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3201 Twin Falls Lane Matthews, NC 28105

3 Beds 3 Baths 1,876 sqft Built 1990

INVESTimate

$265,000

List Price

$1,450

$1,305 - $1,595

Rent Est.

$288,400  ( +8.83%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1990
  • Price/Sqft : $141.26
  • 22 Days on Market
  • MLS # : 3647457
  • Updated Date : 08/26/2020 at 00:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,876 sqft
  • Baths : 2 full , 1 half
Listing Agent

Allen Tate Providence @485

Listing Agent's Description

Welcome home to this bright and beautiful charmer! Located in Callaway Plantation just moments from all of the shopping and dining desirable Matthews has to offer and situated on a private fenced lot. This open floorplan features vaulted ceilings in the great room and a stunning stacked stone fireplace. Reading nook at the entry is the perfect spot to curl up with a book but also flexible enough for a home office or teaching space. Kitchen features bright white cabinets, granite counters, tile backsplash and stainless steel appliances. Prepare to fall in love with some of the custom wood features such as a barn door, laundry shelving and wood feature wall in secondary bedroom. The second floor features the spacious master bedroom with trey ceiling and vaulted master bath along with two additional bedrooms and bathroom . New interior paint, new exterior paint 2018, new HVAC 2017, this home is the epitome of move-in ready and you won't want to miss it!

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: 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
Piney Grove Elementary School Primary Regular 823 52 4
Mint Hill Middle School Middle Regular 1,249 64 5
Butler High School High Regular 2,081 106 7

Piney Grove Elementary School

  • Education Level: Primary
  • # of students: 823
  • # of teachers: 52
4
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

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$978
Property Tax -$244
Property Insurance -$63
HOA -$32
Property Management Fees -$131
CASH FLOW
$3

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

$1,450

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 8.83%
Maintenance Year (1-5) 8.00%
Vacancy 6.02%
Length of Stay Years 2

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 50% down payment or higher enables the proceeds from the asset to cover all costs.

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$12,888

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,459

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,449
1$1,4492$1,4503$1,4504$1,5205$1,545
$1,545
RENT COMPS ANALYSIS
  • 3201 Twin Falls Lane Matthews, NC 3
    • 3 beds 3 baths ∙ 1,876 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,876 Sqft ∙ Built 1990
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.77
    •  
  • 7333 Aragorn Lane Charlotte, NC 1
    • 4 beds 3 baths ∙ 1,893 Sqft ∙ Built 2007 4 beds 3 baths ∙ 1,893 Sqft ∙ Built 2007
    property image
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,449
    • $0.77
    •  
  • 7426 Aragorn Lane Charlotte, NC 2
    • 3 beds 3 baths ∙ 2,002 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,002 Sqft ∙ Built 2006
    property image
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.72
    •  
  • 5419 Wyalong Drive Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,837 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,837 Sqft ∙ Built 2006
    property image
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.83
    •  
  • 2621 Hunters Moon Lane Matthews, NC 5
    • 3 beds 3 baths ∙ 1,960 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,960 Sqft ∙ Built 2013
    property image
    LEASED 02/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.79
    •  
PROPERTY LISTING DETAILS
Jeremy Ordan
1.704.609.9300
Allen Tate Providence @485
BESbswy