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4114 Mccamey Drive Matthews, NC 28104

4 Beds 3 Baths 2,875 sqft Built 2013

$363,000

List Price

$2,040

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $126.26
  • 2 Days on Market
  • MLS # : 3687705
  • Updated Date : 12/05/2020 at 10:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,875 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Ballantyne Area

Listing Agent's Description

Wonderful home located desirable Franklin Meadows neighborhood. Inviting covered front porch leads into the two story foyer with wood floors that extend throughout the main and up the stairs. Entry office features double french doors could also serve as a great den. Formal dining room is great for entertaining or could be a designated play room. Large family room with gas fireplace flows into casual dining area and open kitchen and features an abundance of windows. Lots of granite counter space, including kitchen island, gas range, oversized pantry and tile backsplash. Wood stairs, upstairs hallway wood floors and carpet are new. The large master suite features two closets and tray ceiling. Master bath features glass shower, garden tub and dual separate vanities. 3 additional bedrooms, full bath and laundry up. Conveniently located to Colonel Francis Beatty Park. Only 25 mi to CLT airport, 15 mi to Uptown and 9 mi to Ballantyne. This one is not to be missed!

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: Providence Estates East

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $118k342k

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

Neighborhood: Providence Estates East

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8441924

* 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
Matthews Elementary School Primary Regular 1,006 51 7
Crestdale Middle School Middle Regular 868 44 7
Butler High School High Regular 2,081 106 7

Matthews Elementary School

  • Education Level: Primary
  • # of students: 1,006
  • # of teachers: 51
7
GreatSchools Rating

Crestdale Middle School

  • Education Level: Middle
  • # of students: 868
  • # of teachers: 44
7
GreatSchools Rating

Butler High School

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

$326,700$399,300$363,000

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$1,339
Property Tax -$357
Property Insurance -$81
HOA -$35
Property Management Fees -$119
CASH FLOW
$108

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.

$363,000

PROJECTED PRICE

$2,040

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.1%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,945

INVESTMENT

$101,945

Down Payment
$90,750
Rehab Estimate
$5,750
Closing Costs
$5,445

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,339

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $90,750
Loan Amount $272,250
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$37,363

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,040

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $2,092

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$2,0403$2,0954$2,1005$2,150
$2,150
RENT COMPS ANALYSIS
  • 4114 Mccamey Drive Matthews, NC 2
    • 4 beds 3 baths ∙ 2,875 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,875 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $0.71
    •  
  • 3104 Surreyhill Court Charlotte, NC 1
    • 5 beds 3 baths ∙ 2,780 Sqft ∙ Built 2000 5 beds 3 baths ∙ 2,780 Sqft ∙ Built 2000
    LEASED 03/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.68
    •  
  • 7307 Lamplighter Close Drive Matthews, NC 3
    • 5 beds 3 baths ∙ 2,755 Sqft ∙ Built 5 beds 3 baths ∙ 2,755 Sqft ∙ Built
    LEASED 10/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.76
    •  
  • 3709 Weddington Ridge Lane Matthews, NC 4
    • 4 beds 4 baths ∙ 3,000 Sqft ∙ Built 2000 4 beds 4 baths ∙ 3,000 Sqft ∙ Built 2000
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.70
    •  
  • 906 Putney Court Matthews, NC 5
    • 5 beds 3 baths ∙ 2,791 Sqft ∙ Built 2012 5 beds 3 baths ∙ 2,791 Sqft ∙ Built 2012
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.77
    •  
PROPERTY LISTING DETAILS
David Scibor
1.704.808.0909
Keller Williams Ballantyne Area
BESbswy