatSchools Rating
 

$340,515$416,185$378,350

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,314
Property Tax -$197
Property Insurance -$75
HOA -$83
Property Management Fees -$119
CASH FLOW
-$148

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$378,350

PROJECTED PRICE

$1,640

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 7.1%
Maintenance Year (1-5) 3.00%
Vacancy 6.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$102,263

INVESTMENT

$102,263

Down Payment
$94,588
Rehab Estimate
$2,000
Closing Costs
$5,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,314

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $94,588
Loan Amount $283,763
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$10,194

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $1,623

    COMP ESTIMATED VALUE
  • $0.65

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5953$1,5954$1,6405$1,845
$1,845
RENT COMPS ANALYSIS
  • 1007 Yearden Lane Monroe, NC 4
    • 4 beds 3 baths ∙ 2,517 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,517 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.65
    •  
  • 612 Latimer Way Monroe, NC 1
    • 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 2006
    property image
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.66
    •  
  • 5108 Cruz Bay Drive Monroe, NC 2
    • 3 beds 3 baths ∙ 2,595 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,595 Sqft ∙ Built 2007
    property image
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.61
    •  
  • 324 Annaberg Lane Monroe, NC 3
    • 4 beds 3 baths ∙ 2,680 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,680 Sqft ∙ Built 2004
    property image
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.60
    •  
  • 315 Annaberg Lane Monroe, NC 5
    • 4 beds 3 baths ∙ 2,604 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,604 Sqft ∙ Built 2005
    property image
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.71
    •  
PROPERTY LISTING DETAILS
Jon Diciasare
1.704.584.9960
Ccnc Realty Group Llc
BESbswy