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 1990
- Price/Sqft : $167.71
- 10 Days on Market
- MLS # : 3707178
- Updated Date : 02/20/2021 at 00:05
CONSTRUCTION
- Beds : 3
- Floor Size : 1,431 sqft
- Baths : 2 full
Listing Agent
Prostead Realty
Listing Agent's Description
Adorable 3 bedrooms and 2 FULL baths ranch home in Callaway Plantation. Located near a cul-de-sac; minimal through traffics. Oversized one car garage, Bamboo floorings throughout (except for the kitchen and bathrooms). Large deck, leveled and private backyard for entertaining. Sliding door to the deck and all the windows have been replaced. Community amenities include clubhouse, playground, pool, tennis courts and walking trails. Excellent location - close to shopping and major highways. School Assignment for the current school year.
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: Marshbrooke
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Marshbrooke
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,310 |
| EXPENSES | Loan Payment | -$834 |
| Property Tax | -$221 | |
| Property Insurance | -$54 | |
| HOA | -$29 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$53
|
||
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
$1,310
PROJECTED RENT
0.55%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$69,350
LOAN DETAILS
$834
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $60,000 |
| Loan Amount | $180,000 |
6.25
YEARS SAVED
$16,984
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,310
LIST RENT -
$0.92
LIST RENT PER SQFT
-
$1,334
COMP ESTIMATED VALUE -
$0.93
COMP AVG. RENT PER SQFT
Comps Range
-
3208 Twin Falls Lane Matthews, NC 1
- 3 beds 2 baths ∙ 1,431 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,431 Sqft ∙ Built 1990
- Rent
- Rent Per SQFT
- $1,310
- $0.92
-
3333 Fortis Lane Matthews, NC 2
- 3 beds 3 baths ∙ 1,506 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,506 Sqft ∙ Built 1988
LEASED 09/22/20- Rent
- Rent Per SQFT
- $1,350
- $0.90
-
9244 Idlewild Road Charlotte, NC 3
- 3 beds 2 baths ∙ 1,454 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,454 Sqft ∙ Built 1948
LEASED 05/08/20- Rent
- Rent Per SQFT
- $1,375
- $0.95
-
5623 Wyalong Drive Charlotte, NC 4
- 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 2007
LEASED 03/12/20- Rent
- Rent Per SQFT
- $1,450
- $0.91
-
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
LEASED 05/08/20- Rent
- Rent Per SQFT
- $1,550
- $0.97
PROPERTY LISTING DETAILS
1.704.400.7744
Prostead Realty
MLS #: 3707178
Last Updated: 02/20/2021
