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5127 Cruz Bay Drive Monroe, NC 28110

4 Beds 3 Baths 2,917 sqft Built 2007

$278,000

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $95.30
  • 5 Days on Market
  • MLS # : 3680649
  • Updated Date : 11/14/2020 at 17:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,917 sqft
  • Baths : 2 full , 1 half
Listing Agent

Cottingham Chalk

Listing Agent's Description

Wonderful culdesac home! Come and enjoy the privacy of your backyard in one of the larger lots in the neighborhood. The seller just installed a full privacy fence and 24x18 paver patio. A new architectural shingle roof Was just installed. The spacious kitchen has a large island with granite counters, stainless appliances, gas cooktop, and a wall oven. The Master bath has double bowl sinks, a garden tub, and a separate shower with a walk-in closet. MULTIPLE OFFERS PLEASE SEND ALL OFFERS BY 5PM 11/15.

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
Rocky River Elementary School Primary Regular 844 58 6
Sun Valley Middle School Middle Regular 1,365 69 6
Sun Valley High School High Regular 1,306 76 7

Rocky River Elementary School

  • Education Level: Primary
  • # of students: 844
  • # of teachers: 58
6
GreatSchools Rating

Sun Valley Middle School

  • Education Level: Middle
  • # of students: 1,365
  • # of teachers: 69
6
GreatSchools Rating

Sun Valley High School

  • Education Level: High
  • # of students: 1,306
  • # of teachers: 76
7
GreatSchools Rating
 

$250,200$305,800$278,000

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$1,026
Property Tax -$147
Property Insurance -$82
HOA -$33
Property Management Fees -$142
CASH FLOW
$150

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.

$278,000

PROJECTED PRICE

$1,580

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,420

INVESTMENT

$79,420

Down Payment
$69,500
Rehab Estimate
$5,750
Closing Costs
$4,170

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,026

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,500
Loan Amount $208,500
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$28,995

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.54

    LIST RENT PER SQFT
  • $1,706

    COMP ESTIMATED VALUE
  • $0.59

    COMP AVG. RENT PER SQFT
Comps Range
$1,580
1$1,5802$1,5953$1,6254$1,7005$1,705
$1,705
RENT COMPS ANALYSIS
  • 5127 Cruz Bay Drive Monroe, NC 1
    • 4 beds 3 baths ∙ 2,917 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,917 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.54
    •  
  • 5108 Cruz Bay Drive Monroe, NC 2
    • 3 beds 3 baths ∙ 2,595 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,595 Sqft ∙ Built 2007
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.61
    •  
  • 4722 Manchineel Lane Monroe, NC 3
    • 4 beds 3 baths ∙ 2,888 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,888 Sqft ∙ Built 2015
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.56
    •  
  • 404 Annaberg Lane Monroe, NC 4
    • 5 beds 4 baths ∙ 2,956 Sqft ∙ Built 2005 5 beds 4 baths ∙ 2,956 Sqft ∙ Built 2005
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.58
    •  
  • 4607 Maho Lane Monroe, NC 5
    • 4 beds 3 baths ∙ 2,908 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,908 Sqft ∙ Built 2003
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,705
    • $0.59
    •  
PROPERTY LISTING DETAILS
Kelly Ensminger
1.704.364.1700
Cottingham Chalk
BESbswy