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2026 Blue Pond Road # Lot 39 Matthews, NC 28105

5 Beds 4 Baths 2,836 sqft Built 2020

INVESTimate

$410,000

List Price

$2,210

$1,989 - $2,431

Rent Est.

$431,074  ( +5.14%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $144.57
  • 7 Days on Market
  • MLS # : 3653792
  • Updated Date : 08/20/2020 at 12:58
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,836 sqft
  • Baths : 4 full
Listing Agent

Eastwood Homes

Listing Agent's Description

Ask about move-in specials on this beautiful Cypress plan! This 3-story home features 5 bedrooms, 4 full baths, and more than 2,800 square feet. Everyone has a choice of space with a guest suite on the main, the master and two secondary bedrooms on the upper, and a huge bedroom on the third. The kitchen has white cabinets, granite counters, a ceramic tile backsplash in a herringbone pattern, and stainless appliances, including a gas cooktop. Other awesome upgrades include a rear covered porch, luxury master bath, tray ceilings in the dining room & master bedroom, oak tread stairs, and a gas fireplace with slate surround. 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
 

$369,000$451,000$410,000

PURCHASE PRICE

$1,989$2,431$2,210

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,210
EXPENSES Loan Payment -$1,513
Property Tax -$332
Property Insurance -$81
HOA -$70
Property Management Fees -$199
CASH FLOW
$16

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.

$410,000

PROJECTED PRICE

$2,210

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$110,650

INVESTMENT

$110,650

Down Payment
$102,500
Rehab Estimate
$2,000
Closing Costs
$6,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,513

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $102,500
Loan Amount $307,500
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$25,250

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,210

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,141

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9503$2,1504$2,2005$2,210
$2,210
RENT COMPS ANALYSIS
  • 2026 Blue Pond Road Matthews, NC 5
    • 5 beds 4 baths ∙ 2,836 Sqft ∙ Built 2020 5 beds 4 baths ∙ 2,836 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,210
    • $0.78
    •  
  • 1642 Candlewood Ridge Lane Matthews, NC 1
    • 4 beds 3 baths ∙ 2,741 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,741 Sqft ∙ Built 2006
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.69
    •  
  • 1008 Feather Oak Lane Matthews, NC 2
    • 4 beds 3 baths ∙ 2,820 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,820 Sqft ∙ Built 2004
    LEASED 10/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.69
    •  
  • 906 Putney Court Matthews, NC 3
    • 5 beds 3 baths ∙ 2,791 Sqft ∙ Built 2012 5 beds 3 baths ∙ 2,791 Sqft ∙ Built 2012
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.77
    •  
  • 7623 Carrington Forest Lane Matthews, NC 4
    • 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
Michael Conley
1.704.907.0699
Eastwood Homes
BESbswy