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203 Rose Arbor Lane Matthews, NC 28105

4 Beds 3 Baths 3,035 sqft Built 1986

INVESTimate

$470,000

List Price

$2,430

$2,187 - $2,673

Rent Est.

$496,038  ( +5.54%)   1 YR EST. FORECAST

PROPERTY INFO

August 26, 2020 RECENTLY ADDED
FACTS
  • Built In 1986
  • Price/Sqft : $154.86
  • 1 Days on Market
  • MLS # : 3655388
  • Updated Date : 08/26/2020 at 00:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,035 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Ballantyne Area

Listing Agent's Description

Here is your opportunity to own a home in the popular Greygate community in Matthews. What a great location! Just minutes away from Providence Road and the Arboretum, Downtown Matthews, Elizabeth Lane Elementary and Providence High School. This cul-de-sac home sits on approximately 1/2 an acre with a nice size lawn and is wooded in the back so you can enjoy peace and quiet in a central location. The home itself has been beautifully updated with a kitchen remodel, upstairs bath remodel, new carpet, crawl space encapsulation and more! There is a main level guest suite and an upstairs bonus room that can be used as a further bedroom, office space or rec room. Relax in the nice size den with a fireplace that is open to the kitchen. Enjoy the recently rebuilt deck with plenty of space for you and your guests. This is just an all-around great home. Great location, great condition and a great floor plan. Don't miss this excellent opportunity!

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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: Matthews

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Neighborhood: Matthews

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
Elizabeth Lane Elementary School Primary Regular 925 51 8
South Charlotte Middle School Middle Regular 856 41 9
Providence High School High Regular 1,991 94 9

Elizabeth Lane Elementary School

  • Education Level: Primary
  • # of students: 925
  • # of teachers: 51
8
GreatSchools Rating

South Charlotte Middle School

  • Education Level: Middle
  • # of students: 856
  • # of teachers: 41
9
GreatSchools Rating

Providence High School

  • Education Level: High
  • # of students: 1,991
  • # of teachers: 94
9
GreatSchools Rating
 

$423,000$517,000$470,000

PURCHASE PRICE

$2,187$2,673$2,430

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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,430
EXPENSES Loan Payment -$1,734
Property Tax -$384
Property Insurance -$84
HOA -$11
Property Management Fees -$219
CASH FLOW
-$2

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.

$470,000

PROJECTED PRICE

$2,430

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.54%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$130,300

INVESTMENT

$130,300

Down Payment
$117,500
Rehab Estimate
$5,750
Closing Costs
$7,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,734

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $117,500
Loan Amount $352,500
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$28,359

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,430

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,443

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$2,345
1$2,3452$2,4303$2,4504$2,5505$2,550
$2,550
RENT COMPS ANALYSIS
  • 203 Rose Arbor Lane Matthews, NC 2
    • 4 beds 3 baths ∙ 3,035 Sqft ∙ Built 1986 4 beds 3 baths ∙ 3,035 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $2,430
    • $0.80
    •  
  • 7516 Swinford Place Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,819 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,819 Sqft ∙ Built 1993
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,345
    • $0.83
    •  
  • 906 Grand Provincial Avenue Matthews, NC 3
    • 4 beds 4 baths ∙ 3,070 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,070 Sqft ∙ Built 2005
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.80
    •  
  • 2804 Bridle Brook Way Charlotte, NC 4
    • 5 beds 4 baths ∙ 3,110 Sqft ∙ Built 2006 5 beds 4 baths ∙ 3,110 Sqft ∙ Built 2006
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.82
    •  
  • 216 Rosedale Lane Matthews, NC 5
    • 4 beds 4 baths ∙ 3,307 Sqft ∙ Built 1997 4 beds 4 baths ∙ 3,307 Sqft ∙ Built 1997
    LEASED 03/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.77
    •  
PROPERTY LISTING DETAILS
David Rinehart
1.704.593.9736
Keller Williams Ballantyne Area
BESbswy