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2061 Yearden Lane #196 Monroe, NC 28110

5 Beds 3 Baths 2,850 sqft Built 2021

$422,094

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $148.10
  • 4 Days on Market
  • MLS # : 3712446
  • Updated Date : 02/25/2021 at 20:54
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,850 sqft
  • Baths : 3 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 a natural pond, tot lot, community pool and cabana, sidewalks, and trash pickup included. The Red Cedar is an open floor plan with a Large granite island overlooking the great room. Tall 9 ft ceilings throughout, 42" upper cabinets in the kitchen with tile backsplash, gas stainless steel appliance packages, Fireplace included, luxury vinyl plank flooring on main, ceramic tile in all bathrooms and laundry room! Ceiling fan prewires in all bedrooms, great room, and loft. Fiber cement exteriors with stone or brick per elevation. Minutes from shopping and dining in both Wesley Chapel Village Commons and Sun Valley Commons. Come pick out your new home with us, call today!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$379,885$464,303$422,094

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$1,466
Property Tax -$220
Property Insurance -$81
HOA -$83
Property Management Fees -$119
CASH FLOW
-$189

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.

$422,094

PROJECTED PRICE

$1,780

PROJECTED RENT

0.42%

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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$113,855

INVESTMENT

$113,855

Down Payment
$105,524
Rehab Estimate
$2,000
Closing Costs
$6,331

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,466

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $105,524
Loan Amount $316,571
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$9,984

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $0.62

    LIST RENT PER SQFT
  • $1,746

    COMP ESTIMATED VALUE
  • $0.61

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7003$1,7054$1,7505$1,780
$1,780
RENT COMPS ANALYSIS
  • 2061 Yearden Lane Monroe, NC 5
    • 5 beds 3 baths ∙ 2,850 Sqft ∙ Built 2021 5 beds 3 baths ∙ 2,850 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.62
    •  
  • 612 Lindsborg Trail Monroe, NC 1
    • 4 beds 3 baths ∙ 2,650 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,650 Sqft ∙ Built 2005
    property image
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.64
    •  
  • 404 Annaberg Lane Monroe, NC 2
    • 5 beds 4 baths ∙ 2,956 Sqft ∙ Built 2005 5 beds 4 baths ∙ 2,956 Sqft ∙ Built 2005
    property image
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.58
    •  
  • 4607 Maho Lane Monroe, NC 3
    • 4 beds 3 baths ∙ 2,908 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,908 Sqft ∙ Built 2003
    property image
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,705
    • $0.59
    •  
  • 604 Circle Trace Road Monroe, NC 4
    • 4 beds 3 baths ∙ 2,755 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,755 Sqft ∙ Built 2000
    property image
    LEASED 04/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.64
    •  
PROPERTY LISTING DETAILS
Tracy Olson
1.704.301.0804
Ccnc Realty Group Llc
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3712446
Last Updated: 02/25/2021
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