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PROPERTY INFO
FACTS
- Single Family
- Built In 1979
- Price/Sqft : $188.98
- MLS # : CAR3761538
- Updated Date : 07/12/2021 at 23:24
CONSTRUCTION
- Beds : 3
- Floor Size : 1,270 sqft
- Baths : 2 full
Listing Agent
Prostead Realty
Listing Agent's Description
Cute home in a great location! Open floor plan featuring 3 bedrooms & 2 Baths. Large family room with dining area and open kitchen. Spacious backyard and front porch space. This home is close to shops & dining with convenient access.
SEE MORE
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 28110
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,340 |
| EXPENSES | Loan Payment | -$834 |
| Property Tax | -$127 | |
| Property Insurance | -$51 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$210
|
||
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.
$240,000
PROJECTED PRICE
$1,340
PROJECTED RENT
0.56%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$69,350
LOAN DETAILS
$834
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $60,000 |
| Loan Amount | $180,000 |
9.83
YEARS SAVED
$34,165
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,340
LIST RENT -
$1.06
LIST RENT PER SQFT
-
$1,340
COMP ESTIMATED VALUE -
$1.06
COMP AVG. RENT PER SQFT
Comps Range
-
2519 Kempsar Lane Monroe, NC 1
- 3 beds 2 baths ∙ 1,270 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,270 Sqft ∙ Built 1979
![property image]()
- Rent
- Rent Per SQFT
- $1,340
- $1.06
-
1612 Winthrop Lane Monroe, NC 2
- 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 1999
![property image]()
LEASED 06/22/20- Rent
- Rent Per SQFT
- $1,375
- $1.03
-
2538 Carroll Street Monroe, NC 3
- 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1962
![property image]()
LEASED 07/14/20- Rent
- Rent Per SQFT
- $1,395
- $1.06
-
2608 Fowler Secrest Road Monroe, NC 4
- 3 beds 2 baths ∙ 1,317 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,317 Sqft ∙ Built 1985
![property image]()
LEASED 09/07/20- Rent
- Rent Per SQFT
- $1,450
- $1.10
-
2210 Willis Long Road Monroe, NC 5
- 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1995
![property image]()
LEASED 04/25/20- Rent
- Rent Per SQFT
- $1,506
- $1.00
PROPERTY LISTING DETAILS
1.704.290.4614
Prostead Realty
