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2001 Light Brigade Drive #L3 BU Matthews, NC 28105

3 Beds 3 Baths 1,831 sqft Built 1983

$300,000

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $163.84
  • 2 Days on Market
  • MLS # : 3693218
  • Updated Date : 12/26/2020 at 21:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,831 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

No Carpet! No HOA! This home feels like it's in the country, but it is only minutes to I-485. Which do you think you would enjoy more sipping something on the wrap-around porch or oversized deck? They both overlook the large beautifully landscaped lot. The backyard is private, so you see nothing except the great outdoors. Go inside, and there is a cook's kitchen with tons of cabinets, granite countertops, and pull out drawers. Remember when it is time to entertain that there are 2 ovens and a pull-out island.

SEE MORE

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

Neighborhood: Windrow

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $106k318k

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

Neighborhood: Windrow

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
Bain Elementary School Primary Regular 899 49 10
Mint Hill Middle School Middle Regular 1,249 64 5
Butler High School High Regular 2,081 106 7

Bain Elementary School

  • Education Level: Primary
  • # of students: 899
  • # of teachers: 49
10
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
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$1,107
Property Tax -$241
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
$141

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.

$300,000

PROJECTED PRICE

$1,670

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 8.6%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$38,143

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,689

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,670
1$1,6702$1,7003$1,7954$1,8005$1,850
$1,850
RENT COMPS ANALYSIS
  • 2001 Light Brigade Drive Matthews, NC 1
    • 3 beds 3 baths ∙ 1,831 Sqft ∙ Built 1983 3 beds 3 baths ∙ 1,831 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.91
    •  
  • 2308 Heathershire Lane Matthews, NC 2
    • 3 beds 3 baths ∙ 1,934 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,934 Sqft ∙ Built 1988
    LEASED 11/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.88
    •  
  • 13701 Strathaven Drive Matthews, NC 3
    • 4 beds 3 baths ∙ 1,978 Sqft ∙ Built 1987 4 beds 3 baths ∙ 1,978 Sqft ∙ Built 1987
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.91
    •  
  • 13634 Tynecastle Lane Matthews, NC 4
    • 3 beds 3 baths ∙ 1,876 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,876 Sqft ∙ Built 1987
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.96
    •  
  • 14400 Buckton Lane Matthews, NC 5
    • 4 beds 3 baths ∙ 1,965 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,965 Sqft ∙ Built 1988
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.94
    •  
PROPERTY LISTING DETAILS
Cynthia Crisp
1.704.589.0485
Coldwell Banker Realty
BESbswy