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2154 Moselle Drive Monroe, NC 28110

5 Beds 4 Baths 3,424 sqft Built 2020

INVESTimate

$362,900

List Price

$2,150

$1,935 - $2,365

Rent Est.

$388,775  ( +7.13%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $105.99
  • 6 Days on Market
  • MLS # : 3654208
  • Updated Date : 08/21/2020 at 10:09
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,424 sqft
  • Baths : 4 full
Listing Agent

Lgi Homes Nc Llc

Listing Agent's Description

AT LESS THAN $105/SQ FT, THIS HOME IS A MUST SEE!!! ONE OF THE LARGEST HOMESITE IN THE COMMUNITY! The Sycamore has 5 bedrooms, 4 bathrooms, a flex room downstairs and an expanded loft with walk-in closet upstairs!! Perfect to host family members with a Guest Suite downstairs for easy convenience. Enjoy the large kitchen with over-sized granite counter-tops, farmhouse sink, gas cook top and lots of cabinets! Sit and enjoy your coffee and conversation at the island or in the Dinette which adjoins a huge open family room! Additionally, this home includes stunning upgrades throughout the home including wood flooring, and a full suite of stainless-steel, energy star appliances. The master suite features a huge bedroom with an expansive walk-in closet & a private bath with double vanity, standing shower and separate tub. **Ask us about paid closing cost** **Union County School District ~ Porter Ridge Schools 2.8 miles from this community**

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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
Porter Ridge Elementary School Primary Regular 479 31 6
Porter Ridge Middle School Middle Regular 1,385 72 7
Porter Ridge High School High Regular 1,591 77 7

Porter Ridge Elementary School

  • Education Level: Primary
  • # of students: 479
  • # of teachers: 31
6
GreatSchools Rating

Porter Ridge Middle School

  • Education Level: Middle
  • # of students: 1,385
  • # of teachers: 72
7
GreatSchools Rating

Porter Ridge High School

  • Education Level: High
  • # of students: 1,591
  • # of teachers: 77
7
GreatSchools Rating
 

$326,610$399,190$362,900

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$1,339
Property Tax -$189
Property Insurance -$92
HOA -$42
Property Management Fees -$194
CASH FLOW
$295

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.

$362,900

PROJECTED PRICE

$2,150

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 7.13%
Maintenance Year (1-5) 3.00%
Vacancy 6.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,169

INVESTMENT

$98,169

Down Payment
$90,725
Rehab Estimate
$2,000
Closing Costs
$5,444

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,339

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $90,725
Loan Amount $272,175
See What Happens When You Reinvest Cash Flow

9.25

YEARS SAVED

$57,358

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $0.63

    LIST RENT PER SQFT
  • $2,054

    COMP ESTIMATED VALUE
  • $0.6

    COMP AVG. RENT PER SQFT
Comps Range
$1,945
1$1,9452$2,150
$2,150
RENT COMPS ANALYSIS
  • 2154 Moselle Drive Monroe, NC 2
    • 5 beds 4 baths ∙ 3,424 Sqft ∙ Built 2020 5 beds 4 baths ∙ 3,424 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.63
    •  
  • 4173 Oconnell Street Indian Trail, NC 1
    • 4 beds 3 baths ∙ 3,220 Sqft ∙ Built 2014 4 beds 3 baths ∙ 3,220 Sqft ∙ Built 2014
    property image
    LEASED 08/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.60
    •  
PROPERTY LISTING DETAILS
Michael Sceau
1.704.493.3048
Lgi Homes Nc Llc
BESbswy