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103 Rainbow Falls Lane

103 Rainbow Falls Lane, Matthews, NC 28104
House in Union
Sold Jun 01, 2020
$776,000
$773,500 by Angel Oak Home Loans Llc
Mortgage Due Apr 01, 2051
Sold May 03, 2017
$746,000
$172,000 by First Citizens Bank & Trust Co
Mortgage
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103 Rainbow Falls Lane has been categorized by the local assessors in Matthews, NC as a residential type of property. The building on the property was first built in 2017 and is 7 years old. The home has a total of 8 rooms. 6 of these rooms are legally considered as bedrooms. Residents will have access to 5 full bathrooms. There are 6 partial bathrooms in the home. The building has a total of 2 stories. In addition, 103 Rainbow Falls Lane has 4,929 sqft of living area. The living area typically only takes into consideration the heated or air conditioned part of the building. The area measurement of the land has been determined as 17,511 square feet.

Want to learn more? We've sourced additional information from the local assessor's office that we've shared on this page with you. For the features and amenities located on the property. There is a attached garage for those who require parking. The garage measured 856 sqft. Residents will have the luxury of enjoying a open porch. Moving on to the building itself. The condition of the building has been evaluated as average. Along the lines of building condition, did you know that weather changes can cause buildings to move? It may sound alarming, but thats why the type of control joints used in the construction of your home is extremely important. Architects often have to plan these out well in advance to ensure the longevity of the building. Therefore, as part of your consideration, you should note that the home was built with wood control joints. From what we've gathered, the quality of these control joints have been graded with a letter grade of B+ by the local assessor. The building has a gable style roof. The inside of the home is being cooled with central air conditioning at the moment. In terms of heating, it is utilizing a forced air unit. There is a single fireplace in the home. Perfect for those wintery nights. Here at RealtyHop, we've focused a lot of our efforts into gathering up-to-date and accurate data for our users. Based on our sources, 103 Rainbow Falls Lane was last sold in Jun 1, 2020 for $776,000. According to our calculations, that's $157.44 per sqft. Prior to that sales transaction, the property was sold for $746,000 in Apr 18, 2017. Current property owners are expected to pay $5,188 in taxes per year. The property on 103 Rainbow Falls Lane was last assessed in 2023. As a result of that assessment, the total value of the property was placed at $819,600. To break that down further, the land itself was valued at $136,000. While improvements to the property were assessed at a total of $683,600. Based on our records, the total market value for this property has been marked the same as the total assessed value as of this moment. Which is nothing out of the ordinary. Speaking of costs, many buyers and sellers often forget to take into consideration the closing costs they may occur. Closing costs can stem from anything mortgage or property related to fees related to your property title. As you'll soon learn from our guide, fees can quickly add up hence why as a rule of thumb, we typically recommend setting aside at least 5% of the purchase price to cover potential closing costs. Don't worry, any additional you save up can always go towards your principal. Better safe than sorry!This property is not listed for sale at this point in time but RealtyHop is constantly updating our inventory of available sales listings in real time. Don't want to miss out on this property? You can save the listing to your favorites by signing up for a RealtyHop account or you can check back frequently for updates.

Building Features

Exterior

Brick Exterior Stone Exterior

Parking

Attached Garage Open Parking
This property description is generated based on publicly available data.

Building Info

Overview

    General

  • Year Built: 2017
  • Effective Year Built: 2017
  • Total Rooms: 8
  • Bedroom Count: 6
  • Bathroom Count: 6
  • Full Bathrooms: 5
  • Partial Bathrooms: 6
  • Building Condition: Average
  • Building Quality: B+
  • Construction Type: Wood
  • Roof Shape Type: Gable
  • Floor Count: 2
  • Basement Area: 0
  • Garage Type: Attached
  • Garage Square Area: 856
  • Parking Space Count: 0
  • Porch Type: Open porch

    Dimensions

  • Lot Size Square Feet: 17,511
  • Total Building Area: 4,929
  • Building Area: 4,929
  • Building Area Measurement: Living Area

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: Central air conditioning
  • Heating: Forced air unit
  • Heated Square Feet: 4,929
  • Heating Fuel Type: unknown

    Utilities

  • Sewer System: unknown
  • Water Service: unknown

Building

  • Property Class: Residential
  • Subdivision: THE FALLS @ WEDDINGTON
  • Land Acres: 0.402
  • Standard Land Use Code: Rural/agricultural residence
  • Legal Description 1: #159 THE FALLS @ WEDDINGT

Ownership

  • Current Owner : SUSSMAN DAVID MICHAEL
  • Current Owner 2: SUSSMAN LILIAM MARIA
  • Previous Owner : PAPATZANAKIS MELISSA MERK
  • Previous Owner 2: PAPATZANAKIS ALEXANDER
  • Owner Before Previous Owner: TAYLOR MORRISON OF CAROLINAS INC
  • Is Owner Occupied: Owner-occupied property
  • Ownership Rights Codes: Trustee/Conservator

Neighborhood

  • School District Name: Union County Public Schools
  • Census Tract: 021019

Zoning

  • Zoning: RCD WEDDIN

Geography

  • District: 6
  • Parcel: 06-093-192
  • Municipality: SANDY RIDGE TWP
  • Latitude: 35.0411
  • Longitude: -80.7193

    Address

  • Full Address: 103 Rainbow Falls Ln
  • Address - House Number: 103
  • Address - Street Name: Rainbow Falls
  • Address - Suffix Type: Ln
  • State: NC
  • City Name: Matthews
  • Carrier Code: R055
  • 4-Digit Zip Code: 0024
  • Zip Code: 28104

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $5,188
  • Tax Rate Code Area: 830

    Appraisal Valuation

  • Standard Deviation: 0.1556
  • Valuation Date: Nov 15, 2023
  • Confidence Score: 80
  • Final Value: 1,205,854
  • High Value: 1,393,599
  • Low Value: 1,018,109

    Open Liens

  • Total Open Liens: 1
  • Total Open Liens Amount: $773,500
  • First Open Lien Mortgage Lender: ANGEL OAK HOME LOANS LLC
  • First Open Lien Mortgage Recording Date: Mar 10, 2021
  • First Open Lien Mortgage Loan Amount: $773,500
  • First Open Lien Mortgage Term: 360
  • First Open Lien Mortgage Position: 1
  • First Open Lien Mortgage Loan Type: VA
  • First Open Lien Mortgage Loan Due Date: Apr 01, 2051

    Market Valuation

  • Market Total Value: $819,600
  • Market Land Value: $136,000
  • Market Improvement Value: $683,600

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $819,600
  • Assessed Land Value: $136,000
  • Assessed Improvements Value: $683,600

    Sales

  • Current Sale Contract Date: Jun 01, 2020
  • Current Sale Recording Date: Jun 01, 2020
  • Current Sale Transaction ID: 11766941903
  • Current Sale Price: $776,000
  • Current Sale Document Type: Warranty Deed
  • Current Sale Input Document Number: 19191
  • Previous Sale Recording Date: May 03, 2017
  • Previous Sale Contract Date: Apr 18, 2017
  • Previous Sale Amount: $746,000
  • Previous Sale Document Type: Warranty Deed

    Last Sale Mortgage

  • First Mortgage Lender: ANGEL OAK HOME LOANS LLC
  • First Mortgage Transaction Date: Jun 01, 2020
  • First Mortgage Loan Amount: $776,000
  • First Mortgage Terms: 360
  • First Mortgage Loan Type: VA
  • First Mortgage Loan Due Date: Jul 01, 2050

    Previous Mortgages

  • Previous Mortgage Lender: FIRST CITIZENS BANK & TRUST CO
  • Previous Mortgage Transaction Date: May 03, 2017
  • Previous Mortgage Financing Type: Variable
  • Previous Mortgage Loan Amount: $172,000
  • Previous Mortgage Term: 360
  • Previous Mortgage Loan Type: Credit Line (Revolving)

About Weddington



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Frequently Asked Questions

What neighborhood is 103 Rainbow Falls Lane located in?
The 103 Rainbow Falls Lane is a house located in the neighborhood of Union in Weddington, Matthews.
What is the average sales price for listings in 103 Rainbow Falls Lane?
The average sales price for units in 103 Rainbow Falls Lane is $0 currently.

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