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3341 Katherine Taylor Court Monroe, NC 28110

4 Beds 3 Baths 2,455 sqft Built 2018

$300,000

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $122.20
  • 4 Days on Market
  • MLS # : 3693485
  • Updated Date : 12/31/2020 at 00:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,455 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Ballantyne Area

Listing Agent's Description

This Move in ready and very well maintain Charleston charmer is a must see. Enter through your covered front porch into an open floor plan. This home has a large living room/office, family room, dining & kitchen on main level. Details like the archways, wainscoting, trim work and high ceilings make this home extra special. The kitchen includes a large sitting bar, 42" cabinets, granite, tile backsplash and stainless steel appliances with gas range. Perfect for entertaining with kitchen open to family room and dining room area. Vinyl plank on the main floor. The owner's suite has a tray ceiling, large walk-in closet and an owner's bathroom with an extra large shower. Luxurious bathroom has upgraded lighting, granite dual sinks and extra counter and cabinet space. Two spacious guest room are upstairs as well as the laundry and a huge room that can be used as a game room or fourth bedroom. Rear load garage. Community has pool, sidewalks and street lights - Great schools ad great location

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: 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
Piedmont Middle School Middle Regular 1,097 55 7
Piedmont High School High Regular 1,244 65 8

Porter Ridge Elementary School

  • Education Level: Primary
  • # of students: 479
  • # of teachers: 31
6
GreatSchools Rating

Piedmont Middle School

  • Education Level: Middle
  • # of students: 1,097
  • # of teachers: 55
7
GreatSchools Rating

Piedmont High School

  • Education Level: High
  • # of students: 1,244
  • # of teachers: 65
8
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$1,107
Property Tax -$156
Property Insurance -$73
HOA -$55
Property Management Fees -$119
CASH FLOW
$320

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.

$300,000

PROJECTED PRICE

$1,830

PROJECTED RENT

0.61%

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$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

10.67

YEARS SAVED

$56,282

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,835

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,7253$1,8304$1,8455$1,845
$1,845
RENT COMPS ANALYSIS
  • 3341 Katherine Taylor Court Monroe, NC 3
    • 4 beds 3 baths ∙ 2,455 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,455 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $0.75
    •  
  • 2811 Santiago Circle Monroe, NC 1
    • 4 beds 2 baths ∙ 2,167 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,167 Sqft ∙ Built 2017
    property image
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.74
    •  
  • 4102 Waxwood Drive Monroe, NC 2
    • 4 beds 3 baths ∙ 2,264 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,264 Sqft ∙ Built 2007
    property image
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.76
    •  
  • 3329 Christopher Jacob Court Monroe, NC 4
    • 4 beds 3 baths ∙ 2,462 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,462 Sqft ∙ Built 2016
    property image
    LEASED 12/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.75
    •  
  • 3328 Christopher Jacob Court Monroe, NC 5
    • 4 beds 3 baths ∙ 2,480 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,480 Sqft ∙ Built 2017
    property image
    LEASED 01/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.74
    •  
PROPERTY LISTING DETAILS
Janice Maynard
1.704.641.0626
Keller Williams Ballantyne Area
BESbswy