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5307 Poplar Knoll Drive Matthews, NC 28105

5 Beds 3 Baths 2,762 sqft Built 2014

$483,000

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $174.87
  • 2 Days on Market
  • MLS # : CAR3761521
  • Updated Date : 07/12/2021 at 16:12
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,762 sqft
  • Baths : 3 full
Listing Agent

Opendoor Brokerage Llc

Listing Agent's Description

Built in 2014, this Matthews two-story home offers a patio, granite countertops, and a two-car garage.

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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: Matthews

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Neighborhood: Matthews

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
Matthews Elementary School Primary Regular 1,006 51 7
Crestdale Middle School Middle Regular 868 44 7
Butler High School High Regular 2,081 106 7

Matthews Elementary School

  • Education Level: Primary
  • # of students: 1,006
  • # of teachers: 51
7
GreatSchools Rating

Crestdale Middle School

  • Education Level: Middle
  • # of students: 868
  • # of teachers: 44
7
GreatSchools Rating

Butler High School

  • Education Level: High
  • # of students: 2,081
  • # of teachers: 106
7
GreatSchools Rating
 

$434,700$531,300$483,000

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$1,678
Property Tax -$389
Property Insurance -$79
Property Management Fees -$119
CASH FLOW
-$244

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.

$483,000

PROJECTED PRICE

$2,020

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.5%
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$133,745

INVESTMENT

$133,745

Down Payment
$120,750
Rehab Estimate
$5,750
Closing Costs
$7,245

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,678

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $120,750
Loan Amount $362,250
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$12,014

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,020

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,072

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9003$1,9954$2,0205$2,200
$2,200
RENT COMPS ANALYSIS
  • 5307 Poplar Knoll Drive Matthews, NC 4
    • 5 beds 3 baths ∙ 2,762 Sqft ∙ Built 2014 5 beds 3 baths ∙ 2,762 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $0.73
    •  
  • 7615 Carrington Forest Lane Matthews, NC 1
    • 4 beds 3 baths ∙ 2,620 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,620 Sqft ∙ Built 2007
    LEASED 02/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.72
    •  
  • 1642 Candlewood Ridge Lane Matthews, NC 2
    • 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
    •  
  • 2304 Savannah Hills Drive Matthews, NC 3
    • 4 beds 3 baths ∙ 2,758 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,758 Sqft ∙ Built 2005
    LEASED 01/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.72
    •  
  • 7623 Carrington Forest Lane Matthews, NC 5
    • 4 beds 3 baths ∙ 2,767 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,767 Sqft ∙ Built 2007
    LEASED 04/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.80
    •  
PROPERTY LISTING DETAILS
Verria Hairston
1.704.751.0133
Opendoor Brokerage Llc
BESbswy