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PROPERTY INFO
FACTS
- Single Family
- Built In 1958
- Price/Sqft : $148.38
- 9 Days on Market
- MLS # : 3687067
- Updated Date : 12/06/2020 at 00:05
CONSTRUCTION
- Beds : 3
- Floor Size : 1,449 sqft
- Baths : 2 full
Listing Agent
Coldwell Banker Realty
Listing Agent's Description
Charming ranch home in Stewart Park! Welcoming from the minute you drive up, this full brick ranch has so much to offer! Beautifully refinished hardwoods, freshly painted, lots of character! Your living room & master have wood burning fireplaces, wood faux blinds thru-out, slate tile in kitchen, new microwave, newer Samsung refrigerator also to remain. Enjoy this great size lot, almost 1/2 acre! Walk out to your screened in porch to enjoy the fresh air or step out on your patio and the privacy of a newer 6' stained privacy fence w/2 gate entrances! Carport converted to garage in 2020 and main sewer line was replaced in 2020. Owners have taken great pride in this home! Do not miss out on this one!
SEE MORE
- 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: 28112
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 28112
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,270 |
| EXPENSES | Loan Payment | -$793 |
| Property Tax | -$113 | |
| Property Insurance | -$54 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$190
|
||
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.
$215,000
PROJECTED PRICE
$1,270
PROJECTED RENT
0.59%
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
$62,725
LOAN DETAILS
$793
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $53,750 |
| Loan Amount | $161,250 |
9.92
YEARS SAVED
$35,794
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,270
LIST RENT -
$0.88
LIST RENT PER SQFT
-
$1,500
COMP ESTIMATED VALUE -
$1.04
COMP AVG. RENT PER SQFT
Comps Range
-
1303 Lucille Avenue Monroe, NC 1
- 3 beds 2 baths ∙ 1,449 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,449 Sqft ∙ Built 1958
- Rent
- Rent Per SQFT
- $1,270
- $0.88
-
2129 Gambrel Way Monroe, NC 2
- 3 beds 2 baths ∙ 1,224 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,224 Sqft ∙ Built 1998
LEASED 12/13/19- Rent
- Rent Per SQFT
- $1,295
- $1.06
-
514 Hunley Street Monroe, NC 3
- 3 beds 2 baths ∙ 1,252 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,252 Sqft ∙ Built 1998
LEASED 03/02/20- Rent
- Rent Per SQFT
- $1,300
- $1.04
-
721 Forest Valley Lane Monroe, NC 4
- 3 beds 2 baths ∙ 1,413 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,413 Sqft ∙ Built 1999
LEASED 06/04/20- Rent
- Rent Per SQFT
- $1,375
- $0.97
-
1203 Lucille Avenue Monroe, NC 5
- 3 beds 2 baths ∙ 1,312 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,312 Sqft ∙ Built 1956
LEASED 01/13/20- Rent
- Rent Per SQFT
- $1,391
- $1.06
PROPERTY LISTING DETAILS
1.704.363.2271
Coldwell Banker Realty
