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4314 Toddington Lane Matthews, NC 28105

4 Beds 3 Baths 3,263 sqft Built 2008

INVESTimate

$399,900

List Price

$2,110

$1,899 - $2,321

Rent Est.

$420,455  ( +5.14%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2008
  • Price/Sqft : $122.56
  • 33 Days on Market
  • MLS # : 3642450
  • Updated Date : 08/25/2020 at 09:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,263 sqft
  • Baths : 2 full , 1 half
Listing Agent

Yancey Realty Llc

Listing Agent's Description

What a gorgeous and inviting home! Featuring an open main floor plan, 4 spacious bedrooms, 2.5 bathrooms, a bonus loft space, and a top-rated school district, what more could you need? How about a large kitchen with granite countertops and dining areas, remodeled pantry and drop zone, spacious family room with a gas fireplace, and a fresh exterior paint job (June 2020). The upstairs master retreat offers an expansive en-suite including a garden tub, stand-alone shower, double vanities and double walk-in closets. The home sits on a sprawling lot with perfectly manicured landscaping, located in a cul-de-sac, with a fenced in backyard including a huge back patio perfect for outdoor entertaining. This amazing home is nearby the 265-acre Colonel Francis Beatty Park perfect for fishing, biking, sports, and everything your heart desires outdoors! Schedule your tour today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$359,910$439,890$399,900

PURCHASE PRICE

$1,899$2,321$2,110

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,110
EXPENSES Loan Payment -$1,475
Property Tax -$377
Property Insurance -$89
HOA -$58
Property Management Fees -$190
CASH FLOW
-$80

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.

$399,900

PROJECTED PRICE

$2,110

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.14%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,475

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$15,848

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,110

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $2,374

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1003$2,1104$2,4955$2,650
$2,650
RENT COMPS ANALYSIS
  • 4314 Toddington Lane Matthews, NC 3
    • 4 beds 3 baths ∙ 3,263 Sqft ∙ Built 2008 4 beds 3 baths ∙ 3,263 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $2,110
    • $0.65
    •  
  • 3933 Franklin Meadows Drive Matthews, NC 1
    • 4 beds 4 baths ∙ 2,998 Sqft ∙ Built 2014 4 beds 4 baths ∙ 2,998 Sqft ∙ Built 2014
    LEASED 07/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.70
    •  
  • 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
    •  
  • 1009 Yarrow Street Matthews, NC 4
    • 5 beds 3 baths ∙ 3,386 Sqft ∙ Built 2004 5 beds 3 baths ∙ 3,386 Sqft ∙ Built 2004
    LEASED 07/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.74
    •  
  • 4022 Toddington Lane Charlotte, NC 5
    • 5 beds 4 baths ∙ 3,451 Sqft ∙ Built 2003 5 beds 4 baths ∙ 3,451 Sqft ∙ Built 2003
    LEASED 08/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.77
    •  
PROPERTY LISTING DETAILS
Jamie Young
1.704.516.8946
Yancey Realty Llc
BESbswy