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PROPERTY INFO
FACTS
- Single Family
- Built In 2004
- Price/Sqft : $143.17
- 4 Days on Market
- MLS # : 3702532
- Updated Date : 01/29/2021 at 09:32
CONSTRUCTION
- Beds : 3
- Floor Size : 1,816 sqft
- Baths : 2 full , 1 half
Listing Agent
Infinity Realty
Listing Agent's Description
Escape the city and come enjoy country living at its best! Well maintained ranch on over 1 acre. Updates include new roof in 2017, new heat and air in 2014, new commercial grade luxury vinyl plank flooring in kitchen and bathrooms. Plenty of natural light with vaulted ceilings throughout the home, a great split bedroom floor plan, all with easy access to business districts and shopping areas. The home is within the Central Academy and Technology High school attendance zone. You don't want to miss this one! Enjoy the pleasant drive out to your new home!
SEE MORE
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 28112
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,460 |
| EXPENSES | Loan Payment | -$903 |
| Property Tax | -$137 | |
| Property Insurance | -$61 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$239
|
||
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.
$260,000
PROJECTED PRICE
$1,460
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
$74,650
LOAN DETAILS
$903
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $65,000 |
| Loan Amount | $195,000 |
10.17
YEARS SAVED
$38,401
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,460
LIST RENT -
$0.8
LIST RENT PER SQFT
-
$1,571
COMP ESTIMATED VALUE -
$0.87
COMP AVG. RENT PER SQFT
Comps Range
-
2708 Garden Glen Court Monroe, NC 1
- 3 beds 3 baths ∙ 1,816 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,816 Sqft ∙ Built 2004
![property image]()
- Rent
- Rent Per SQFT
- $1,460
- $0.80
-
1937 Stoney Point Circle Monroe, NC 2
- 3 beds 3 baths ∙ 1,745 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,745 Sqft ∙ Built 2016
![property image]()
LEASED 12/11/20- Rent
- Rent Per SQFT
- $1,549
- $0.89
-
2213 Carmel Oak Lane Monroe, NC 3
- 3 beds 3 baths ∙ 2,089 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,089 Sqft ∙ Built 1992
![property image]()
LEASED 06/26/20- Rent
- Rent Per SQFT
- $1,750
- $0.84
PROPERTY LISTING DETAILS
1.704.574.5020
Infinity Realty
