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103 Buck Hill Road Monroe, NC 28112

3 Beds 2 Baths 1,930 sqft Built 1962

INVESTimate

$225,000

List Price

$1,320

$1,188 - $1,452

Rent Est.

$241,065  ( +7.14%)   1 YR EST. FORECAST

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1962
  • Price/Sqft : $116.58
  • 5 Days on Market
  • MLS # : 3654670
  • Updated Date : 08/22/2020 at 19:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,930 sqft
  • Baths : 2 full
Listing Agent

Tanya Lovejoy Capers Realty

Listing Agent's Description

Lovely 3 bedroom 2 bath house with tons of character which would make a great home for a first time buyer. Features a spacious garage, wonderful u driveway, family, and dining rooms, huge den, and large kitchen. For your entertainment needs there is a sunroom, and a large deck on this beautiful landscaped tree lined property. You will love everything that you can do with this house to make it your dream home. Act fast because this property will not last and I will hate to be the one to tell you when you call, sorry someone else saw the value and bought it.

SEE MORE

MARKET HIGHLIGHTS

  • 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: 28112

ZipNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210kPrice in $93k213k

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

Zip Code: 28112

ZipNIR Market*CityMarket2010Year20002019 Q280085090095010001050110011501200125013001350Rent in $7651375

* 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
Walter Bickett Elementary School Primary Regular 694 64 1
Monroe Middle School Middle Regular 1,068 68 3
Monroe High School High Regular 1,009 70 1

Walter Bickett Elementary School

  • Education Level: Primary
  • # of students: 694
  • # of teachers: 64
1
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
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$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$100k$200k$300k$400k$500k$600k$700k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$830
Property Tax -$119
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
$189

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.

$225,000

PROJECTED PRICE

$1,320

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 7.14%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

8.67

YEARS SAVED

$31,747

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,320

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,414

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3203$1,3454$1,3505$1,500
$1,500
RENT COMPS ANALYSIS
  • 103 Buck Hill Road Monroe, NC 2
    • 3 beds 2 baths ∙ 1,930 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,930 Sqft ∙ Built 1962
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $0.68
    •  
  • 822 Sinclair Drive Monroe, NC 1
    • 3 beds 3 baths ∙ 1,900 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,900 Sqft ∙ Built 2006
    property image
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.68
    •  
  • 2314 Lexington Avenue Monroe, NC 3
    • 3 beds 3 baths ∙ 1,728 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,728 Sqft ∙ Built 2004
    property image
    LEASED 10/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $0.78
    •  
  • 1400 Lancaster Avenue Monroe, NC 4
    • 3 beds 2 baths ∙ 1,950 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,950 Sqft ∙ Built 1962
    property image
    LEASED 07/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.69
    •  
  • 1911 Kingstree Drive Monroe, NC 5
    • 4 beds 3 baths ∙ 2,041 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,041 Sqft ∙ Built 2006
    property image
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.73
    •  
PROPERTY LISTING DETAILS
Tanya Lovejoy Capers
1.704.458.6012
Tanya Lovejoy Capers Realty
BESbswy