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2007 Saye Brook Drive Monroe, NC 28112

3 Beds 2 Baths 2,300 sqft Built 2007

$375,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $163.04
  • 6 Days on Market
  • MLS # : 3704741
  • Updated Date : 02/05/2021 at 00:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,300 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

Beautiful all brick home in the beautiful Saye Brook community in Union County. This home has 3 BR / 2 BA. Master on main with sitting area. There is a bonus room upstairs, with a walk in attic, with tons of storage space. Home has been freshly painted, and new carpet being installed. Landscaping has been redone as well. It's ready to move in. Hurry on this one!!! Showings start on Friday (2/5/21)

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MARKET HIGHLIGHTS

  • 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: 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
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,303
Property Tax -$198
Property Insurance -$70
Property Management Fees -$119
CASH FLOW
$110

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.

$375,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,303

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

6.92

YEARS SAVED

$31,121

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,886

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,800
$1,800
RENT COMPS ANALYSIS
  • 2007 Saye Brook Drive Monroe, NC 2
    • 3 beds 2 baths ∙ 2,300 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,300 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.78
    •  
  • 3005 Grey Pond Lane Monroe, NC 1
    • 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 2000
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.83
    •  
PROPERTY LISTING DETAILS
Misty Cuthbertson
1.704.221.6100
Exp Realty Llc
BESbswy