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618 Latimer Way 
Monroe, NC
28110
4 Beds 3 Baths 2,409 sqft
Built 2006
INVESTimate
$242,000
List Price
$69,880
REQUEST INFO
SCHEDULE APPOINTMENT
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PROPERTY INFO
FACTS
- Built In 2006
- Price/Sqft : $100.46
- 2 Days on Market
- MLS # : 3655539
- Updated Date : 08/25/2020 at 21:46
CONSTRUCTION
- Beds : 4
- Floor Size : 2,409 sqft
- Baths : 2 full , 1 half
Listing Agent
Ivester Jackson Distinctive Properties
Listing Agent's Description
Incredible open floor plan with large living area and gas log fireplace, spacious dining area, and HUGE eat in kitchen! Kitchen includes all appliances plus washer/dryer in large laundry room! 2 car garage with included storage rack! Spacious loft upstairs with included mounted TV! HUGE master suite with walk in closet, and en suite with garden tub, dual vanities, and separate shower! Neighborhood features a beautiful pool and playground! Close to executive airport, highways, dining, shops, & only 30 min to Uptown!
SEE MORE
- 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
* 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
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,530 |
| EXPENSES | Loan Payment | -$893 |
| Property Tax | -$128 | |
| Property Insurance | -$73 | |
| HOA | -$31 | |
| Property Management Fees | -$138 | |
|
CASH FLOW
$268
|
||
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.
$242,000
PROJECTED PRICE
$1,530
PROJECTED RENT
0.63%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.98% |
| Appreciation Year (1-5) | 7.13% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.57% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$69,880
LOAN DETAILS
$893
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $60,500 |
| Loan Amount | $181,500 |
10.08
YEARS SAVED
$41,867
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,530
LIST RENT -
$0.64
LIST RENT PER SQFT
-
$1,542
COMP ESTIMATED VALUE -
$0.64
COMP AVG. RENT PER SQFT
Comps Range
-
618 Latimer Way Monroe, NC 2
- 4 beds 3 baths ∙ 2,409 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,409 Sqft ∙ Built 2006
- Rent
- Rent Per SQFT
- $1,530
- $0.64
-
4323 Red Hook Road Monroe, NC 1
- 3 beds 3 baths ∙ 2,253 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,253 Sqft ∙ Built 2005
LEASED 02/18/20- Rent
- Rent Per SQFT
- $1,495
- $0.66
-
612 Latimer Way Monroe, NC 3
- 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 2006
LEASED 03/25/20- Rent
- Rent Per SQFT
- $1,550
- $0.66
-
4110 Herkimer Drive Monroe, NC 4
- 4 beds 3 baths ∙ 2,530 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,530 Sqft ∙ Built 2007
LEASED 01/17/20- Rent
- Rent Per SQFT
- $1,595
- $0.63
-
5108 Cruz Bay Drive Monroe, NC 5
- 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
PROPERTY LISTING DETAILS
1.704.999.7196
Ivester Jackson Distinctive Properties
