Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2510 Julian Street Monroe, NC 28112

5 Beds 3 Baths 2,364 sqft Built 2002

$350,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $148.05
  • 10 Days on Market
  • MLS # : 3698104
  • Updated Date : 01/23/2021 at 14:41
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,364 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Select

Listing Agent's Description

Welcome home to this quiet, peaceful and established neighborhood with wonderful neighbors! This ALL BRICK (5) FIVE BEDROOM/ 2.5 BATH, 0.8 ACRES IN CUL DE SAC. Established neighborhood within walking distance from Lake Lee and the Monroe Golf Club. Great all year view of the tree-lined wooded backyard from the living room, dining room and kitchen! Vibrant colors inspired by seller's exciting vacation to Columbia! Great opportunity ... MUST SEE!!!

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: 28112

ZipNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210kPrice in $93k213k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 28112

ZipNIR Market*CityMarket2010Year20002019 Q280085090095010001050110011501200125013001350Rent in $7651375

* 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
Rock Rest Elementary School Primary Regular 699 67 6
East Union Middle School Middle Regular 908 59 3
Forest Hills High School High Regular 937 63 2

Rock Rest Elementary School

  • Education Level: Primary
  • # of students: 699
  • # of teachers: 67
6
GreatSchools Rating

East Union Middle School

  • Education Level: Middle
  • # of students: 908
  • # of teachers: 59
3
GreatSchools Rating

Forest Hills High School

  • Education Level: High
  • # of students: 937
  • # of teachers: 63
2
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,216
Property Tax -$185
Property Insurance -$72
Property Management Fees -$119
CASH FLOW
$39

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$350,000

PROJECTED PRICE

$1,630

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) 8.00%
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$0.0$5.0k$10k$15k

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$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

5.83

YEARS SAVED

$23,168

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $1,631

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,630
1$1,6302$1,800
$1,800
RENT COMPS ANALYSIS
  • 2510 Julian Street Monroe, NC 1
    • 5 beds 3 baths ∙ 2,364 Sqft ∙ Built 2002 5 beds 3 baths ∙ 2,364 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.69
    •  
  • 1838 Roosevelt Boulevard Monroe, NC 2
    • 5 beds 4 baths ∙ 2,400 Sqft ∙ Built 2003 5 beds 4 baths ∙ 2,400 Sqft ∙ Built 2003
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.75
    •  
PROPERTY LISTING DETAILS
Kevin Gangadeen
1.618.604.8575
Keller Williams Select
BESbswy