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PROPERTY INFO
FACTS
- Single Family
- Built In 1969
- Price/Sqft : $133.45
- 4 Days on Market
- MLS # : 3704830
- Updated Date : 02/05/2021 at 10:58
CONSTRUCTION
- Beds : 3
- Floor Size : 1,686 sqft
- Baths : 2 full
Listing Agent
Weichert, Realtors- Lkn Partners
Listing Agent's Description
Awesome home in a well established neighborhood in the highly sought after Matthews school district!! Union county property taxes could save a buyer money. This home features 3 bedrooms and 2 bathrooms with great bones and a flexible layout. This home has a big back yard with a shed. This is a one owner home! This home features brand new stainless steel appliances and a large kitchen with plenty of cabinet space! This home is close to shopping, grocery, and restaurants. Minutes from I485! Do not miss out on this one!! Bring your DIY skills and imagination!! Please submit Final and Best on 2/6/21 by 8pm!!
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
Zip Code: 28104
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 28104
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,450 |
| EXPENSES | Loan Payment | -$782 |
| Property Tax | -$149 | |
| Property Insurance | -$59 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$341
|
||
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.
$225,000
PROJECTED PRICE
$1,450
PROJECTED RENT
0.64%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.48% |
| Appreciation Year (1-5) | 5.2% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.31% |
| 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
$65,375
LOAN DETAILS
$782
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $56,250 |
| Loan Amount | $168,750 |
13.25
YEARS SAVED
$47,078
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 -
$0.86
LIST RENT PER SQFT
-
$1,724
COMP ESTIMATED VALUE -
$1.02
COMP AVG. RENT PER SQFT
Comps Range
-
408 Hollice Place Matthews, NC 1
- 3 beds 2 baths ∙ 1,686 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,686 Sqft ∙ Built 1969
- Rent
- Rent Per SQFT
- $1,450
- $0.86
-
1409 Hammond Drive Stallings, NC 2
- 3 beds 3 baths ∙ 1,543 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,543 Sqft ∙ Built 2004
LEASED 04/16/20- Rent
- Rent Per SQFT
- $1,495
- $0.97
-
1042 Kensrowe Lane Stallings, NC 3
- 3 beds 3 baths ∙ 1,614 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,614 Sqft ∙ Built 2005
LEASED 01/04/21- Rent
- Rent Per SQFT
- $1,645
- $1.02
-
1601 Hammond Drive Matthews, NC 4
- 3 beds 2 baths ∙ 1,633 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,633 Sqft ∙ Built 2005
LEASED 02/02/21- Rent
- Rent Per SQFT
- $1,675
- $1.03
-
2217 Bow Wood Trail Matthews, NC 5
- 4 beds 3 baths ∙ 1,586 Sqft ∙ Built 1986 4 beds 3 baths ∙ 1,586 Sqft ∙ Built 1986
LEASED 01/26/21- Rent
- Rent Per SQFT
- $1,695
- $1.07
PROPERTY LISTING DETAILS
1.704.928.6404
Weichert, Realtors- Lkn Partners
