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PROPERTY INFO
FACTS
- Single Family
- Built In 1959
- Price/Sqft : $169.23
- 11 Days on Market
- MLS # : 3690447
- Updated Date : 12/14/2020 at 00:05
CONSTRUCTION
- Beds : 3
- Floor Size : 975 sqft
- Baths : 1 full
Listing Agent
Coldwell Banker Realty
Listing Agent's Description
Updated and ready for you. This property features a fenced back yard, New roof, per seller in 2019, New HVAC, per seller in 2019, Remodeled detached building that could be used for...just about anything you want...work shop, home school, She Shed, Man Cave, storage or concert to a two car garage....it's your call...New Refrigerator, washer/dryer and Range oven being installed. Located on a quiet street that is close to shopping, schools and hospital. Plus no neighbor on one side for a greater sense of privacy. Snickers, the dog in some photos, does not convey...sorry.
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: 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 | $1,000 |
| EXPENSES | Loan Payment | -$609 |
| Property Tax | -$87 | |
| Property Insurance | -$46 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$140
|
||
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.
$165,000
PROJECTED PRICE
$1,000
PROJECTED RENT
0.61%
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
$49,475
LOAN DETAILS
$609
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $41,250 |
| Loan Amount | $123,750 |
9.67
YEARS SAVED
$26,299
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,000
LIST RENT -
$1.03
LIST RENT PER SQFT
-
$995
COMP ESTIMATED VALUE -
$1.02
COMP AVG. RENT PER SQFT
Comps Range
-
1909 Steele Street Monroe, NC 2
- 3 beds 1 baths ∙ 975 Sqft ∙ Built 1959 3 beds 1 baths ∙ 975 Sqft ∙ Built 1959
![property image]()
- Rent
- Rent Per SQFT
- $1,000
- $1.03
-
1406 Stafford Extension Monroe, NC 1
- 3 beds 2 baths ∙ 1,003 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,003 Sqft ∙ Built 1999
![property image]()
LEASED 04/29/20- Rent
- Rent Per SQFT
- $1,000
- $1.00
-
3452 Walkup Avenue Monroe, NC 3
- 3 beds 2 baths ∙ 1,205 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,205 Sqft ∙ Built 1996
![property image]()
LEASED 06/30/20- Rent
- Rent Per SQFT
- $1,250
- $1.04
PROPERTY LISTING DETAILS
1.704.207.9699
Coldwell Banker Realty
