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5323 Poplar Knoll Drive Matthews, NC 28105

4 Beds 4 Baths 2,542 sqft Built 2008

$420,000

List Price

$2,070

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $165.22
  • 5 Days on Market
  • MLS # : 3710543
  • Updated Date : 02/26/2021 at 17:27
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,542 sqft
  • Baths : 3 full , 1 half
Listing Agent

Allen Tate Southpark

Listing Agent's Description

Meticulously maintained full brick home w split bdrm plan.Covered front porch welcomes you into this lovely home.Foyer gives amazing view of the great rm w 12’ ceilings, transom windows, fireplace w brick surround & raised hearth.Flanking foyer is open living room perfect as office or sitting room & open dining room w plenty of space to entertain.Well appointed kitchen has granite countertops, s/s appliances & 5-burner gas range.Breakfast nook looks upon beautifully landscaped backyard with access to paver patio.Owner’s suite has oversized bdrm w tray ceiling & bay window, spacious bathroom w vaulted ceiling, dual sinks, garden tub & large walk-in closet.Generous main floor guest bdrms share full bath w walk-in shower and bench seat. 2nd floor has addl guest bedroom w walk-in closet & full bath. Walk-in attic access provides addl storage. Crown molding in main living areas w chair and picture frame molding in LR & DR. Pristine oak flooring, dual Trane HVAC units, can lighting & more!

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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
 

$378,000$462,000$420,000

PURCHASE PRICE

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$1,459
Property Tax -$364
Property Insurance -$75
HOA -$150
Property Management Fees -$119
CASH FLOW
-$97

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.

$420,000

PROJECTED PRICE

$2,070

PROJECTED RENT

0.49%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,050

INVESTMENT

$117,050

Down Payment
$105,000
Rehab Estimate
$5,750
Closing Costs
$6,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,459

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $105,000
Loan Amount $315,000
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$16,332

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,070

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,129

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9953$2,0704$2,2005$2,300
$2,300
RENT COMPS ANALYSIS
  • 5323 Poplar Knoll Drive Matthews, NC 3
    • 4 beds 4 baths ∙ 2,542 Sqft ∙ Built 2008 4 beds 4 baths ∙ 2,542 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $0.81
    •  
  • 1642 Candlewood Ridge Lane Matthews, NC 1
    • 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
    •  
  • 6020 Hampstead Pond Lane Matthews, NC 2
    • 4 beds 4 baths ∙ 2,303 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,303 Sqft ∙ Built 2020
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.87
    •  
  • 7623 Carrington Forest Lane Matthews, NC 4
    • 4 beds 3 baths ∙ 2,767 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,767 Sqft ∙ Built 2007
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.80
    •  
  • 6122 Hampstead Pond Lane Matthews, NC 5
    • 4 beds 4 baths ∙ 2,498 Sqft ∙ Built 2021 4 beds 4 baths ∙ 2,498 Sqft ∙ Built 2021
    LEASED 01/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.92
    •  
PROPERTY LISTING DETAILS
Tracy Brener
1.704.516.7048
Allen Tate Southpark
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3710543
Last Updated: 02/26/2021
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