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12445 Woodbend Drive #49 Matthews, NC 28105

4 Beds 3 Baths 2,552 sqft Built 1993

$334,999

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $131.27
  • 11 Days on Market
  • MLS # : 3705168
  • Updated Date : 02/13/2021 at 00:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,552 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams South Park

Listing Agent's Description

Well maintained property with tons of natural light in peaceful Southwoods community. Move in Ready, fresh paint, Wood flooring throughout the house, New 2021 blinds, Huge Drive way and almost half an acre lot with very low HOA fees($105/annually). It is close to shopping centers, Costco plaza, restaurants, clinics and just about 20 minutes to uptown. Come and see it yourself! You will feel like you're home.

SEE MORE

MARKET HIGHLIGHTS

  • 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

Neighborhood: Southwoods

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Neighborhood: Southwoods

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441809

* 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
Crown Point Elementary School Primary Regular 743 40 5
Mint Hill Middle School Middle Regular 1,249 64 5
Butler High School High Regular 2,081 106 7

Crown Point Elementary School

  • Education Level: Primary
  • # of students: 743
  • # of teachers: 40
5
GreatSchools Rating

Mint Hill Middle School

  • Education Level: Middle
  • # of students: 1,249
  • # of teachers: 64
5
GreatSchools Rating

Butler High School

  • Education Level: High
  • # of students: 2,081
  • # of teachers: 106
7
GreatSchools Rating
 

$301,499$368,499$334,999

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$1,164
Property Tax -$284
Property Insurance -$75
HOA -$9
Property Management Fees -$119
CASH FLOW
$240

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.

$334,999

PROJECTED PRICE

$1,890

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,164

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,750
Loan Amount $251,249
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$43,677

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,003

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8453$1,8854$1,8905$2,245
$2,245
RENT COMPS ANALYSIS
  • 12445 Woodbend Drive Matthews, NC 4
    • 4 beds 3 baths ∙ 2,552 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,552 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.74
    •  
  • 3003 Pinewood Hill Drive Matthews, NC 1
    • 4 beds 3 baths ∙ 2,481 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,481 Sqft ∙ Built 1995
    property image
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.73
    •  
  • 3035 Pinewood Hill Drive Matthews, NC 2
    • 4 beds 3 baths ∙ 2,268 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,268 Sqft ∙ Built 1995
    property image
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.81
    •  
  • 1901 Tanfield Drive Matthews, NC 3
    • 4 beds 3 baths ∙ 2,443 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,443 Sqft ∙ Built 1990
    property image
    LEASED 01/28/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,885
    • $0.77
    •  
  • 2724 Phillips Woods Lane Matthews, NC 5
    • 4 beds 3 baths ∙ 2,706 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,706 Sqft ∙ Built 2006
    property image
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,245
    • $0.83
    •  
PROPERTY LISTING DETAILS
Kesete Adonay
1.704.779.5124
Keller Williams South Park
BESbswy