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3055 Wyntree Court Matthews, NC 28104

3 Beds 3 Baths 1,729 sqft Built 1998

$270,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $156.16
  • 4 Days on Market
  • MLS # : 3697861
  • Updated Date : 01/16/2021 at 14:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,729 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty Llc

Listing Agent's Description

Adorable 1.5 story home in desirable Matthews area. This home offers 3 bedrooms, including the master bedroom on the first floor, 2.5 bathrooms, large living room with vaulted ceilings, upgraded marble surround with gas fireplace, beautiful laminate flooring, the kitchen offers granite countertops, stainless steel appliances farmhouse sink and tile backsplash. The spacious loft also offers some storage, the master bathroom has recently been updated with a new vanity, lighting and flooring. Large closets throughout for tons of storage space. The backyard is truly a private wooded oasis...multiple outdoor living spaces including a deck, 2 patios, a firepit area, mature trees and plants. Very peaceful! Hurry, you don't want to miss this one!

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: Stallings

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Neighborhood: Stallings

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
Indian Trail Elementary School Primary Regular 682 41 9
Sun Valley Middle School Middle Regular 1,365 69 6
Sun Valley High School High Regular 1,306 76 7

Indian Trail Elementary School

  • Education Level: Primary
  • # of students: 682
  • # of teachers: 41
9
GreatSchools Rating

Sun Valley Middle School

  • Education Level: Middle
  • # of students: 1,365
  • # of teachers: 69
6
GreatSchools Rating

Sun Valley High School

  • Education Level: High
  • # of students: 1,306
  • # of teachers: 76
7
GreatSchools Rating
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$938
Property Tax -$179
Property Insurance -$60
HOA -$27
Property Management Fees -$119
CASH FLOW
$307

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.

$270,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$938

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

11.5

YEARS SAVED

$47,739

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,638

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6253$1,6304$1,6955$1,715
$1,715
RENT COMPS ANALYSIS
  • 3055 Wyntree Court Matthews, NC 3
    • 3 beds 3 baths ∙ 1,729 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,729 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.94
    •  
  • 4907 Morningwood Drive Matthews, NC 1
    • 4 beds 3 baths ∙ 1,779 Sqft ∙ Built 2010 4 beds 3 baths ∙ 1,779 Sqft ∙ Built 2010
    property image
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.87
    •  
  • 1221 Hammond Drive Matthews, NC 2
    • 3 beds 3 baths ∙ 1,710 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,710 Sqft ∙ Built 2006
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.95
    •  
  • 1153 Hammond Drive Matthews, NC 4
    • 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 2004
    property image
    LEASED 11/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.98
    •  
  • 5193 Poplar Glen Drive Matthews, NC 5
    • 3 beds 3 baths ∙ 1,725 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,725 Sqft ∙ Built 1995
    property image
    LEASED 08/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,715
    • $0.99
    •  
PROPERTY LISTING DETAILS
Krista Cutler
1.704.737.6975
Exp Realty Llc
BESbswy