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Monroe 28112
503 Welsh Avenue
$169,000
● House - Off Market

503 Welsh Avenue

Monroe, NC 28112
bedrooms
3 Beds
bathrooms
1 Bath
square feet
957 Ft²
$761
Est. Monthly

About This Property

Great property for an investor or a homeowner willing to do a few projects. Cabin-style house on a large lot on a quiet street. House has a large front porch, deck at second entrance, and fenced back yard.
Unit Size
957 Ft²
Days on Market
-
Land Size
0.26 acres
Price per sqft
$162
Property Type
House
Property Taxes
-
HOA Dues
-
Year Built
1977

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Cap Rate Calculator

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Cap Rate 100% Occupancy
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What does this mean?

Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.

How much can I actually make?

Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.

How is cap rate calculated?

Cap Rate = Net Operating Income (NOI) / Property Asset Value.

When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.

Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.

Last updated: 2 years ago (CANOPYMLS #CAR4215616)

Price History

Date / Event Date Event Price
Mar 10, 2025 Sold
Premium
Sold
Jan 30, 2025 In contract -
In contract
Jan 24, 2025 Listed by Select Premium Properties Inc $154,900
Listed by Select Premium Properties Inc
Jul 16, 2007 Sold
Premium
Sold
Apr 20, 2007 Sold
Premium
Sold

Property Highlights

Building Info

Overview

    General

  • Year Built: 1977
  • Effective Year Built: 1977
  • Total Rooms: 4
  • Bedroom Count: 2
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: 6
  • Building Quality: 8
  • Construction Type: 17
  • Building Style: 15
  • Exterior Walls Type: 18
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 3
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 7
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 11,238
  • Total Building Area: 957
  • Building Area: 957
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 1
  • Heating: 4
  • Heated Square Feet: 957
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: WELSH HEIGHTS
  • Land Acres: 0000000258
  • Standard Land Use Code: 1008
  • Legal Description 1: #21,#22 AND #23 BLKA WELS

Neighborhood

  • School District Name: Union County Public Schools
  • Census Tract: 020501

Zoning

  • Zoning: R-10 MONRO

Geography

  • District: 9
  • Parcel: 09-273-216
  • Block: A
  • Municipality: MONROE TWP
  • Latitude: 34.9839
  • Longitude: -80.5612

    Address

  • Full Address: 503 Welsh Ave
  • Address - House Number: 503
  • Address - Street Name: Welsh
  • Address - Suffix Type: Ave
  • State: NC
  • City Name: Monroe
  • Carrier Code: C009
  • 4-Digit Zip Code: 4555
  • Zip Code: 28112

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $100,762
  • Tax Rate Code Area: 200

    Appraisal Valuation

  • Standard Deviation: 0.1776
  • Valuation Date: Nov 15, 2023
  • Confidence Score: 77
  • Final Value: 167,272
  • High Value: 196,993
  • Low Value: 137,550

    Market Valuation

  • Market Total Value: $92,400
  • Market Land Value: $17,500
  • Market Improvement Value: $74,900

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $92,400
  • Assessed Land Value: $17,500
  • Assessed Improvements Value: $74,900

    Sales

  • Current Sale Contract Date: Jul 02, 2007
  • Current Sale Recording Date: Jul 16, 2007
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 68
  • Current Sale Input Document Number: 0031887
  • Previous Sale Recording Date: Apr 20, 2007
  • Previous Sale Contract Date: Apr 09, 2007
  • Previous Sale Amount: $59,500
  • Previous Sale Document Type: 64
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Monroe

Stats & Trends

Median Asking:

$380,000

Sale Price/ft²

$193

Below Asking

0.02%

Average Days on Market

70

Average Home Size

2329 ft²

Average Home Age

26.1 years

Currently For Sale

161 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Unit for rent at 308 E Tallyrand Avenue, Monroe, NC, 28110

$2,250 /mo

  • 3 Beds
  • 2 Baths
  • 1,614 ft²
308 E Tallyrand Avenue #LOT1, Monroe, NC, 28110 Listing by Samantha Metts
Unit for rent at 1403 Crescent Street, Monroe, NC, 28112

$2,100 /mo

  • 4 Beds
  • 2 Baths
  • 1,970 ft²
1403 Crescent Street, Monroe, NC, 28112 Listing by Carolyn Russ

Rentals Near You

Click here to view more rentals in the neighborhood.
CANOPYMLS

Listed by: Stephanie Smith, Select Premium Properties Inc
Last Updated: 2 years ago
Data Source: CANOPYMLS, MLS# CAR4215616
Details provided by CANOPYMLS as Distributed by MLS Grid and may not match the public record.
All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

Frequently Asked Questions

When was property at 503 Welsh Avenue built and last sold?
The property at 503 Welsh Avenue was built in 1977 and last sold on Jul 2, 2007 for $61,000.
How much is this home worth?
The estimated value of the home located at 503 Welsh Avenue is $0.
What are some comparable homes to 503 Welsh Avenue?
There are currently no comparable homes to 503 Welsh Avenue.
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