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PROPERTY INFO
FACTS
- Single Family
- Built In 1973
- Price/Sqft : $134.18
- 4 Days on Market
- MLS # : 3702695
- Updated Date : 01/30/2021 at 14:56
CONSTRUCTION
- Beds : 3
- Floor Size : 1,378 sqft
- Baths : 2 full
Listing Agent
Keller Williams Select
Listing Agent's Description
Motivated seller of this move in ready home. Home has 3bedroom, 2baths and is located on a large corner lot with beautiful views. This Unique Property has a workshop with a 1 car garage, plumbing and electric. Bring the backyard to life with a BBQ or fire pit. Original hardwood floors throughout the home. Plenty of cabinet space in the kitchen, large dining room for family get togethers. Built in cabinetry in laundry that you can use for a pantry.
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: 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 | $1,330 |
| EXPENSES | Loan Payment | -$642 |
| Property Tax | -$98 | |
| Property Insurance | -$53 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$418
|
||
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.
$184,900
PROJECTED PRICE
$1,330
PROJECTED RENT
0.72%
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
$54,749
LOAN DETAILS
$642
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $46,225 |
| Loan Amount | $138,675 |
15.25
YEARS SAVED
$46,332
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,330
LIST RENT -
$0.97
LIST RENT PER SQFT
-
$1,326
COMP ESTIMATED VALUE -
$0.96
COMP AVG. RENT PER SQFT
Comps Range
-
1502 Maurice Street Monroe, NC 4
- 3 beds 2 baths ∙ 1,378 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,378 Sqft ∙ Built 1973
- Rent
- Rent Per SQFT
- $1,330
- $0.97
-
717 Forest Valley Lane Monroe, NC 1
- 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 2000
LEASED 04/29/20- Rent
- Rent Per SQFT
- $1,225
- $0.86
-
514 Hunley Street Monroe, NC 2
- 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
-
900 Cherry Street Monroe, NC 3
- 3 beds 2 baths ∙ 1,430 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,430 Sqft ∙ Built 1955
LEASED 06/11/20- Rent
- Rent Per SQFT
- $1,300
- $0.91
-
721 Forest Valley Lane Monroe, NC 5
- 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
PROPERTY LISTING DETAILS
1.845.800.5878
Keller Williams Select
