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1515 Bradley Drive Monroe, NC 28112

3 Beds 3 Baths 1,504 sqft Built 1995

INVESTimate

$249,900

List Price

$1,570

$1,413 - $1,727

Rent Est.

$267,743  ( +7.14%)   1 YR EST. FORECAST

PROPERTY INFO

August 26, 2020 RECENTLY ADDED
FACTS
  • Built In 1995
  • Price/Sqft : $166.16
  • 2 Days on Market
  • MLS # : 3654808
  • Updated Date : 08/25/2020 at 19:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,504 sqft
  • Baths : 3 full
Listing Agent

Carolina Choice Realty

Listing Agent's Description

Welcome Home! If you've been looking for that perfect home with a country feel and just outside the city limits yet still just minutes from shopping and dining, then this is the home you've been looking for. This beautiful modern home is nestled back in a quite community with a huge yard to enjoy with a beautiful view and a firepit area for your nights and weekends. As you walk inside, you will find gorgeous tile flooring throughout the foyer, living room, kitchen and hall. The Kitchen has beautful countertops with stainless steel Samsung Appliances. There are a lot of cabinets and closet space throughout the home. The bedrooms have carpet and each having a dash of color to brighten the rooms. The Master Bedroom offers two closets and a stunning bathroom with a beautiful countertop and a HUGE walk in shower that anyone would love to have! Also, there is a Garage/Bonus room with it's own HVAC, ask agent for more info. This is a MUST SEE home, don't delay & miss out!

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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
Western Union Elementary School Primary Regular 660 48 7
Parkwood Middle School Middle Regular 965 55 7
Parkwood High School High Regular 1,006 57 5

Western Union Elementary School

  • Education Level: Primary
  • # of students: 660
  • # of teachers: 48
7
GreatSchools Rating

Parkwood Middle School

  • Education Level: Middle
  • # of students: 965
  • # of teachers: 55
7
GreatSchools Rating

Parkwood High School

  • Education Level: High
  • # of students: 1,006
  • # of teachers: 57
5
GreatSchools Rating
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$922
Property Tax -$132
Property Insurance -$56
Property Management Fees -$141
CASH FLOW
$319

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.

$249,900

PROJECTED PRICE

$1,570

PROJECTED RENT

0.63%

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$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

11.17

YEARS SAVED

$49,679

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,602

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,4503$1,570
$1,570
RENT COMPS ANALYSIS
  • 1515 Bradley Drive Monroe, NC 3
    • 3 beds 3 baths ∙ 1,504 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,504 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $1.04
    •  
  • 3125 Deer Track Lane Monroe, NC 1
    • 3 beds 2 baths ∙ 1,295 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,295 Sqft ∙ Built 1990
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.97
    •  
  • 3224 Deer Track Lane Monroe, NC 2
    • 3 beds 2 baths ∙ 1,247 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,247 Sqft ∙ Built 1991
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.16
    •  
PROPERTY LISTING DETAILS
Kristi Griffin
1.704.991.5327
Carolina Choice Realty
BESbswy