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3149 Winding Trail Matthews, NC 28105

4 Beds 2 Baths 1,906 sqft Built 1984

$265,000

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $139.03
  • 5 Days on Market
  • MLS # : 3712927
  • Updated Date : 03/06/2021 at 00:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,906 sqft
  • Baths : 2 full
Listing Agent

Allen Tate Matthews/mint Hill

Listing Agent's Description

The Matthews home you have been waiting for has just hit the market! This classic Split Foyer home has been updated with Luxury Vinyl Plank flooring in the common areas and new carpet in the bedrooms in 2020. Fresh paint throughout and new Black Stainless appliances. New roof in 2015. New HVAC in 2018. Freshly landscaped in 2021, and just waiting for you to call it home! Living areas and bedrooms on both levels provide great space for virtual school, or working from home. The possibilities for how you could use the space are endless! The huge lot offers plenty of room to stretch your legs and get back to nature. Watch deer, rabbits, squirrels and a variety of birds from the deck that overlooks the property. You will have a sense of privacy and space, even though you are close to everything Matthews has to offer. This location is the best of both worlds! Quiet neighborhood with no HOA, in top rated school district. Sure to move quickly. Schedule your showing today!

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: 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
Bain Elementary School Primary Regular 899 49 10
Mint Hill Middle School Middle Regular 1,249 64 5
Butler High School High Regular 2,081 106 7

Bain Elementary School

  • Education Level: Primary
  • # of students: 899
  • # of teachers: 49
10
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
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$920
Property Tax -$213
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
$264

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.

$265,000

PROJECTED PRICE

$1,580

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.5%
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$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

10.75

YEARS SAVED

$42,904

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,658

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,349
1$1,3492$1,5803$1,6504$1,7005$1,795
$1,795
RENT COMPS ANALYSIS
  • 3149 Winding Trail Matthews, NC 2
    • 4 beds 2 baths ∙ 1,906 Sqft ∙ Built 1984 4 beds 2 baths ∙ 1,906 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.83
    •  
  • 14011 Phillips Road Matthews, NC 1
    • 4 beds 2 baths ∙ 1,730 Sqft ∙ Built 1975 4 beds 2 baths ∙ 1,730 Sqft ∙ Built 1975
    property image
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,349
    • $0.78
    •  
  • 2328 Heathershire Lane Matthews, NC 3
    • 3 beds 3 baths ∙ 1,822 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,822 Sqft ∙ Built 1988
    property image
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.91
    •  
  • 2308 Heathershire Lane Matthews, NC 4
    • 3 beds 3 baths ∙ 1,934 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,934 Sqft ∙ Built 1988
    property image
    LEASED 11/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.88
    •  
  • 13701 Strathaven Drive Matthews, NC 5
    • 4 beds 3 baths ∙ 1,978 Sqft ∙ Built 1987 4 beds 3 baths ∙ 1,978 Sqft ∙ Built 1987
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.91
    •  
PROPERTY LISTING DETAILS
Joseph Mcmurry
1.980.254.1842
Allen Tate Matthews/mint Hill
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3712927
Last Updated: 03/06/2021
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