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5349 Shannamara Drive Matthews, NC 28104

4 Beds 3 Baths 2,820 sqft Built 2000

$425,000

List Price

$2,270

$2K - $2.5K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
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

MARKET HIGHLIGHTS

  • 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

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $118k445k

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

Neighborhood: Shannamara

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200Rent in $8442395

* 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
Stallings Elementary School Primary Regular 576 32 9
Porter Ridge Middle School Middle Regular 1,385 72 7
Porter Ridge High School High Regular 1,591 77 7

Stallings Elementary School

  • Education Level: Primary
  • # of students: 576
  • # of teachers: 32
9
GreatSchools Rating

Porter Ridge Middle School

  • Education Level: Middle
  • # of students: 1,385
  • # of teachers: 72
7
GreatSchools Rating

Porter Ridge High School

  • Education Level: High
  • # of students: 1,591
  • # of teachers: 77
7
GreatSchools Rating
 

$382,500$467,500$425,000

PURCHASE PRICE

$2,043$2,497$2,270

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,568

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

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
$1,850
1$1,8502$1,8753$1,8954$2,0455$2,270
$2,270
RENT COMPS ANALYSIS
  • 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
Melony Banks
1.704.668.1228
Mba Real Estate
BESbswy