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 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
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Matthews
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$73,325
LOAN DETAILS
$886
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $63,750 |
| Loan Amount | $191,250 |
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
-
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
1.704.989.5761
Don Carter Real Estate
MLS #: 3719907
Last Updated: 03/20/2021
