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10315 Waxhaw Highway Waxhaw, NC 28173

3 Beds 2 Baths 1,447 sqft Built 1996

$259,900

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $179.61
  • 14 Days on Market
  • MLS # : 3689320
  • Updated Date : 12/19/2020 at 12:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,447 sqft
  • Baths : 2 full
Listing Agent

Allen Tate Ballantyne

Listing Agent's Description

Adorable updated home in the heart of Waxhaw w/lovely antique stores, boutiques & great restaurants! H/W flrs throughout except in BRs. Neutrally repainted interior. DR w/crown molding & chair rail. Repainted white kitchen cabs, track lighting + recessed lights over breakfast area, new hardware & faucet. Vaulted GR w/ HW flrs, propane gas frpl, newer ceiling fan, recessed lighting, new French dr to rear patio. Dbl drs to lrg Master w/ceiling fan, updated master bath w/new tile flrs, tile shower & tub surround, seamless shower dr, dual sink, new hardware, faucet, toilet & light fixtures + spacious walk-in closet. 2 good sized secondary BRs - one w/vaulted ceiling & new fan. Renovated hall bath(2018)w/tile flrs, marble mosaic tub surround, new vanity, marble counter & new light fixture. 2 new 6-panel metal ext drs (1 to garage & 1 fr garage to rear). New vapor barrier & insulation (2020) in crawl + new roof (2011). Partially fenced rear yard. This private gem “in the woods” won’t last!

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

Zip Code: 28173

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $118k399k

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

Zip Code: 28173

ZipNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900200021002200Rent in $8442248

* 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
Waxhaw Elementary School Primary Regular 631 37 4
Parkwood Middle School Middle Regular 965 55 7
Parkwood High School High Regular 1,006 57 5

Waxhaw Elementary School

  • Education Level: Primary
  • # of students: 631
  • # of teachers: 37
4
GreatSchools Rating

Parkwood Middle School

  • Education Level: Middle
  • # of students: 965
  • # of teachers: 55
7
GreatSchools Rating

Parkwood High School

  • Education Level: High
  • # of students: 1,006
  • # of teachers: 57
5
GreatSchools Rating
 

$233,910$285,890$259,900

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$959
Property Tax -$199
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
$158

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.

$259,900

PROJECTED PRICE

$1,490

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.0%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

9.17

YEARS SAVED

$37,479

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,241

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3503$1,3704$1,4905$1,500
$1,500
RENT COMPS ANALYSIS
  • 10315 Waxhaw Highway Waxhaw, NC 4
    • 3 beds 2 baths ∙ 1,447 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,447 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $1.03
    •  
  • 2015 Beckwith Lane Waxhaw, NC 1
    • 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 2005
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.79
    •  
  • 2015 Dunsmore Lane Waxhaw, NC 2
    • 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 2005
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.84
    •  
  • 2032 Dunsmore Lane Waxhaw, NC 3
    • 3 beds 3 baths ∙ 1,520 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,520 Sqft ∙ Built 2005
    property image
    LEASED 08/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $0.90
    •  
  • 10305 Waxhaw Highway Waxhaw, NC 5
    • 3 beds 2 baths ∙ 1,705 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,705 Sqft ∙ Built 2000
    property image
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.88
    •  
PROPERTY LISTING DETAILS
Theresa Alfero
1.704.608.8300
Allen Tate Ballantyne
BESbswy