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PROPERTY INFO
FACTS
- Single Family
- Built In 1968
- Price/Sqft : $165.03
- 5 Days on Market
- MLS # : 3709601
- Updated Date : 02/21/2021 at 00:05
CONSTRUCTION
- Beds : 3
- Floor Size : 1,630 sqft
- Baths : 1 full
Listing Agent
Century 21 Providence
Listing Agent's Description
LOCATION LOCATION LOCATION!!!! Prime location, just minutes to Downtown Matthews for great shopping and dining, and close access to I-485 and HWY 74. This home sits on a 1 acre lot in the Brookfield neighborhood with NO HOA! Home has a huge family room off the kitchen and a living room too. Hardwoods throughout living room, hallway, and two bedrooms. Sunroom is a nice size with windows all around. Basement can be accessed outside down by the full patio. Enjoy nice evenings on the patio or front porch over looking your yard. Make this your home so you can relax in this quiet and peaceful neighborhood with convenience.
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
Neighborhood: Stallings
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Stallings
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,410 |
| EXPENSES | Loan Payment | -$934 |
| Property Tax | -$178 | |
| Property Insurance | -$58 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$120
|
||
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.
$269,000
PROJECTED PRICE
$1,410
PROJECTED RENT
0.52%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.48% |
| Appreciation Year (1-5) | 7.0% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.31% |
| 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
$77,035
LOAN DETAILS
$934
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $67,250 |
| Loan Amount | $201,750 |
8.17
YEARS SAVED
$28,640
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,410
LIST RENT -
$0.87
LIST RENT PER SQFT
-
$1,536
COMP ESTIMATED VALUE -
$0.94
COMP AVG. RENT PER SQFT
Comps Range
-
1015 Vickie Lane Matthews, NC 2
- 3 beds 1 baths ∙ 1,630 Sqft ∙ Built 1968 3 beds 1 baths ∙ 1,630 Sqft ∙ Built 1968
- Rent
- Rent Per SQFT
- $1,410
- $0.87
-
1216 Stallings Road Matthews, NC 1
- 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1970
LEASED 07/09/20- Rent
- Rent Per SQFT
- $1,395
- $0.93
-
1911 Marglyn Drive Matthews, NC 3
- 4 beds 3 baths ∙ 1,844 Sqft ∙ Built 2007 4 beds 3 baths ∙ 1,844 Sqft ∙ Built 2007
LEASED 09/17/19- Rent
- Rent Per SQFT
- $1,750
- $0.95
-
9002 Brad Court Matthews, NC 4
- 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 1998
LEASED 11/05/19- Rent
- Rent Per SQFT
- $1,750
- $0.97
-
1311 Privett Park Place Matthews, NC 5
- 3 beds 3 baths ∙ 1,952 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,952 Sqft ∙ Built 2018
LEASED 05/01/20- Rent
- Rent Per SQFT
- $1,765
- $0.90
PROPERTY LISTING DETAILS
1.704.361.1553
Century 21 Providence
MLS #: 3709601
Last Updated: 02/21/2021
