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1001 Nickalaus Drive Matthews, NC 28104

4 Beds 3 Baths 2,735 sqft Built 1998

$435,000

List Price

$2,170

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1998
  • Price/Sqft : $159.05
  • 4 Days on Market
  • MLS # : 3679536
  • Updated Date : 11/07/2020 at 00:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,735 sqft
  • Baths : 2 full , 1 half
Listing Agent

Farms & Estates Realty Inc

Listing Agent's Description

Stately all-brick, 2-story, custom-built transitional 4 bedroom home. Long concrete driveway leads to spacious 2-car side load garage. Gorgeous 2-story foyer w/ elegant staircase & crystal chandelier. Bright kitchen-breakfast area w/ bay window open to family room. Gourmet's kitchen w/double convection oven, induction cooktop with stainless steel hood & custom tile backsplash, granite counters & high-quality raised panel & glass front cherry cabinets w/ crown molding. Gleaming HW floors located throughout entire main level. Screened in porch has high vaulted ceiling & custom tile floors w/ views of the large, level yard & gorgeous mature hardwood & evergreen trees. Double doors open to large master bedroom suite w/ tray ceiling & an elegant ensuite bath w/ his & her's sinks, private water closet, walk in closet, jacuzzi tub, large walk in shower w/ custom tile & giant rain shower. Desirable Weddington School District! Great home for entertaining, raising a family and/or keeping pets!

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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

Zip Code: 28104

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $118k349k

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

Zip Code: 28104

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8442033

* 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
Wesley Chapel Elementary School Primary Regular 550 30 7
Weddington Middle School Middle Regular 997 55 10
Weddington High School High Regular 1,342 69 9

Wesley Chapel Elementary School

  • Education Level: Primary
  • # of students: 550
  • # of teachers: 30
7
GreatSchools Rating

Weddington Middle School

  • Education Level: Middle
  • # of students: 997
  • # of teachers: 55
10
GreatSchools Rating

Weddington High School

  • Education Level: High
  • # of students: 1,342
  • # of teachers: 69
9
GreatSchools Rating
 

$391,500$478,500$435,000

PURCHASE PRICE

$1,953$2,387$2,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,170
EXPENSES Loan Payment -$1,605
Property Tax -$289
Property Insurance -$79
Property Management Fees -$195
CASH FLOW
$3

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.

$435,000

PROJECTED PRICE

$2,170

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.2%
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$1.2M

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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$121,025

INVESTMENT

$121,025

Down Payment
$108,750
Rehab Estimate
$5,750
Closing Costs
$6,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,605

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $108,750
Loan Amount $326,250
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$27,769

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,170

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,805

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7503$1,9404$1,9505$2,170
$2,170
RENT COMPS ANALYSIS
  • 1001 Nickalaus Drive Matthews, NC 5
    • 4 beds 3 baths ∙ 2,735 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,735 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $0.79
    •  
  • 3002 Semmes Lane Indian Trail, NC 1
    • 4 beds 3 baths ∙ 2,532 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,532 Sqft ∙ Built 2001
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.69
    •  
  • 604 Circle Trace Road Monroe, NC 2
    • 4 beds 3 baths ∙ 2,755 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,755 Sqft ∙ Built 2000
    LEASED 04/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.64
    •  
  • 1017 Taylor Glenn Lane Indian Trail, NC 3
    • 4 beds 3 baths ∙ 2,907 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,907 Sqft ∙ Built 2001
    LEASED 06/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.67
    •  
  • 1010 Semmes Lane Indian Trail, NC 4
    • 4 beds 3 baths ∙ 3,056 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,056 Sqft ∙ Built 2006
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.64
    •  
PROPERTY LISTING DETAILS
Roy Sansbury
1.704.843.1107
Farms & Estates Realty Inc
BESbswy