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

423 Amir Circle Matthews, NC 28105

3 Beds 3 Baths 1,588 sqft Built 2002

$255,000

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $160.58
  • 2 Days on Market
  • MLS # : 3719907
  • Updated Date : 03/20/2021 at 17:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,588 sqft
  • Baths : 2 full , 1 half
Listing Agent

Don Carter Real Estate

Listing Agent's Description

LAST DAY FOR SHOWINGS THURSDAY MARCH 25 8PM...Fantastic opportunity to own a cute and cozy 5 star move-in ready home conveniently located near charming downtown Matthews. From the inviting front porch, you open the door to be welcomed by a warm family room with stone fireplace. The beautiful first floor master has a walk-in shower and garden tub, huge closet space and multiple windows for an abundance of natural light. Vinyl Plank flooring throughout the first floor (carpet in master). Two spacious bedrooms upstairs with another full bathroom and open loft area perfect for office or play area. Nest thermostat, Nest x Yale deadbolt and Chamberlain garage opener (all 3 Wi-Fi enabled and app controlled). Has been a successful AirBnB and short-term rental property. Broker interest. Furniture is for sale also and can be purchased separately, including 3 queen beds, twin day bed, couch, chairs, and many other modern decor pieces.

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: Matthews

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Neighborhood: Matthews

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441809

* 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
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$886
Property Tax -$205
Property Insurance -$57
HOA -$21
Property Management Fees -$119
CASH FLOW
$472

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.

$255,000

PROJECTED PRICE

$1,760

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.5%
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

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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$886

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

14.17

YEARS SAVED

$58,937

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,497

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3953$1,4954$1,6955$1,760
$1,760
RENT COMPS ANALYSIS
  • 423 Amir Circle Matthews, NC 5
    • 3 beds 3 baths ∙ 1,588 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,588 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $1.11
    •  
  • 738 Selma Burke Lane Matthews, NC 1
    • 4 beds 2 baths ∙ 1,428 Sqft ∙ Built 1995 4 beds 2 baths ∙ 1,428 Sqft ∙ Built 1995
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.95
    •  
  • 1037 Crestdale Crossing Drive Matthews, NC 2
    • 3 beds 3 baths ∙ 1,464 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,464 Sqft ∙ Built 2003
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.95
    •  
  • 1040 Crestdale Crossing Drive Matthews, NC 3
    • 3 beds 3 baths ∙ 1,562 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,562 Sqft ∙ Built 2002
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.96
    •  
  • 922 Evian Lane Matthews, NC 4
    • 3 beds 2 baths ∙ 1,855 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,855 Sqft ∙ Built 1987
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.91
    •  
PROPERTY LISTING DETAILS
Megan Johnson
1.704.989.5761
Don Carter Real Estate
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3719907
Last Updated: 03/20/2021
BESbswy