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PROPERTY INFO
FACTS
- Single Family
- Built In 1980
- Price/Sqft : $197.64
- 2 Days on Market
- MLS # : 3710499
- Updated Date : 02/20/2021 at 21:51
CONSTRUCTION
- Beds : 3
- Floor Size : 1,442 sqft
- Baths : 2 full
Listing Agent
Price And Company Real Estate Llc
Listing Agent's Description
All brick 3 BR, 2 BA, country ranch home in sought after area in Unionville. Large rocking chair front porch, patio/ carport, level front and back yard with wooded area in back and producing nut trees. Large wood burning brick fireplace, clean wood laminate flooring, fresh paint, newer windows and doors. **Listing agent is related to seller**
SEE MORE
- 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
* 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 | $1,420 |
| EXPENSES | Loan Payment | -$990 |
| Property Tax | -$150 | |
| Property Insurance | -$54 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$106
|
||
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.
$285,000
PROJECTED PRICE
$1,420
PROJECTED RENT
0.50%
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) | 8.00% |
| 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
$81,275
LOAN DETAILS
$990
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $71,250 |
| Loan Amount | $213,750 |
7.42
YEARS SAVED
$25,859
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,420
LIST RENT -
$0.98
LIST RENT PER SQFT
-
$1,327
COMP ESTIMATED VALUE -
$0.92
COMP AVG. RENT PER SQFT
Comps Range
-
108 E Unionville Indian Trail Road Monroe, NC 2
- 3 beds 2 baths ∙ 1,442 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,442 Sqft ∙ Built 1980
- Rent
- Rent Per SQFT
- $1,420
- $0.98
-
619-a E Unionville Indian Trail Road Monroe, NC 1
- 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1924 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1924
LEASED 12/17/19- Rent
- Rent Per SQFT
- $1,200
- $0.92
PROPERTY LISTING DETAILS
1.704.297.9163
Price And Company Real Estate Llc
MLS #: 3710499
Last Updated: 02/20/2021
