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9114 Tenby Lane Matthews, NC 28104

4 Beds 4 Baths 3,235 sqft Built 2001

$489,900

List Price

$2,530

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $151.44
  • 9 Days on Market
  • MLS # : 3680458
  • Updated Date : 11/12/2020 at 20:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,235 sqft
  • Baths : 3 full , 1 half
Listing Agent

Holden Realty

Listing Agent's Description

Southern Charm located on the 4th hole of The Divide Golf Course with lots of mature trees in the backyard. This gorgeous Full Brick Home has so many desirable features you will simply love. From the "Rocking Chair" front porch, step into the dramatic foyer and be amazed by the stunning curved staircase. Lots of Hardwood Flooring throughout main level & NEW laminate plank flooring on the second level. Gorgeous kitchen w/Stainless Steel Appliances including Gas Cooktop. Center Island, Butlers Pantry/Wet Bar & Office Niche. Family Room is open to the Kitchen and Breakfast Area. Office/Study w/double doors on the Main level. Formal Dining Room with Heavy Crown Moldings. Spacious Master Suite features a cozy Sitting Room. All Bedrooms have walk in closets and connecting Bathrooms including Jack and Jill & private en suite! Large Deck and Stone Walkway Leads to a Fenced Backyard with Stone Paver Patio and Fire Pit. $2000 Flooring Allowance for refinishing HW on main level.

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
Bain Elementary School Primary Regular 899 49 10
Mint Hill Middle School Middle Regular 1,249 64 5
Independence High School High Regular 2,349 128 6

Bain Elementary School

  • Education Level: Primary
  • # of students: 899
  • # of teachers: 49
10
GreatSchools Rating

Mint Hill Middle School

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

Independence High School

  • Education Level: High
  • # of students: 2,349
  • # of teachers: 128
6
GreatSchools Rating
 

$440,910$538,890$489,900

PURCHASE PRICE

$2,277$2,783$2,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,530
EXPENSES Loan Payment -$1,808
Property Tax -$333
Property Insurance -$88
HOA -$37
Property Management Fees -$228
CASH FLOW
$37

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.

$489,900

PROJECTED PRICE

$2,530

PROJECTED RENT

0.52%

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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$135,574

INVESTMENT

$135,574

Down Payment
$122,475
Rehab Estimate
$5,750
Closing Costs
$7,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,808

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $122,475
Loan Amount $367,425
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$33,993

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,530

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,189

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8803$2,5304$2,850
$2,850
RENT COMPS ANALYSIS
  • 9114 Tenby Lane Matthews, NC 3
    • 4 beds 4 baths ∙ 3,235 Sqft ∙ Built 2001 4 beds 4 baths ∙ 3,235 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,530
    • $0.78
    •  
  • 1022 Breakmaker Lane Indian Trail, NC 1
    • 5 beds 3 baths ∙ 3,026 Sqft ∙ Built 2006 5 beds 3 baths ∙ 3,026 Sqft ∙ Built 2006
    property image
    LEASED 07/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.59
    •  
  • 3004 Stevens Schultz Lane Matthews, NC 2
    • 4 beds 3 baths ∙ 2,988 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,988 Sqft ∙ Built 2005
    property image
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.63
    •  
  • 5711 Turkey Oak Drive Mint Hill, NC 4
    • 4 beds 4 baths ∙ 3,520 Sqft ∙ Built 2007 4 beds 4 baths ∙ 3,520 Sqft ∙ Built 2007
    property image
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.81
    •  
PROPERTY LISTING DETAILS
Lisa Holden
1.704.650.0302
Holden Realty
BESbswy