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3105 Denhem Court Matthews, NC 28105

3 Beds 2 Baths 1,501 sqft Built 1992

$240,000

List Price

$1,380

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $159.89
  • 3 Days on Market
  • MLS # : 3688697
  • Updated Date : 12/04/2020 at 17:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,501 sqft
  • Baths : 2 full
Listing Agent

Prostead Realty

Listing Agent's Description

Charming ranch home in Matthews area. One car attached garage. Large Backyard. Vaulted Ceiling in master as well as a walk in closet. Won't last long.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Marshbrooke

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300kPrice in $74k305k

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

Neighborhood: Marshbrooke

NeighborhoodNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400150016001700Rent in $6771766

* 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
Crown Point Elementary School Primary Regular 743 40 5
Mint Hill Middle School Middle Regular 1,249 64 5
Butler High School High Regular 2,081 106 7

Crown Point Elementary School

  • Education Level: Primary
  • # of students: 743
  • # of teachers: 40
5
GreatSchools Rating

Mint Hill Middle School

  • Education Level: Middle
  • # of students: 1,249
  • # of teachers: 64
5
GreatSchools Rating

Butler High School

  • Education Level: High
  • # of students: 2,081
  • # of teachers: 106
7
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$886
Property Tax -$229
Property Insurance -$55
HOA -$15
Property Management Fees -$119
CASH FLOW
$77

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.

$240,000

PROJECTED PRICE

$1,380

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 8.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.02%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

6.92

YEARS SAVED

$23,073

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,380

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,385

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3803$1,4254$1,5455$1,550
$1,550
RENT COMPS ANALYSIS
  • 3105 Denhem Court Matthews, NC 2
    • 3 beds 2 baths ∙ 1,501 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,501 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $0.92
    •  
  • 3333 Fortis Lane Matthews, NC 1
    • 3 beds 3 baths ∙ 1,506 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,506 Sqft ∙ Built 1988
    property image
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.90
    •  
  • 4027 Raccoon Run Court Matthews, NC 3
    • 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 2006
    property image
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.89
    •  
  • 8808 Elkins Park Drive Matthews, NC 4
    • 3 beds 2 baths ∙ 1,659 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,659 Sqft ∙ Built 1993
    property image
    LEASED 03/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.93
    •  
  • 2711 Hunters Moon Lane Matthews, NC 5
    • 3 beds 3 baths ∙ 1,595 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,595 Sqft ∙ Built 2013
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.97
    •  
PROPERTY LISTING DETAILS
Abby Nelson
1.704.890.1860
Prostead Realty
BESbswy