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PROPERTY INFO
FACTS
- Built In 2001
- Price/Sqft : $189.77
- 2 Days on Market
- MLS # : 3667197
- Updated Date : 11/02/2020 at 17:38
CONSTRUCTION
- Beds : 3
- Floor Size : 1,515 sqft
- Baths : 2 full
Listing Agent
Our State Realty Llc
Listing Agent's Description
Updated ranch home on private .92-acre lot. Notable features include: Spacious 3bd/2ba open floor-plan, new vinyl flooring, new carpet, freshly painted, new granite, new ss refrigerator, No HOA. Conveniently located to 74, I-485 and new Monroe Bypass. Just minutes to Matthews, Sun Valley, Waverly and new Rea Farms area shopping. Reasonable Uptown commute. Little or no down-payment financing options may be available.
SEE MORE
- 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
* 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 | $1,460 |
| EXPENSES | Loan Payment | -$1,061 |
| Property Tax | -$152 | |
| Property Insurance | -$56 | |
| Property Management Fees | -$131 | |
|
CASH FLOW
$60
|
||
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.
$287,500
PROJECTED PRICE
$1,460
PROJECTED RENT
0.51%
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
$81,938
LOAN DETAILS
$1,061
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $71,875 |
| Loan Amount | $215,625 |
5.58
YEARS SAVED
$21,410
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 -
$0.96
LIST RENT PER SQFT
-
$1,587
COMP ESTIMATED VALUE -
$1.05
COMP AVG. RENT PER SQFT
Comps Range
-
3900 Secrest Shortcut Road Monroe, NC 2
- 3 beds 2 baths ∙ 1,515 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,515 Sqft ∙ Built 2001
- Rent
- Rent Per SQFT
- $1,460
- $0.96
-
2608 Fowler Secrest Road Monroe, NC 1
- 3 beds 2 baths ∙ 1,317 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,317 Sqft ∙ Built 1985
LEASED 09/07/20- Rent
- Rent Per SQFT
- $1,450
- $1.10
-
2210 Willis Long Road Monroe, NC 3
- 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1995
LEASED 04/25/20- Rent
- Rent Per SQFT
- $1,506
- $1.00
-
720 Price Dairy Road Monroe, NC 4
- 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 1997
LEASED 10/10/19- Rent
- Rent Per SQFT
- $1,595
- $0.98
-
2806 Huntsman Lane Monroe, NC 5
- 4 beds 3 baths ∙ 1,851 Sqft ∙ Built 2007 4 beds 3 baths ∙ 1,851 Sqft ∙ Built 2007
LEASED 10/20/20- Rent
- Rent Per SQFT
- $2,000
- $1.08
PROPERTY LISTING DETAILS
1.704.254.6185
Our State Realty Llc
