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2708 Garden Glen Court Monroe, NC 28112

3 Beds 3 Baths 1,816 sqft Built 2004

$260,000

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
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!

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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: 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
Walter Bickett Elementary School Primary Regular 694 64 1
Monroe Middle School Middle Regular 1,068 68 3
Monroe High School High Regular 1,009 70 1

Walter Bickett Elementary School

  • Education Level: Primary
  • # of students: 694
  • # of teachers: 64
1
GreatSchools Rating

Monroe Middle School

  • Education Level: Middle
  • # of students: 1,068
  • # of teachers: 68
3
GreatSchools Rating

Monroe High School

  • Education Level: High
  • # of students: 1,009
  • # of teachers: 70
1
GreatSchools Rating
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

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

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

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
$1,460
1$1,4602$1,5493$1,750
$1,750
RENT COMPS ANALYSIS
  • 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
Lambros Balatsias
1.704.574.5020
Infinity Realty
BESbswy