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2010 Blue Pond Road # Lot 35 Matthews, NC 28105

4 Beds 3 Baths 2,486 sqft Built 2020

INVESTimate

$377,000

List Price

$2,050

$1,845 - $2,255

Rent Est.

$396,378  ( +5.14%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $151.65
  • 7 Days on Market
  • MLS # : 3653790
  • Updated Date : 08/20/2020 at 12:58
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,486 sqft
  • Baths : 3 full
Listing Agent

Eastwood Homes

Listing Agent's Description

Ask about move-in specials on this beautiful Cypress plan! This home features 4 bedrooms, 3 full baths, and a beautiful 2-story foyer. The main floor includes an extended breakfast area, a study with French doors, and a convenient guest suite. The kitchen has white cabinets and a striking admiral navy blue island, quartz counters, an ice white tile backsplash, and stainless appliances, including a gas range. Other awesome upgrades include a tiled, walk-in shower in the master bath and guest suite bath, a gas fireplace with slate surround, and Enhanced Vinyl Plank flooring. Ask about the Smart Home features INCLUDED in this home! Find out more today!

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: Providence Estates East

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $118k342k

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

Neighborhood: Providence Estates East

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8441924

* 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
Matthews Elementary School Primary Regular 1,006 51 7
Crestdale Middle School Middle Regular 868 44 7
Butler High School High Regular 2,081 106 7

Matthews Elementary School

  • Education Level: Primary
  • # of students: 1,006
  • # of teachers: 51
7
GreatSchools Rating

Crestdale Middle School

  • Education Level: Middle
  • # of students: 868
  • # of teachers: 44
7
GreatSchools Rating

Butler High School

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

$339,300$414,700$377,000

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,391
Property Tax -$305
Property Insurance -$74
HOA -$70
Property Management Fees -$185
CASH FLOW
$26

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$377,000

PROJECTED PRICE

$2,050

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.14%
Maintenance Year (1-5) 3.00%
Vacancy 6.31%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,905

INVESTMENT

$101,905

Down Payment
$94,250
Rehab Estimate
$2,000
Closing Costs
$5,655

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,391

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $94,250
Loan Amount $282,750
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$24,110

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,039

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,875
1$1,8752$1,9003$1,9954$2,0505$2,100
$2,100
RENT COMPS ANALYSIS
  • 2010 Blue Pond Road Matthews, NC 4
    • 4 beds 3 baths ∙ 2,486 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,486 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.82
    •  
  • 2219 Big Pine Drive Matthews, NC 1
    • 3 beds 3 baths ∙ 2,348 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,348 Sqft ∙ Built 2003
    property image
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.80
    •  
  • 2212 Big Pine Drive Matthews, NC 2
    • 4 beds 3 baths ∙ 2,503 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,503 Sqft ∙ Built 2004
    property image
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.76
    •  
  • 6020 Hampstead Pond Lane Matthews, NC 3
    • 4 beds 4 baths ∙ 2,303 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,303 Sqft ∙ Built 2020
    property image
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.87
    •  
  • 2315 Winthorp Ridge Road Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,306 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,306 Sqft ∙ Built 1999
    property image
    LEASED 09/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.91
    •  
PROPERTY LISTING DETAILS
Michael Conley
1.704.907.0699
Eastwood Homes
BESbswy