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PROPERTY INFO
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
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Windrow
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$85,250
LOAN DETAILS
$1,107
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $75,000 |
| Loan Amount | $225,000 |
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
-
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
1.704.589.0485
Coldwell Banker Realty
