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9217 Tenby Lane Matthews, NC 28104

5 Beds 3 Baths 2,863 sqft Built 2003

INVESTimate

$425,000

List Price

$2,190

$1,971 - $2,409

Rent Est.

$441,108  ( +3.79%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $148.45
  • 5 Days on Market
  • MLS # : 3654501
  • Updated Date : 08/23/2020 at 11:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,863 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Ballantyne Area

Listing Agent's Description

Full Brick Home on Golf Course, in Shannamara! This lovely home has open floor plan, gorgeous wood floors & new paint throughout home. Two story, foyer with large flex room that could be a private office, sitting room. Formal dining room has wainscoting and octagonal trey ceiling. Large, 2-story, great room with fireplace is open to kitchen & breakfast room. Kitchen has light Corian countertops, newer SS refrigerator & Breakfast bar. Also, on the main, is a full bathroom w/new vanity, sink, mirror & lighting located next to a guest bedroom. Upstairs are 3 generous secondary bedrooms & a hall bathroom, w/two sinks & tub/shower combo. The master suite has a deep trey ceiling. Spacious Master bathroom has two large walk-in closets, oversized shower, deep soaking tub and two separate, large vanities. Outside is a screened porch w/E-Z Breeze windows, deck & stone patio with wall for seating! Tankless hot water-2019! Fenced yard backs to the golf course! Great location & Union Co Schls!

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
 

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

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

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-$5.0k$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$1,568
Property Tax -$369
Property Insurance -$81
HOA -$37
Property Management Fees -$197
CASH FLOW
-$62

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

$2,190

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 3.79%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
Length of Stay Years 2

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 50% 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

4.08

YEARS SAVED

$19,556

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,190

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,140

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7553$2,1904$2,2505$2,295
$2,295
RENT COMPS ANALYSIS
  • 9217 Tenby Lane Matthews, NC 3
    • 5 beds 3 baths ∙ 2,863 Sqft ∙ Built 2003 5 beds 3 baths ∙ 2,863 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $0.76
    •  
  • 1255 Hawthorne Drive Indian Trail, NC 1
    • 4 beds 3 baths ∙ 2,619 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,619 Sqft ∙ Built 1993
    LEASED 04/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.65
    •  
  • 5000 Lazy Day Lane Indian Trail, NC 2
    • 4 beds 3 baths ∙ 2,536 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,536 Sqft ∙ Built 2007
    LEASED 04/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,755
    • $0.69
    •  
  • 8109 Glamorgan Lane Matthews, NC 4
    • 4 beds 3 baths ∙ 2,642 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,642 Sqft ∙ Built 1999
    LEASED 06/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.85
    •  
  • 5217 Shannamara Drive Matthews, NC 5
    • 5 beds 3 baths ∙ 3,135 Sqft ∙ Built 2000 5 beds 3 baths ∙ 3,135 Sqft ∙ Built 2000
    LEASED 03/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.73
    •  
PROPERTY LISTING DETAILS
Wendy Richards
1.704.604.6115
Keller Williams Ballantyne Area
BESbswy