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432 Matfield Court Monroe, NC 28110

4 Beds 3 Baths 2,364 sqft Built 2004

$245,000

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $103.64
  • 3 Days on Market
  • MLS # : 3696586
  • Updated Date : 01/08/2021 at 12:47
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,364 sqft
  • Baths : 2 full , 1 half
Listing Agent

Cooper Realty, Inc.

Listing Agent's Description

Beautiful 2 story home on corner lot with fenced in backyard. Open floor plan includes a gas fireplace with 4 bedrooms, 2.5 baths and loft upstairs. Large master bedroom and spacious closet. Neighborhood features a community pool, sidewalks, and more! Close to Wesley Chapel Target, Chikfila, Hickory Tavern, and other shops only a few minutes away! Home is vacant and being sold AS IS and everything on site conveys with the home.

SEE MORE

MARKET HIGHLIGHTS

  • 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

Zip Code: 28110

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210kPrice in $113k215k

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

Zip Code: 28110

ZipNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350Rent in $8011375

* 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
Shiloh Elementary School Primary Regular 564 39 6
Sun Valley Middle School Middle Regular 1,365 69 6
Sun Valley High School High Regular 1,306 76 7

Shiloh Elementary School

  • Education Level: Primary
  • # of students: 564
  • # of teachers: 39
6
GreatSchools Rating

Sun Valley Middle School

  • Education Level: Middle
  • # of students: 1,365
  • # of teachers: 69
6
GreatSchools Rating

Sun Valley High School

  • Education Level: High
  • # of students: 1,306
  • # of teachers: 76
7
GreatSchools Rating
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$851
Property Tax -$129
Property Insurance -$72
HOA -$31
Property Management Fees -$119
CASH FLOW
$408

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$245,000

PROJECTED PRICE

$1,610

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 7.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
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$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

13.33

YEARS SAVED

$51,961

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,584

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5503$1,5754$1,5955$1,610
$1,610
RENT COMPS ANALYSIS
  • 432 Matfield Court Monroe, NC 5
    • 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.68
    •  
  • 4323 Red Hook Road Monroe, NC 1
    • 3 beds 3 baths ∙ 2,253 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,253 Sqft ∙ Built 2005
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.66
    •  
  • 612 Latimer Way Monroe, NC 2
    • 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 2006
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.66
    •  
  • 310 Waterlemon Way Monroe, NC 3
    • 3 beds 3 baths ∙ 2,191 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,191 Sqft ∙ Built 2006
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.72
    •  
  • 4110 Herkimer Drive Monroe, NC 4
    • 4 beds 3 baths ∙ 2,530 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,530 Sqft ∙ Built 2007
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.63
    •  
PROPERTY LISTING DETAILS
Linsey Starnes
1.704.219.7250
Cooper Realty, Inc.
BESbswy