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5043 Weatherly Way Stallings, NC 28104

4 Beds 3 Baths 1,748 sqft Built 1999

$389,900

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $223.05
  • 2 Days on Market
  • MLS # : CAR3761520
  • Updated Date : 07/12/2021 at 15:57
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,748 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homelister, Inc.

Listing Agent's Description

Looking for a great home in a neighborhood with no HOA? No need to look any further. This "move in" ready home, located in Stonewood subdivision in Stallings, is 4 bedroom, 2 1/2 bath, and two stories on almost a half acre. The home sits on a large, treed corner lot which includes 3 fruit bearing trees (loaded with fruit) apple, peach and pear. The home is located in the Sun Valley School District in Union County. The property boasts a sideload two car garage, three season sunroom 10' x 12', nice sized deck, a 10' x 20' storage building/workshop with loft, and a 8' x 10' storage building. The house has the following improvements: Bamboo laminate flooring on the first floor (2017), new carpeting on the second floor (2017), new roof (2018), new HVAC including gas furnace (2019), freshly painted (2021), refaced cabinets (2021), and many other improvements. You have to see this home to appreciate it.

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: Stallings

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Neighborhood: Stallings

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441809

* 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
 

$350,910$428,890$389,900

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,354
Property Tax -$261
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
-$114

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.

$389,900

PROJECTED PRICE

$1,680

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 7.0%
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$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$109,074

INVESTMENT

$109,074

Down Payment
$97,475
Rehab Estimate
$5,750
Closing Costs
$5,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,354

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,475
Loan Amount $292,425
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$15,836

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,717

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,680
1$1,6802$1,6953$1,7004$1,7155$1,895
$1,895
RENT COMPS ANALYSIS
  • 5043 Weatherly Way Stallings, NC 1
    • 4 beds 3 baths ∙ 1,748 Sqft ∙ Built 1999 4 beds 3 baths ∙ 1,748 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.96
    •  
  • 1153 Hammond Drive Matthews, NC 2
    • 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 2004
    LEASED 11/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.98
    •  
  • 314 Pond Place Lane Matthews, NC 3
    • 3 beds 3 baths ∙ 1,760 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,760 Sqft ∙ Built 2018
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.97
    •  
  • 5193 Poplar Glen Drive Matthews, NC 4
    • 3 beds 3 baths ∙ 1,725 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,725 Sqft ∙ Built 1995
    LEASED 08/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,715
    • $0.99
    •  
  • 2014 Blue Pond Road Matthews, NC 5
    • 3 beds 3 baths ∙ 1,913 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,913 Sqft ∙ Built 2020
    LEASED 03/03/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.99
    •  
PROPERTY LISTING DETAILS
Jennifer Stein
1.855.400.8566
Homelister, Inc.
BESbswy