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 2011
- Price/Sqft : $111.63
- 7 Days on Market
- MLS # : 3708964
- Updated Date : 02/20/2021 at 00:05
CONSTRUCTION
- Beds : 6
- Floor Size : 3,672 sqft
- Baths : 3 full
Listing Agent
Prostead Realty
Listing Agent's Description
Huge size house located in a fantastic neighborhood It was built in 2011. Top ranked schools. Convenient to shopping center and restaurants. A park and green trail nearby. 6 beds featured with walk-in closets. Very open floor plan. Fireplace in living room. 42' cabinets with granite counter top. Stainless steel appliances. Hardwood floor on main. Huge master and big bathroom and great size closet.
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: Providence Estates East
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Providence Estates East
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,300 |
| EXPENSES | Loan Payment | -$1,424 |
| Property Tax | -$418 | |
| Property Insurance | -$96 | |
| HOA | -$58 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$185
|
||
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.
$409,900
PROJECTED PRICE
$2,300
PROJECTED RENT
0.56%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$114,374
LOAN DETAILS
$1,424
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $102,475 |
| Loan Amount | $307,425 |
7.67
YEARS SAVED
$40,469
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,300
LIST RENT -
$0.63
LIST RENT PER SQFT
-
$2,472
COMP ESTIMATED VALUE -
$0.67
COMP AVG. RENT PER SQFT
Comps Range
-
4208 Toddington Lane Matthews, NC 2
- 6 beds 3 baths ∙ 3,672 Sqft ∙ Built 2011 6 beds 3 baths ∙ 3,672 Sqft ∙ Built 2011
![property image]()
- Rent
- Rent Per SQFT
- $2,300
- $0.63
-
918 Landry Drive Matthews, NC 1
- 5 beds 5 baths ∙ 3,552 Sqft ∙ Built 2014 5 beds 5 baths ∙ 3,552 Sqft ∙ Built 2014
![property image]()
LEASED 01/14/20- Rent
- Rent Per SQFT
- $2,200
- $0.62
-
4315 Mccamey Drive Matthews, NC 3
- 5 beds 3 baths ∙ 3,628 Sqft ∙ Built 2005 5 beds 3 baths ∙ 3,628 Sqft ∙ Built 2005
![property image]()
LEASED 10/15/19- Rent
- Rent Per SQFT
- $2,450
- $0.68
-
2519 Hampton Glen Court Matthews, NC 4
- 5 beds 4 baths ∙ 3,881 Sqft ∙ Built 2002 5 beds 4 baths ∙ 3,881 Sqft ∙ Built 2002
![property image]()
LEASED 06/01/20- Rent
- Rent Per SQFT
- $2,495
- $0.64
PROPERTY LISTING DETAILS
1.704.900.9150
Prostead Realty
MLS #: 3708964
Last Updated: 02/20/2021
