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PROPERTY INFO
FACTS
- Single Family
- Built In 2021
- Price/Sqft : $117.25
- 5 Days on Market
- MLS # : 3696077
- Updated Date : 01/06/2021 at 14:38
CONSTRUCTION
- Beds : 5
- Floor Size : 2,577 sqft
- Baths : 3 full
Listing Agent
Lennar Sales Corp
Listing Agent's Description
New Frost plan is the complete package! Home includes guest bedroom and full bath on the main level, open kitchen with walk-in pantry, stainless steel gas range oven, stainless steel appliances, Carrara Marmi quartz countertops, gray gloss subway tile backsplash and white Linen cabinets in kitchen. EVP floors in all common areas. Master bedroom (on second floor) includes two walk-in closets, dual sinks, walk-in shower. EVP in all baths and laundry room - laundry located on second level. Bonus room with double door entry on second floor. Walk-in closets in secondary bedrooms! Home directly across from open central green space and has close proximity to the walking trails. Smart home features include a video doorbell, smart front door lock, smart thermostat, smart water monitoring and leak detection system, wifi mesh technology to eliminate dead spots, smart garage hub to monitor and open/close your garage door remotely, and Ring home security kit!
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 | $1,920 |
| EXPENSES | Loan Payment | -$1,050 |
| Property Tax | -$157 | |
| Property Insurance | -$76 | |
| HOA | -$63 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$455
|
||
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.
$302,164
PROJECTED PRICE
$1,920
PROJECTED RENT
0.64%
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
$82,073
LOAN DETAILS
$1,050
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $75,541 |
| Loan Amount | $226,623 |
13.17
YEARS SAVED
$64,877
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,920
LIST RENT -
$0.75
LIST RENT PER SQFT
-
$1,864
COMP ESTIMATED VALUE -
$0.72
COMP AVG. RENT PER SQFT
Comps Range
-
1207 Forkhorn Drive Monroe, NC 4
- 5 beds 3 baths ∙ 2,577 Sqft ∙ Built 2021 5 beds 3 baths ∙ 2,577 Sqft ∙ Built 2021
![property image]()
- Rent
- Rent Per SQFT
- $1,920
- $0.75
-
2708 Woodlands Creek Drive Monroe, NC 1
- 4 beds 3 baths ∙ 2,546 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,546 Sqft ∙ Built 2014
![property image]()
LEASED 12/13/19- Rent
- Rent Per SQFT
- $1,725
- $0.68
-
3329 Christopher Jacob Court Monroe, NC 2
- 4 beds 3 baths ∙ 2,462 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,462 Sqft ∙ Built 2016
![property image]()
LEASED 12/26/19- Rent
- Rent Per SQFT
- $1,845
- $0.75
-
3328 Christopher Jacob Court Monroe, NC 3
- 4 beds 3 baths ∙ 2,480 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,480 Sqft ∙ Built 2017
![property image]()
LEASED 01/12/20- Rent
- Rent Per SQFT
- $1,845
- $0.74
PROPERTY LISTING DETAILS
1.704.996.3879
Lennar Sales Corp
