Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2015 Union Street #9 Monroe, NC 28110

3 Beds 2 Baths 1,080 sqft Built 1972

$184,900

List Price

$1,230

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $171.20
  • 2 Days on Market
  • MLS # : 3699293
  • Updated Date : 01/16/2021 at 09:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,080 sqft
  • Baths : 2 full
Listing Agent

Briko Realty Services Nc Llc

Listing Agent's Description

Wonderful opportunity. Newly renovated all brick home that will welcome you from the moment you pull into the driveway. Tucked back off Hwy 200/ Morgan Mill Rd, you are moments away from everything Monroe has to offer. This 3 bedroom, 2 bath home has plenty of space for you! New roof from 2020 . Kitchen offers a large pantry, attached breakfast nook and brand new stove, dishwasher. New white cabinets, Granite counter tops and tile back splash. Both bathrooms have been completely remodeled with new plumbing, New vanities, toilets, shower and tub. New lighting throughout. Huge back yard with grass seed planted for gorgeous green yard in the spring. Landscaped front yard. Carport freshly painted and heated and cooled storage. New central air and gas pack for heat. New windows and upgraded plumbing and electrical throughout with new fixtures. New gutters, windows and door. This house is move in ready and most likely will not last long !!!

SEE MORE

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: 28110

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210kPrice in $113k215k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 28110

ZipNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350Rent in $8011375

* 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
Rock Rest Elementary School Primary Regular 699 67 6
Monroe Middle School Middle Regular 1,068 68 3
Monroe High School High Regular 1,009 70 1

Rock Rest Elementary School

  • Education Level: Primary
  • # of students: 699
  • # of teachers: 67
6
GreatSchools Rating

Monroe Middle School

  • Education Level: Middle
  • # of students: 1,068
  • # of teachers: 68
3
GreatSchools Rating

Monroe High School

  • Education Level: High
  • # of students: 1,009
  • # of teachers: 70
1
GreatSchools Rating
 

$166,410$203,390$184,900

PURCHASE PRICE

$1,107$1,353$1,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,230
EXPENSES Loan Payment -$642
Property Tax -$96
Property Insurance -$48
Property Management Fees -$119
CASH FLOW
$325

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

$1,230

PROJECTED RENT

0.67%

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$100k$200k$300k$400k$500k$600k$700k$800k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$54,749

INVESTMENT

$54,749

Down Payment
$46,225
Rehab Estimate
$5,750
Closing Costs
$2,774

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$642

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $46,225
Loan Amount $138,675
See What Happens When You Reinvest Cash Flow

13.58

YEARS SAVED

$40,593

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,230

    LIST RENT
  • $1.14

    LIST RENT PER SQFT
  • $1,084

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,000
1$1,0002$1,2303$1,2504$1,375
$1,375
RENT COMPS ANALYSIS
  • 2015 Union Street Monroe, NC 2
    • 3 beds 2 baths ∙ 1,080 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,080 Sqft ∙ Built 1972
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,230
    • $1.14
    •  
  • 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
    •  
  • 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
    property image
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.97
    •  
PROPERTY LISTING DETAILS
Peter Greijn
1.877.404.7204
Briko Realty Services Nc Llc
BESbswy