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PROPERTY INFO
FACTS
- Single Family
- Built In 1999
- Price/Sqft : $149.59
- 5 Days on Market
- MLS # : 3689818
- Updated Date : 02/06/2021 at 16:16
CONSTRUCTION
- Beds : 5
- Floor Size : 2,674 sqft
- Baths : 3 full
Listing Agent
Coldwell Banker Realty
Listing Agent's Description
Welcome home to Thornblade Hills! This two story brick front has fresh paint and new flooring and is turn key! The kitchen features classic white cabinets, granite, new range/oven, dishwasher and fridge! The functional floor plan has a flex room for your office/music room/living room, dining room for entertaining and great room with a cute shiplap fireplace surround and wood mantle. Don't forget the coveted downstairs bedroom with attached full bath! Upstairs find the Owners Suite, two more bedrooms, hall bath, laundry and a bonus/bedroom with walk in closet and attic access. Head outside to find the screened deck and patio (rustic reclaimed tin ceiling!). Don't miss the pull down movie screen - perfect! Let your pets roam the fenced backyard while you hang out by the fire pit. Easy access to Squirrel Lake Park and the Four Mile Greenway along with all downtown Matthews has to offer. Tons of storage! Would appreciate all offers being submitted by 6:00 Sunday evening.
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: Matthews
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Matthews
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,940 |
| EXPENSES | Loan Payment | -$1,389 |
| Property Tax | -$324 | |
| Property Insurance | -$77 | |
| HOA | -$9 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$22
|
||
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.
$400,000
PROJECTED PRICE
$1,940
PROJECTED RENT
0.49%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.48% |
| Appreciation Year (1-5) | 5.5% |
| 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
$111,750
LOAN DETAILS
$1,389
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $100,000 |
| Loan Amount | $300,000 |
5.83
YEARS SAVED
$26,497
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,940
LIST RENT -
$0.73
LIST RENT PER SQFT
-
$2,032
COMP ESTIMATED VALUE -
$0.76
COMP AVG. RENT PER SQFT
Comps Range
-
1945 Thornblade Ridge Drive Matthews, NC 2
- 5 beds 3 baths ∙ 2,674 Sqft ∙ Built 1999 5 beds 3 baths ∙ 2,674 Sqft ∙ Built 1999
- Rent
- Rent Per SQFT
- $1,940
- $0.73
-
7409 Lamplighter Close Drive Matthews, NC 1
- 4 beds 3 baths ∙ 2,828 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,828 Sqft ∙ Built 2006
LEASED 12/07/20- Rent
- Rent Per SQFT
- $1,850
- $0.65
-
7615 Carrington Forest Lane Matthews, NC 3
- 4 beds 3 baths ∙ 2,620 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,620 Sqft ∙ Built 2007
LEASED 01/26/21- Rent
- Rent Per SQFT
- $1,945
- $0.74
-
7307 Lamplighter Close Drive Matthews, NC 4
- 5 beds 3 baths ∙ 2,755 Sqft ∙ Built 5 beds 3 baths ∙ 2,755 Sqft ∙ Built
LEASED 10/11/20- Rent
- Rent Per SQFT
- $2,095
- $0.76
-
7623 Carrington Forest Lane Matthews, NC 5
- 4 beds 3 baths ∙ 2,767 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,767 Sqft ∙ Built 2007
LEASED 08/15/20- Rent
- Rent Per SQFT
- $2,200
- $0.80
PROPERTY LISTING DETAILS
1.704.207.9207
Coldwell Banker Realty
