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101 Serenity Hills Drive Monroe, NC 28110

3 Beds 2 Baths 1,356 sqft Built 1993

$269,000

List Price

$1,625

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $198.38
  • MLS # : CAR3761424
  • Updated Date : 07/12/2021 at 13:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,356 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Ballantyne Area

Listing Agent's Description

This is a must see!!! Welcome home to this move-in ready beautiful ranch situated on a corner lot with NO HOA! This home has a large deck outback, firepit, and fenced-in yard on over an acre. Garage is equipped with RV hookup. Outdoor playset to convey.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Rocky River Elementary School Primary Regular 844 58 6
Monroe Middle School Middle Regular 1,068 68 3
Monroe High School High Regular 1,009 70 1

Rocky River Elementary School

  • Education Level: Primary
  • # of students: 844
  • # of teachers: 58
6
GreatSchools Rating

Monroe Middle School

  • Education Level: Middle
  • # of students: 1,068
  • # of teachers: 68
3
GreatSchools Rating

Monroe High School

  • Education Level: High
  • # of students: 1,009
  • # of teachers: 70
1
GreatSchools Rating
 

$242,100$295,900$269,000

PURCHASE PRICE

$1,463$1,788$1,625

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,625
EXPENSES Loan Payment -$934
Property Tax -$142
Property Insurance -$53
Property Management Fees -$119
CASH FLOW
$377

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.

$269,000

PROJECTED PRICE

$1,625

PROJECTED RENT

0.60%

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) 8.00%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,035

INVESTMENT

$77,035

Down Payment
$67,250
Rehab Estimate
$5,750
Closing Costs
$4,035

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$934

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,250
Loan Amount $201,750
See What Happens When You Reinvest Cash Flow

12.33

YEARS SAVED

$52,399

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,625

    LIST RENT
  • $1.2

    LIST RENT PER SQFT
  • $1,556

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3493$1,4754$1,5755$1,625
$1,625
RENT COMPS ANALYSIS
  • 101 Serenity Hills Drive Monroe, NC 5
    • 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.20
    •  
  • 608 Charles Franklin Street Monroe, NC 1
    • 3 beds 1 baths ∙ 1,075 Sqft ∙ Built 1965 3 beds 1 baths ∙ 1,075 Sqft ∙ Built 1965
    LEASED 05/27/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.21
    •  
  • 2437 River Chase Drive Monroe, NC 2
    • 3 beds 2 baths ∙ 1,150 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,150 Sqft ∙ Built 1996
    LEASED 01/31/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,349
    • $1.17
    •  
  • 2412 Hunters Way Monroe, NC 3
    • 3 beds 2 baths ∙ 1,346 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,346 Sqft ∙ Built 1996
    LEASED 05/03/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.10
    •  
  • 2511 Hopewood Lane Monroe, NC 4
    • 3 beds 2 baths ∙ 1,415 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,415 Sqft ∙ Built 1991
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.11
    •  
PROPERTY LISTING DETAILS
Lara Chelf
Keller Williams Ballantyne Area
BESbswy