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901 Winter Wood Drive Matthews, NC 28105

3 Beds 2 Baths 1,713 sqft Built 1978

$269,900

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $157.56
  • 4 Days on Market
  • MLS # : 3699932
  • Updated Date : 01/23/2021 at 09:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,713 sqft
  • Baths : 2 full
Listing Agent

Allen Tate Providence @485

Listing Agent's Description

This beautiful ranch offers a a beautiful wooded lot, a one car garage, one car carport, & covered walkway to home! Many upgrades are offered for the new homeowner! Roof replaced 2012. Furnace replaced 2019. AC replaced 2014. Kitchen cabinets refaced 2011. Dishwasher 2020. Stove approx 5 years old. Bead board in kitchen. Refrigerator, washer, dryer, & microwave remain! Master bath offers newer toilet, vanity, & lighting. Secondary bathroom vanity replaced. Bathrooms provide tile floors & surrounds. Garage door and sliding door are new. Garage offers heat & AC. Popcorn ceilings removed in all rooms except secondary bedrooms. Wood floors in foyer & hall. Recessed lighting in hall. Family room offers plenty of light w/ vaulted ceiling, skylights with electric shades. Surround sound in family room. Front of home is brick veneer. Both sides of home are fiber cement board, and back is hardboard. MULTIPLE OFFERS RECEIVED. HIGHEST AND BEST OFFER DEADLINE IS 9 PM ON SATURDAY, JAN 23.

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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: Wood Hollow

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $89k318k

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

Neighborhood: Wood Hollow

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8421809

* 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
Crown Point Elementary School Primary Regular 743 40 5
Mint Hill Middle School Middle Regular 1,249 64 5
Butler High School High Regular 2,081 106 7

Crown Point Elementary School

  • Education Level: Primary
  • # of students: 743
  • # of teachers: 40
5
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
 

$242,910$296,890$269,900

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$937
Property Tax -$217
Property Insurance -$59
Property Management Fees -$119
CASH FLOW
$107

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.

$269,900

PROJECTED PRICE

$1,440

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 9.4%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,274

INVESTMENT

$77,274

Down Payment
$67,475
Rehab Estimate
$5,750
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$937

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,475
Loan Amount $202,425
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$26,733

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,495

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,440
1$1,4402$1,4953$1,5154$1,6955$1,695
$1,695
RENT COMPS ANALYSIS
  • 901 Winter Wood Drive Matthews, NC 1
    • 3 beds 2 baths ∙ 1,713 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,713 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.84
    •  
  • 13520 O Malley Drive Matthews, NC 2
    • 3 beds 3 baths ∙ 1,647 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,647 Sqft ∙ Built 1986
    LEASED 10/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.91
    •  
  • 3300 Matthews Mint Hill Road Matthews, NC 3
    • 3 beds 2 baths ∙ 1,795 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,795 Sqft ∙ Built 1967
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,515
    • $0.84
    •  
  • 901 Lightwood Drive Matthews, NC 4
    • 4 beds 2 baths ∙ 1,954 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,954 Sqft ∙ Built 1979
    LEASED 08/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.87
    •  
  • 2839 Oakglade Court Matthews, NC 5
    • 3 beds 3 baths ∙ 1,948 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,948 Sqft ∙ Built 2001
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.87
    •  
PROPERTY LISTING DETAILS
Melissa Taylor
1.704.574.0397
Allen Tate Providence @485
BESbswy