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3613 Allenby Place Monroe, NC 28110

5 Beds 3 Baths 2,343 sqft Built 2021

$336,900

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
February 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $143.79
  • 7 Days on Market
  • MLS # : 3704183
  • Updated Date : 02/03/2021 at 09:41
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,343 sqft
  • Baths : 3 full
Listing Agent

Lgi Homes Nc Llc

Listing Agent's Description

A gourmet kitchen features modern white cabinets, granite counters, a large island with breakfast bar and a complete suite of stainless-steel appliances. A downstairs bedroom provides the perfect space for a guest room or can be used as an office! All four bedrooms on the upstairs level boast a walk-in closet! The master suite, complete with vaulted ceiling and private bath, is the perfect place for homeowners to retreat to for some relaxation. **The Home Photo's are samples some features/finishes may differ** **Ask us about paid closing cost** **Union County School District ~ Porter Ridge Schools 2.8 miles from this community**

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Porter Ridge Middle School Middle Regular 1,385 72 7
Porter Ridge High School High Regular 1,591 77 7

Porter Ridge Elementary School

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

Porter Ridge Middle School

  • Education Level: Middle
  • # of students: 1,385
  • # of teachers: 72
7
GreatSchools Rating

Porter Ridge High School

  • Education Level: High
  • # of students: 1,591
  • # of teachers: 77
7
GreatSchools Rating
 

$303,210$370,590$336,900

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$1,170
Property Tax -$175
Property Insurance -$71
HOA -$42
Property Management Fees -$119
CASH FLOW
$153

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$336,900

PROJECTED PRICE

$1,730

PROJECTED RENT

0.51%

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) 3.00%
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$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,279

INVESTMENT

$91,279

Down Payment
$84,225
Rehab Estimate
$2,000
Closing Costs
$5,054

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,170

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $84,225
Loan Amount $252,675
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$34,731

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,703

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,7303$1,8654$1,945
$1,945
RENT COMPS ANALYSIS
  • 3613 Allenby Place Monroe, NC 2
    • 5 beds 3 baths ∙ 2,343 Sqft ∙ Built 2021 5 beds 3 baths ∙ 2,343 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.74
    •  
  • 3214 Chippendale Road Monroe, NC 1
    • 4 beds 3 baths ∙ 1,995 Sqft ∙ Built 2014 4 beds 3 baths ∙ 1,995 Sqft ∙ Built 2014
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.80
    •  
  • 7006 Farm Pond Road Indian Trail, NC 3
    • 5 beds 3 baths ∙ 2,621 Sqft ∙ Built 2010 5 beds 3 baths ∙ 2,621 Sqft ∙ Built 2010
    property image
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,865
    • $0.71
    •  
  • 4126 Waxwood Drive Monroe, NC 4
    • 5 beds 3 baths ∙ 2,650 Sqft ∙ Built 2007 5 beds 3 baths ∙ 2,650 Sqft ∙ Built 2007
    property image
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.73
    •  
PROPERTY LISTING DETAILS
Willie Caldwell
1.704.751.0070
Lgi Homes Nc Llc
BESbswy