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PROPERTY INFO
FACTS
- Single Family
- Built In 2021
- Price/Sqft : $137.24
- 2 Days on Market
- MLS # : 3701482
- Updated Date : 01/23/2021 at 15:52
CONSTRUCTION
- Beds : 5
- Floor Size : 2,850 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 Red Cedar is an open floor plan with a Large 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
- 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)
- 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)
PRICE & RENT TRENDS
Zip Code: 28110
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 28110
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,690 |
| EXPENSES | Loan Payment | -$1,359 |
| Property Tax | -$204 | |
| Property Insurance | -$81 | |
| HOA | -$83 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$155
|
||
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.
$391,134
PROJECTED PRICE
$1,690
PROJECTED RENT
0.43%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$105,651
LOAN DETAILS
$1,359
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $97,784 |
| Loan Amount | $293,351 |
3.25
YEARS SAVED
$10,363
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,690
LIST RENT -
$0.59
LIST RENT PER SQFT
-
$1,660
COMP ESTIMATED VALUE -
$0.58
COMP AVG. RENT PER SQFT
Comps Range
-
1014 Yearden Lane Monroe, NC 3
- 5 beds 3 baths ∙ 2,850 Sqft ∙ Built 2021 5 beds 3 baths ∙ 2,850 Sqft ∙ Built 2021
![property image]()
- Rent
- Rent Per SQFT
- $1,690
- $0.59
-
324 Annaberg Lane Monroe, NC 1
- 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
-
4722 Manchineel Lane Monroe, NC 2
- 4 beds 3 baths ∙ 2,888 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,888 Sqft ∙ Built 2015
![property image]()
LEASED 02/24/20- Rent
- Rent Per SQFT
- $1,625
- $0.56
-
404 Annaberg Lane Monroe, NC 4
- 5 beds 4 baths ∙ 2,956 Sqft ∙ Built 2005 5 beds 4 baths ∙ 2,956 Sqft ∙ Built 2005
![property image]()
LEASED 03/26/20- Rent
- Rent Per SQFT
- $1,700
- $0.58
-
4607 Maho Lane Monroe, NC 5
- 4 beds 3 baths ∙ 2,908 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,908 Sqft ∙ Built 2003
![property image]()
LEASED 03/12/20- Rent
- Rent Per SQFT
- $1,705
- $0.59
PROPERTY LISTING DETAILS
1.704.584.9960
Ccnc Realty Group Llc
