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4503 Gwen Hartis Court Monroe, NC 28110

4 Beds 3 Baths 1,833 sqft Built 2013

$289,900

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $158.16
  • 20 Days on Market
  • MLS # : 3675418
  • Updated Date : 11/13/2020 at 00:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,833 sqft
  • Baths : 3 full
Listing Agent

Mg Real Estate Group

Listing Agent's Description

Must see 4 bedroom, 3 bathroom home in Crooked Creek Estates! Super convenient to shopping and restaurants. Fresh paint and carpet throughout. Bonus/4th bedroom upstairs with full bath! Hardwoods in family room. Screened in porch perfect for the cooler weather on its way! Large, flat backyard. Your buyer's won't be disappointed!

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
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
 

$260,910$318,890$289,900

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$1,070
Property Tax -$153
Property Insurance -$62
Property Management Fees -$149
CASH FLOW
$226

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.

$289,900

PROJECTED PRICE

$1,660

PROJECTED RENT

0.57%

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$39,733

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,618

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5953$1,5954$1,6605$1,675
$1,675
RENT COMPS ANALYSIS
  • 4503 Gwen Hartis Court Monroe, NC 4
    • 4 beds 3 baths ∙ 1,833 Sqft ∙ Built 2013 4 beds 3 baths ∙ 1,833 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.91
    •  
  • 1002 Hannah Place Monroe, NC 1
    • 4 beds 3 baths ∙ 1,650 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,650 Sqft ∙ Built 2006
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.88
    •  
  • 4008 Edgeview Drive Indian Trail, NC 2
    • 3 beds 2 baths ∙ 1,815 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,815 Sqft ∙ Built 2001
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.88
    •  
  • 4013 Shadow Pines Circle Indian Trail, NC 3
    • 3 beds 2 baths ∙ 1,851 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,851 Sqft ∙ Built 2003
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.86
    •  
  • 6402 Scott Long Road Indian Trail, NC 5
    • 3 beds 2 baths ∙ 1,837 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,837 Sqft ∙ Built 1995
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.91
    •  
PROPERTY LISTING DETAILS
Mike Modia
1.704.606.9460
Mg Real Estate Group
BESbswy