Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

5555 Monticello Drive Concord, NC 28027

4 Beds 3 Baths 2,475 sqft Built 1996

$359,900

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $145.41
  • 3 Days on Market
  • MLS # : 3705113
  • Updated Date : 02/05/2021 at 05:37
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,475 sqft
  • Baths : 2 full , 1 half
Listing Agent

Locus Real Estate Advisors Inc

Listing Agent's Description

Beautifully maintained 2 story 4BR/2.5 BA in highly sought after THE WOODLANDS!! Large Master Down w/recently renovated Master Bath that includes: Walk in closet, dual vanities, custom tiled huge walk in shower! You will love the newly renovated kitchen with granite counter tops and ALL new appliances in 2020! The breakfast bar and breakfast room ensures space for everyone. Beautiful formal LR and DR with hardwoods throughout the downstairs living area including the dramatic 2 story Great Room with Gas Fireplace. Large Custom Built deck overlooks spacious creek front back yard. Updated light fixtures throughout the home. Upstairs you will find a multi-functional loft area, 3 large bedrooms and a newly renovated full bath! Other features include: Ultra-violet Antibacterial System installed on upper HVAC in 2020, Newer Insulated Garage Door and Opener with MyQ technology, Interactive Wi-Fi thermostat. Neighborhood pool and tennis courts! MUST SEE!

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

Neighborhood: Woodlands

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $118k364k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Woodlands

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8402030

* 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
Carl A. Furr Elementary School Primary Regular 745 49 6
Harold Winkler Middle School Middle Regular 978 60 6
Jay M Robinson High School High Regular 1,339 86 3

Carl A. Furr Elementary School

  • Education Level: Primary
  • # of students: 745
  • # of teachers: 49
6
GreatSchools Rating

Harold Winkler Middle School

  • Education Level: Middle
  • # of students: 978
  • # of teachers: 60
6
GreatSchools Rating

Jay M Robinson High School

  • Education Level: High
  • # of students: 1,339
  • # of teachers: 86
3
GreatSchools Rating
 

$323,910$395,890$359,900

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,250
Property Tax -$416
Property Insurance -$74
HOA -$35
Property Management Fees -$119
CASH FLOW
-$35

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$359,900

PROJECTED PRICE

$1,860

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
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$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$101,124

INVESTMENT

$101,124

Down Payment
$89,975
Rehab Estimate
$5,750
Closing Costs
$5,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% 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 $89,975
Loan Amount $269,925
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$17,549

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,900

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,615
1$1,6152$1,7503$1,8504$1,8505$1,860
$1,860
RENT COMPS ANALYSIS
  • 5555 Monticello Drive Concord, NC 5
    • 4 beds 3 baths ∙ 2,475 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,475 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.75
    •  
  • 2978 Clover Road Concord, NC 1
    • 4 beds 3 baths ∙ 2,256 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,256 Sqft ∙ Built 2006
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,615
    • $0.72
    •  
  • 427 Whitewater Way Concord, NC 2
    • 4 beds 3 baths ∙ 2,302 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,302 Sqft ∙ Built 2009
    LEASED 01/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.76
    •  
  • 1301 Pennington Place Concord, NC 3
    • 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 1998
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.84
    •  
  • 1412 Whitman Drive Nw Concord, NC 4
    • 4 beds 3 baths ∙ 2,477 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,477 Sqft ∙ Built 1998
    LEASED 01/28/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.75
    •  
PROPERTY LISTING DETAILS
Tiffany Carr
1.704.787.1647
Locus Real Estate Advisors Inc
BESbswy