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2172 Moselle Drive Monroe, NC 28110

5 Beds 3 Baths 2,784 sqft Built 2020

$345,900

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
October 28, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $124.25
  • 7 Days on Market
  • MLS # : 3677224
  • Updated Date : 10/28/2020 at 14:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,784 sqft
  • Baths : 2 full , 1 half
Listing Agent

Lgi Homes Nc Llc

Listing Agent's Description

The huge kitchen with cabinets spanning from wall to wall overlooks the open family room and dining room. The kitchen features a huge island with breakfast bar and granite countertops. Downstairs you will also find an elegant formal dining room. The master bedroom with private bath, four large secondary bedrooms and an additional spare bath are all located upstairs. **The Home Photo's are samples some features/finishes may differ** **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

  • 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
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
 

$311,310$380,490$345,900

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,276
Property Tax -$180
Property Insurance -$80
HOA -$42
Property Management Fees -$161
CASH FLOW
$51

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.

$345,900

PROJECTED PRICE

$1,790

PROJECTED RENT

0.52%

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-$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$93,664

INVESTMENT

$93,664

Down Payment
$86,475
Rehab Estimate
$2,000
Closing Costs
$5,189

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,276

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $86,475
Loan Amount $259,425
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$22,961

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.64

    LIST RENT PER SQFT
  • $1,810

    COMP ESTIMATED VALUE
  • $0.65

    COMP AVG. RENT PER SQFT
Comps Range
$1,790
1$1,7902$1,865
$1,865
RENT COMPS ANALYSIS
  • 2172 Moselle Drive Monroe, NC 1
    • 5 beds 3 baths ∙ 2,784 Sqft ∙ Built 2020 5 beds 3 baths ∙ 2,784 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.64
    •  
  • 7006 Farm Pond Road Indian Trail, NC 2
    • 5 beds 3 baths ∙ 2,621 Sqft ∙ Built 2010 5 beds 3 baths ∙ 2,621 Sqft ∙ Built 2010
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,865
    • $0.71
    •  
PROPERTY LISTING DETAILS
Willie Caldwell
1.704.751.0070
Lgi Homes Nc Llc
BESbswy