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PROPERTY INFO
FACTS
- Single Family
- Built In 1996
- Price/Sqft : $192.23
- 2 Days on Market
- MLS # : 3710593
- Updated Date : 02/20/2021 at 08:55
CONSTRUCTION
- Beds : 3
- Floor Size : 1,222 sqft
- Baths : 2 full
Listing Agent
3w Properties Llc
Listing Agent's Description
Great, 3 bedrooms 2 bath home in Union county! Roof in excellent shape and needs some paint and flooring. Large lot, Vacant and ready for updating!
SEE MORE
- 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
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
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,360 |
| EXPENSES | Loan Payment | -$816 |
| Property Tax | -$124 | |
| Property Insurance | -$50 | |
| HOA | -$157 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$94
|
||
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.
$234,900
PROJECTED PRICE
$1,360
PROJECTED RENT
0.58%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$67,999
LOAN DETAILS
$816
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $58,725 |
| Loan Amount | $176,175 |
7
YEARS SAVED
$19,354
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,360
LIST RENT -
$1.11
LIST RENT PER SQFT
-
$1,356
COMP ESTIMATED VALUE -
$1.11
COMP AVG. RENT PER SQFT
Comps Range
-
904 Buttermilk Lane Monroe, NC 4
- 3 beds 2 baths ∙ 1,222 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,222 Sqft ∙ Built 1996
- Rent
- Rent Per SQFT
- $1,360
- $1.11
-
2928 Dairy Farm Drive Monroe, NC 1
- 3 beds 2 baths ∙ 1,149 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,149 Sqft ∙ Built 1997
LEASED 06/11/20- Rent
- Rent Per SQFT
- $1,195
- $1.04
-
905 Milkfarm Court Monroe, NC 2
- 3 beds 2 baths ∙ 1,125 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,125 Sqft ∙ Built 1996
LEASED 04/06/20- Rent
- Rent Per SQFT
- $1,300
- $1.16
-
3024 Dairy Farm Drive Monroe, NC 3
- 3 beds 2 baths ∙ 1,124 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,124 Sqft ∙ Built 1996
LEASED 08/13/20- Rent
- Rent Per SQFT
- $1,300
- $1.16
-
924 Milkwood Lane Monroe, NC 5
- 3 beds 2 baths ∙ 1,292 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,292 Sqft ∙ Built 1998
LEASED 06/03/20- Rent
- Rent Per SQFT
- $1,400
- $1.08
PROPERTY LISTING DETAILS
1.704.400.0344
3w Properties Llc
MLS #: 3710593
Last Updated: 02/20/2021
