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5018 Stonehill Lane Matthews, NC 28104

4 Beds 3 Baths 2,764 sqft Built 2016

$409,500

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $148.15
  • 81 Days on Market
  • MLS # : 3662962
  • Updated Date : 12/04/2020 at 21:09
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,764 sqft
  • Baths : 2 full , 1 half
Listing Agent

Heritage Home Realty, Llc

Listing Agent's Description

MOTIVATED SELLER! You'll enjoy lots of privacy with this yard that backs up to the woods. A short walk through the trees takes you to a PLAYGROUND and WALKING TRAILS. Like-new home features 2" blinds and craftsman-style trim throughout. Pass the private study and open dining room to find a large, open family room with windows across the back giving you a beautiful view. The stunning kitchen with espresso cabinet and huge quartz island and large breakfast nook are perfectly positioned to enjoy the lush view of the woods as well. The grand master bedroom overlooks the lovely back yard, and the master bathroom is complete with a dual bowl vanity, separate shower, tub and spacious walk-in closet. Two secondary bedrooms are nice in size and a large fourth bedroom (same size as the master) would make a great room for a teen or to use as a game room. The full-size laundry room with built-in cabinet upstairs. HOA includes the neighborhood pool just steps away in this nice, quiet neighborhood.

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: Chestnut Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $118k338k

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

Neighborhood: Chestnut Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8441905

* 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
Indian Trail Elementary School Primary Regular 682 41 9
Sun Valley Middle School Middle Regular 1,365 69 6
Sun Valley High School High Regular 1,306 76 7

Indian Trail Elementary School

  • Education Level: Primary
  • # of students: 682
  • # of teachers: 41
9
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
 

$368,550$450,450$409,500

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,511
Property Tax -$271
Property Insurance -$79
HOA -$54
Property Management Fees -$119
CASH FLOW
-$125

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.

$409,500

PROJECTED PRICE

$1,910

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 8.9%
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$1.4M

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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$114,268

INVESTMENT

$114,268

Down Payment
$102,375
Rehab Estimate
$5,750
Closing Costs
$6,143

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,511

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $102,375
Loan Amount $307,125
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$19,723

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $1,893

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,7953$1,9004$1,9105$1,950
$1,950
RENT COMPS ANALYSIS
  • 5018 Stonehill Lane Matthews, NC 4
    • 4 beds 3 baths ∙ 2,764 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,764 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.69
    •  
  • 3690 Privette Road Matthews, NC 1
    • 4 beds 3 baths ∙ 2,898 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,898 Sqft ∙ Built 2009
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.60
    •  
  • 4008 Cedar Point Avenue Matthews, NC 2
    • 3 beds 3 baths ∙ 2,485 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,485 Sqft ∙ Built 2007
    LEASED 06/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.72
    •  
  • 1642 Candlewood Ridge Lane Matthews, NC 3
    • 4 beds 3 baths ∙ 2,741 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,741 Sqft ∙ Built 2006
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.69
    •  
  • 1008 Feather Oak Lane Matthews, NC 5
    • 4 beds 3 baths ∙ 2,820 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,820 Sqft ∙ Built 2004
    LEASED 10/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.69
    •  
PROPERTY LISTING DETAILS
Scott Wheeler
1.704.553.1000
Heritage Home Realty, Llc
BESbswy