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4413 Gwen Hartis Court Monroe, NC 28110

3 Beds 2 Baths 2,106 sqft Built 2007

$360,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $170.94
  • 11 Days on Market
  • MLS # : 3717578
  • Updated Date : 03/20/2021 at 16:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,106 sqft
  • Baths : 2 full
Listing Agent

Re/max Executive

Listing Agent's Description

Highly desirable full brick ranch features your dream backyard oasis. Open split bedroom plan showcases vaulted ceilings and archways. Nice kitchen has newer stainless appliances, spacious cabinets with granite countertops, breakfast bar and bay area. Large master bedroom has trey ceiling, good-sized master bath with bigger ceramic tiled walk in shower and walk in closet. The bright sunroom overlooks the amazing backyard. This great plan is completed by a perfect private bonus/flex/office/bedroom space upstairs. Make this your own forever home. Picture your family and friends enjoying and relaxing in and around your beautiful in ground gunite and pebble tec pool and the new exquisite oversized travertine decking and patio. Super convenient location just minutes to 74 and Monroe Express Way. Easy I-485 access too. Plus sought after Union County schools. Sellers are asking for all offers to be submitted by 5pm Sunday, March 21st.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Sardis Elementary School Primary Regular 592 45 8
Porter Ridge Middle School Middle Regular 1,385 72 7
Porter Ridge High School High Regular 1,591 77 7

Sardis Elementary School

  • Education Level: Primary
  • # of students: 592
  • # of teachers: 45
8
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
 

$324,000$396,000$360,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,250
Property Tax -$190
Property Insurance -$67
HOA -$46
Property Management Fees -$119
CASH FLOW
$78

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.

$360,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.49%

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

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$101,150

INVESTMENT

$101,150

Down Payment
$90,000
Rehab Estimate
$5,750
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,250

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $90,000
Loan Amount $270,000
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$26,580

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,764

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,5953$1,6954$1,7505$1,750
$1,750
RENT COMPS ANALYSIS
  • 4413 Gwen Hartis Court Monroe, NC 5
    • 3 beds 2 baths ∙ 2,106 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,106 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.83
    •  
  • 4408 Cascade Drive Indian Trail, NC 1
    • 3 beds 3 baths ∙ 1,811 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,811 Sqft ∙ Built 1998
    property image
    LEASED 11/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.88
    •  
  • 4013 Shadow Pines Circle Indian Trail, NC 2
    • 3 beds 2 baths ∙ 1,851 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,851 Sqft ∙ Built 2003
    property image
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.86
    •  
  • 4105 Hunters Trail Drive Indian Trail, NC 3
    • 4 beds 2 baths ∙ 2,168 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,168 Sqft ∙ Built 2003
    property image
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.78
    •  
  • 3412 Creek Trail Road Indian Trail, NC 4
    • 3 beds 3 baths ∙ 2,109 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,109 Sqft ∙ Built 1999
    property image
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.83
    •  
PROPERTY LISTING DETAILS
Lesa Mcgary
1.704.635.0185
Re/max Executive
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3717578
Last Updated: 03/20/2021
BESbswy