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6908 Whitebeam Way Matthews, NC 28105

3 Beds 4 Baths 2,274 sqft Built 2014

$320,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $140.72
  • 7 Days on Market
  • MLS # : 3720220
  • Updated Date : 03/26/2021 at 00:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,274 sqft
  • Baths : 3 full , 1 half
Listing Agent

Allen Tate Southpark

Listing Agent's Description

Not to be missed, this home has 4BR / 3.5BA plus loft area. Covered front porch. Foyer has decorative moldings, coat closet and powder room. Greatroom, kitchen and dining area all open living spaces. Kitchen has laminate wood flooring, granite counters and black appliances plus pantry. Large master suite has walk-in closet and bath with dual vanities. Spacious loft for optional use for play, work or study. Laundry closet with storage shelf. Finished 3rd floor has 4BR that is bonus room size plus a full bath. Rear yard with patio and fencing. You will love the community pool, playground and tennis for only $350/yr. Showings begin Friday 3/26 at 9:00.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Marshbrooke

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300kPrice in $74k305k

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

Neighborhood: Marshbrooke

NeighborhoodNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400150016001700Rent in $6771766

* 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
Piney Grove Elementary School Primary Regular 823 52 4
Mint Hill Middle School Middle Regular 1,249 64 5
Butler High School High Regular 2,081 106 7

Piney Grove Elementary School

  • Education Level: Primary
  • # of students: 823
  • # of teachers: 52
4
GreatSchools Rating

Mint Hill Middle School

  • Education Level: Middle
  • # of students: 1,249
  • # of teachers: 64
5
GreatSchools Rating

Butler High School

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

$288,000$352,000$320,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,111
Property Tax -$295
Property Insurance -$70
HOA -$29
Property Management Fees -$119
CASH FLOW
$175

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.

$320,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 8.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.02%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,111

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

7.75

YEARS SAVED

$32,473

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,870

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7953$1,8004$1,8455$2,150
$2,150
RENT COMPS ANALYSIS
  • 6908 Whitebeam Way Matthews, NC 3
    • 3 beds 4 baths ∙ 2,274 Sqft ∙ Built 2014 3 beds 4 baths ∙ 2,274 Sqft ∙ Built 2014
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.79
    •  
  • 3417 Fairfax Woods Drive Matthews, NC 1
    • 3 beds 2 baths ∙ 2,130 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,130 Sqft ∙ Built 2000
    property image
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.77
    •  
  • 7704 Aragorn Lane Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,230 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,230 Sqft ∙ Built 2007
    property image
    LEASED 03/18/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.80
    •  
  • 9315 Macquarie Lane Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,190 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,190 Sqft ∙ Built 2007
    property image
    LEASED 03/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.84
    •  
  • 2826 Old House Circle Matthews, NC 5
    • 4 beds 3 baths ∙ 2,259 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,259 Sqft ∙ Built 2008
    property image
    LEASED 03/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.95
    •  
PROPERTY LISTING DETAILS
Suzanne Severs
1.704.564.7345
Allen Tate Southpark
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3720220
Last Updated: 03/26/2021
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