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PROPERTY INFO
FACTS
- Single Family
- Built In 2000
- Price/Sqft : $150.71
- 2 Days on Market
- MLS # : 3682283
- Updated Date : 11/14/2020 at 19:10
CONSTRUCTION
- Beds : 4
- Floor Size : 2,820 sqft
- Baths : 2 full , 1 half
Listing Agent
Mba Real Estate
Listing Agent's Description
A Fantastic 2 Story Home on the Golf Course! Open 2 Story Foyer showing New Red Oak Wood Flooring Downstairs, and Updated Paint Throughout. Terrific Kitchen with Granite Countertops and Beautiful Backsplash, Newly Palinted 42 inch Custom Cabinets, and SS Appliances. Elegant Podiums in Formal Living Room and Great Room. Amazing Coffered Ceiling and Built in Shelves in the Living Room. Crown Molding in Living Room, Dining Room, Great Room and Upstair Hallway. Beautiful Breakfast Area Overlooking a Peaceful Backyard View. Roomy Dining Room with Bay Window. A Double Staircase. 4 Bedrooms upstairs with updated paint and carpet. Large Master Bedroom has a Tray Ceiling and a nice sitting area with Large Walk in Closet. Extra Large Master Bathroom with updated faucets, lighting and paint. 4th Bedroom could also be a bonus room. Cozy Deck off the Kitchen with Private Wooded Backyard overlooing the Divide Golf Course. No Showings until Sunday Nov. 15th
SEE MORE
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Shannamara
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Shannamara
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,270 |
| EXPENSES | Loan Payment | -$1,568 |
| Property Tax | -$282 | |
| Property Insurance | -$80 | |
| HOA | -$36 | |
| Property Management Fees | -$204 | |
|
CASH FLOW
$99
|
||
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.
$425,000
PROJECTED PRICE
$2,270
PROJECTED RENT
0.53%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.48% |
| Appreciation Year (1-5) | 3.8% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.31% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$118,375
LOAN DETAILS
$1,568
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $106,250 |
| Loan Amount | $318,750 |
6.25
YEARS SAVED
$36,241
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,270
LIST RENT -
$0.8
LIST RENT PER SQFT
-
$2,080
COMP ESTIMATED VALUE -
$0.74
COMP AVG. RENT PER SQFT
Comps Range
-
5349 Shannamara Drive Matthews, NC 5
- 4 beds 3 baths ∙ 2,820 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,820 Sqft ∙ Built 2000
- Rent
- Rent Per SQFT
- $2,270
- $0.80
-
6003 Paddle Wheel Lane Indian Trail, NC 1
- 4 beds 3 baths ∙ 2,516 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,516 Sqft ∙ Built 2004
LEASED 09/15/20- Rent
- Rent Per SQFT
- $1,850
- $0.74
-
4204 Lawrence Daniel Drive Matthews, NC 2
- 5 beds 3 baths ∙ 2,504 Sqft ∙ Built 2007 5 beds 3 baths ∙ 2,504 Sqft ∙ Built 2007
LEASED 04/27/20- Rent
- Rent Per SQFT
- $1,875
- $0.75
-
3017 Early Rise Avenue Indian Trail, NC 3
- 4 beds 3 baths ∙ 2,580 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,580 Sqft ∙ Built 2003
LEASED 10/31/19- Rent
- Rent Per SQFT
- $1,895
- $0.73
-
6008 Grassy Knoll Circle Stallings, NC 4
- 5 beds 4 baths ∙ 2,807 Sqft ∙ Built 2009 5 beds 4 baths ∙ 2,807 Sqft ∙ Built 2009
LEASED 08/19/19- Rent
- Rent Per SQFT
- $2,045
- $0.73
PROPERTY LISTING DETAILS
1.704.668.1228
Mba Real Estate
