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PROPERTY INFO
FACTS
- Single Family
- Built In 1970
- Price/Sqft : $185.50
- 5 Days on Market
- MLS # : 3688713
- Updated Date : 12/11/2020 at 10:05
CONSTRUCTION
- Beds : 3
- Floor Size : 1,455 sqft
- Baths : 2 full
Listing Agent
Exp Realty Llc
Listing Agent's Description
DON'T MISS this completely remodeled ranch home in Stallings! Located in the beautiful & quiet neighborhood of Kingswood & within walking distance to the town park! Home has all new plumbing, roof, HVAC, floors, water heater, trim, doors, kitchen & bathrooms! Buyers will love the bright & spacious kitchen w/new white cabinets, granite counters, stainless appliances & tile backsplash. Enjoy relaxing or entertaining in the large living room & extra den/bonus room w/wood burning fireplace & access to the back patio. Newly refinished hardwood floors extend through the kitchen & bedrooms. Large master suite has a neutral color palette & luxury master bath w/stand alone tile shower, glass doors & granite counters. 2 additional bedrooms & secondary bathroom w/tile surround tub, new vanity & granite counters provides space for everyone! Large fenced in backyard gives you abundant space to enjoy the beautiful Carolina weather! This home checks all the boxes so schedule a showing today.
SEE MORE
- 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: Stallings
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Stallings
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,270 |
| EXPENSES | Loan Payment | -$996 |
| Property Tax | -$179 | |
| Property Insurance | -$55 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$78
|
||
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.
$269,900
PROJECTED PRICE
$1,270
PROJECTED RENT
0.47%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.48% |
| Appreciation Year (1-5) | 7.0% |
| 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
$77,274
LOAN DETAILS
$996
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $67,475 |
| Loan Amount | $202,425 |
4.5
YEARS SAVED
$14,195
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,270
LIST RENT -
$0.87
LIST RENT PER SQFT
-
$1,404
COMP ESTIMATED VALUE -
$0.97
COMP AVG. RENT PER SQFT
Comps Range
-
2332 Community Park Drive Matthews, NC 1
- 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 1970
- Rent
- Rent Per SQFT
- $1,270
- $0.87
-
1300 Stallings Road Matthews, NC 2
- 3 beds 2 baths ∙ 1,458 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,458 Sqft ∙ Built 1971
LEASED 06/28/19- Rent
- Rent Per SQFT
- $1,395
- $0.96
-
1216 Stallings Road Matthews, NC 3
- 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1970
LEASED 07/09/20- Rent
- Rent Per SQFT
- $1,395
- $0.93
-
1205 Driftway Point Matthews, NC 4
- 3 beds 3 baths ∙ 1,595 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,595 Sqft ∙ Built 1992
LEASED 06/01/20- Rent
- Rent Per SQFT
- $1,595
- $1.00
-
9002 Brad Court Matthews, NC 5
- 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 1998
LEASED 11/05/19- Rent
- Rent Per SQFT
- $1,750
- $0.97
PROPERTY LISTING DETAILS
1.980.254.1008
Exp Realty Llc
