Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Single Family
- Built In 1993
- Price/Sqft : $129.40
- 4 Days on Market
- MLS # : 3698489
- Updated Date : 01/16/2021 at 15:40
CONSTRUCTION
- Beds : 4
- Floor Size : 2,704 sqft
- Baths : 2 full , 1 half
Listing Agent
Millennial Realty
Listing Agent's Description
Located conveniently in The Heathers this house is situated on large cul-de-sac lot, w/ fenced backyard that is a natural oasis, with NO HOA! Complete with stone patio, covered deck, gas stub for grilling, & mature trees! Inside you are immediately greeted with a sense of airiness and grandeur w/ 2 story foyer, French doors leading to the study & formal dining room with wainscoting. Downstairs features brand-new laminate wood flooring throughout, both gorgeous & durable! Kitchen includes granite countertops, stainless steel appliances, walk in pantry PLUS desk nook. Both breakfast area & family room feature large windows overlooking the backyard, a picturesque scene while cozied up to the gas fireplace! Upstairs includes 3 sizeable bedrooms & owner's suite complete with tray ceilings, soaking tub, and walk in closest. FROG is perfect for play room & includes dormer storage & laundry. Oversized 2 car garage has storage closet & plenty of space for workbench! Seller is a licensed agent
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: The Heathers
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: The Heathers
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,960 |
| EXPENSES | Loan Payment | -$1,215 |
| Property Tax | -$304 | |
| Property Insurance | -$78 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$244
|
||
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.
$349,900
PROJECTED PRICE
$1,960
PROJECTED RENT
0.56%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.48% |
| Appreciation Year (1-5) | 5.3% |
| 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
$98,474
LOAN DETAILS
$1,215
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $87,475 |
| Loan Amount | $262,425 |
9.33
YEARS SAVED
$44,948
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,960
LIST RENT -
$0.72
LIST RENT PER SQFT
-
$2,089
COMP ESTIMATED VALUE -
$0.77
COMP AVG. RENT PER SQFT
Comps Range
-
2507 Bathgate Lane Matthews, NC 3
- 4 beds 3 baths ∙ 2,704 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,704 Sqft ∙ Built 1993
![property image]()
- Rent
- Rent Per SQFT
- $1,960
- $0.72
-
3003 Pinewood Hill Drive Matthews, NC 1
- 4 beds 3 baths ∙ 2,481 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,481 Sqft ∙ Built 1995
![property image]()
LEASED 03/04/20- Rent
- Rent Per SQFT
- $1,800
- $0.73
-
4204 Lawrence Daniel Drive Matthews, NC 2
- 5 beds 3 baths ∙ 2,504 Sqft ∙ Built 2007 5 beds 3 baths ∙ 2,504 Sqft ∙ Built 2007
![property image]()
LEASED 04/27/20- Rent
- Rent Per SQFT
- $1,875
- $0.75
-
2724 Phillips Woods Lane Matthews, NC 4
- 4 beds 3 baths ∙ 2,706 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,706 Sqft ∙ Built 2006
![property image]()
LEASED 09/15/20- Rent
- Rent Per SQFT
- $2,245
- $0.83
-
3010 Stonehedge Court Matthews, NC 5
- 5 beds 4 baths ∙ 2,952 Sqft ∙ Built 1998 5 beds 4 baths ∙ 2,952 Sqft ∙ Built 1998
![property image]()
LEASED 10/29/20- Rent
- Rent Per SQFT
- $2,295
- $0.78
PROPERTY LISTING DETAILS
1.704.935.5575
Millennial Realty
