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2039 Yearden Lane #190 Monroe, NC 28110

3 Beds 2 Baths 2,062 sqft Built 2021

$351,555

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $170.49
  • 2 Days on Market
  • MLS # : 3718072
  • Updated Date : 03/13/2021 at 11:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,062 sqft
  • Baths : 2 full
Listing Agent

Ccnc Realty Group Llc

Listing Agent's Description

Weddington Pointe is a community for all!!! Enjoy all that Weddington Pointe has to offer with natural pond, pool and pool house. This is an open floor plan with funcitionality. Large kitchen over looks great room granite countertops 42" cabinets, luxury vinyl plank in foyer, dining, great room and kitchen!! Ceiling fan prewires in all bedrooms, great room along with date outlets. Fiber cement exteriors, granite countertops, backsplash, gas stainless steel appliance packages, ceramic tile in all wet areas and laundry room. Minutes from Wesley Chapel village commons.

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
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
 

$316,400$386,711$351,555

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$1,221
Property Tax -$183
Property Insurance -$66
HOA -$83
Property Management Fees -$119
CASH FLOW
-$162

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.

$351,555

PROJECTED PRICE

$1,510

PROJECTED RENT

0.43%

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

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$95,162

INVESTMENT

$95,162

Down Payment
$87,889
Rehab Estimate
$2,000
Closing Costs
$5,273

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,221

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,889
Loan Amount $263,666
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$8,120

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,552

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,510
1$1,5102$1,5503$1,5754$1,6255$1,650
$1,650
RENT COMPS ANALYSIS
  • 2039 Yearden Lane Monroe, NC 1
    • 3 beds 2 baths ∙ 2,062 Sqft ∙ Built 2021 3 beds 2 baths ∙ 2,062 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.73
    •  
  • 4306 Marys Point Road Monroe, NC 2
    • 3 beds 3 baths ∙ 2,198 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,198 Sqft ∙ Built 2006
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.71
    •  
  • 310 Waterlemon Way Monroe, NC 3
    • 3 beds 3 baths ∙ 2,191 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,191 Sqft ∙ Built 2006
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.72
    •  
  • 615 Waterlemon Way Monroe, NC 4
    • 4 beds 3 baths ∙ 2,060 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,060 Sqft ∙ Built 2013
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.79
    •  
  • 421 Matfield Court Monroe, NC 5
    • 4 beds 3 baths ∙ 2,125 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,125 Sqft ∙ Built 2004
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.78
    •  
PROPERTY LISTING DETAILS
Tracy Olson
1.704.301.0804
Ccnc Realty Group Llc
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3718072
Last Updated: 03/13/2021
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