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2026 Eustice Lane #139 Monroe, NC 28110

4 Beds 3 Baths 2,718 sqft Built 2021

$342,990

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $126.19
  • 5 Days on Market
  • MLS # : 3696012
  • Updated Date : 01/06/2021 at 12:23
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,718 sqft
  • Baths : 2 full , 1 half
Listing Agent

Nvr Homes, Inc./ryan Homes

Listing Agent's Description

Looking for a new home in the Union County area for an affordable price? Look no further than Harkey Creek. The Hudson floor plan is a home that is open, but still functional; beautiful, but practical. The Hudson offers spaces to fit the way you live, even if the way you live changes. Make the first floor what you want it to be, with an open flex space that can become a library; a study that can become a first floor bedroom with a bath, a huge island and living space. The second floor has an owner’s suite that’s like a personal spa with a flexible bath and two huge closets. Choose an extra bath, a loft, or a bonus room – whatever you need, the Hudson can do it. Community amenities include a club house, playground and a pool. HOME IS TO BE BUILT DELIVERY DATE IS SUBJECT TO CHANGE.

SEE MORE

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: 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
Shiloh Elementary School Primary Regular 564 39 6
Sun Valley Middle School Middle Regular 1,365 69 6
Sun Valley High School High Regular 1,306 76 7

Shiloh Elementary School

  • Education Level: Primary
  • # of students: 564
  • # of teachers: 39
6
GreatSchools Rating

Sun Valley Middle School

  • Education Level: Middle
  • # of students: 1,365
  • # of teachers: 69
6
GreatSchools Rating

Sun Valley High School

  • Education Level: High
  • # of students: 1,306
  • # of teachers: 76
7
GreatSchools Rating
 

$308,691$377,289$342,990

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$1,191
Property Tax -$179
Property Insurance -$78
HOA -$63
Property Management Fees -$119
CASH FLOW
-$20

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$342,990

PROJECTED PRICE

$1,610

PROJECTED RENT

0.47%

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) 3.00%
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

PROJECTED ANNUAL CASH FLOW

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

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$92,892

INVESTMENT

$92,892

Down Payment
$85,748
Rehab Estimate
$2,000
Closing Costs
$5,145

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,191

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $85,748
Loan Amount $257,243
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$17,097

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.59

    LIST RENT PER SQFT
  • $1,638

    COMP ESTIMATED VALUE
  • $0.6

    COMP AVG. RENT PER SQFT
Comps Range
$1,610
1$1,6102$1,6953$1,6954$1,6955$1,850
$1,850
RENT COMPS ANALYSIS
  • 2026 Eustice Lane Monroe, NC 1
    • 4 beds 3 baths ∙ 2,718 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,718 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.59
    •  
  • 4025 Linville Falls Lane Monroe, NC 2
    • 5 beds 3 baths ∙ 2,750 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,750 Sqft ∙ Built 2005
    LEASED 07/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.62
    •  
  • 2316 Silver Run Drive Monroe, NC 3
    • 4 beds 3 baths ∙ 2,792 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,792 Sqft ∙ Built 2004
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.61
    •  
  • 4020 Linville Falls Lane Monroe, NC 4
    • 4 beds 3 baths ∙ 2,916 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,916 Sqft ∙ Built 2005
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.58
    •  
  • 6002 Brook Valley Run Monroe, NC 5
    • 5 beds 3 baths ∙ 3,060 Sqft ∙ Built 2006 5 beds 3 baths ∙ 3,060 Sqft ∙ Built 2006
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.60
    •  
PROPERTY LISTING DETAILS
Jerry Smith
1.704.610.5282
Nvr Homes, Inc./ryan Homes
BESbswy