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4309 Toddington Lane Matthews, NC 28105

4 Beds 3 Baths 3,289 sqft Built 2010

$449,000

List Price

$2,050

$1.8K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $136.52
  • 5 Days on Market
  • MLS # : 3719158
  • Updated Date : 03/19/2021 at 06:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,289 sqft
  • Baths : 2 full , 1 half
Listing Agent

Wang Realty Llc

Listing Agent's Description

Pristine and move-in ready! New Carpet, New Gas Range, New Microwave Oven. This amazing 4 bed 2.5 bath home with stone and fiber cement sidings boasts an open floor plan. Opening to family room w/ gas log fireplace and nice moldings & trim around the fireplace, the designer kitchen has s/s appliances, granite countertop, island & 42" maple cabinets. Master suite w/ huge walk-in closet, garden tub & shower. Large loft perfect for bonus room or playroom for kids. Huge flat backyard is fully fenced. Excellent Schools! Convenient to shopping, dining, and YMCA, the highly sought after Weddington Meadows neighborhood is adjacent to the 265-acre Colonel Francis Beatty Park perfect for everything your heart desires outdoors! Beatty Park features 2 lighted basketball courts, 6 tennis courts, 5 lighted soccer fields, 2 horseshoe pits, picnic areas with grills, multi-purpose (walk, run, mountain biking) trails, 2 playgrounds, 2 softball fields, a lovely lake with fishing, kayaking and canoeing.

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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
Mckee Road Elementary School Primary Regular 493 30 9
Jay M. Robinson Middle School Middle Regular 1,101 51 10
Providence High School High Regular 1,991 94 9

Mckee Road Elementary School

  • Education Level: Primary
  • # of students: 493
  • # of teachers: 30
9
GreatSchools Rating

Jay M. Robinson Middle School

  • Education Level: Middle
  • # of students: 1,101
  • # of teachers: 51
10
GreatSchools Rating

Providence High School

  • Education Level: High
  • # of students: 1,991
  • # of teachers: 94
9
GreatSchools Rating
 

$404,100$493,900$449,000

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,560
Property Tax -$414
Property Insurance -$89
HOA -$58
Property Management Fees -$119
CASH FLOW
-$190

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.

$449,000

PROJECTED PRICE

$2,050

PROJECTED RENT

0.46%

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-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,735

INVESTMENT

$124,735

Down Payment
$112,250
Rehab Estimate
$5,750
Closing Costs
$6,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,560

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,250
Loan Amount $336,750
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$12,388

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $0.62

    LIST RENT PER SQFT
  • $2,286

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$2,050
1$2,0502$2,1003$2,1904$2,4005$2,450
$2,450
RENT COMPS ANALYSIS
  • 4309 Toddington Lane Matthews, NC 1
    • 4 beds 3 baths ∙ 3,289 Sqft ∙ Built 2010 4 beds 3 baths ∙ 3,289 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.62
    •  
  • 3709 Weddington Ridge Lane Matthews, NC 2
    • 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
    •  
  • 2114 Savannah Hills Drive Matthews, NC 3
    • 4 beds 3 baths ∙ 3,300 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,300 Sqft ∙ Built 2006
    LEASED 02/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $0.66
    •  
  • 4309 Toddington Road Matthews, NC 4
    • 4 beds 3 baths ∙ 3,225 Sqft ∙ Built 2010 4 beds 3 baths ∙ 3,225 Sqft ∙ Built 2010
    LEASED 02/17/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.74
    •  
  • 4315 Mccamey Drive Matthews, NC 5
    • 5 beds 3 baths ∙ 3,628 Sqft ∙ Built 2005 5 beds 3 baths ∙ 3,628 Sqft ∙ Built 2005
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.68
    •  
PROPERTY LISTING DETAILS
Wei Wang
1.704.779.3255
Wang Realty Llc
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3719158
Last Updated: 03/19/2021
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