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1032 Brunswick Way Waxhaw, NC 28173

4 Beds 3 Baths 2,649 sqft Built 2018

$389,000

List Price

$2,290

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $146.85
  • 8 Days on Market
  • MLS # : 3715611
  • Updated Date : 03/13/2021 at 11:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,649 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Ballantyne Area

Listing Agent's Description

Remarkable-Pristine Affordable Smart Home that shows like a Model. Floor Plan offers everything you are looking for. Large Front Porch perfect for relaxation. Enter into an Enormous gathering area w/ Hardwoods throughout Main Floor along with Elegant appointed Trim work and Oversized Windows. Eat in Gourmet Kitchen w/ SS Appl.-Double Wall Oven w/Gas Stove. Gorgeous White Cabinets with Subway tiled Backsplash, Iron Handle Draw Pulls-HUGE Island for Gatherings plenty of seating and Counter space. Open to a Attractive Great Rm w/ Cozy Fireplace and Recessed Wall areas for Flex space(built ins or desk space). Dining Area w/Custom Sliding Barn Doors. Attractive Master Down w/Tray Ceiling -Spa Like Bath Custom Tile work and a Spacious Closet. 3 additional large Bedrooms with a Dual Sink and Private Shower. Gigantic Loft area and private Alcove for Office space. Fenced in Flat Backyard- Covered Lanai - Sandstone Walkway Patio w/ Custom Firepit w/Bench- Landscape Lighting - Privacy Trees.

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
Kensington Elementary School Primary Regular 691 42 9
Cuthbertson Middle School Middle Regular 1,132 59 10
Cuthbertson High School High Regular 1,449 69 9

Kensington Elementary School

  • Education Level: Primary
  • # of students: 691
  • # of teachers: 42
9
GreatSchools Rating

Cuthbertson Middle School

  • Education Level: Middle
  • # of students: 1,132
  • # of teachers: 59
10
GreatSchools Rating

Cuthbertson High School

  • Education Level: High
  • # of students: 1,449
  • # of teachers: 69
9
GreatSchools Rating
 

$350,100$427,900$389,000

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$1,351
Property Tax -$298
Property Insurance -$77
HOA -$68
Property Management Fees -$119
CASH FLOW
$377

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.

$389,000

PROJECTED PRICE

$2,290

PROJECTED RENT

0.59%

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$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$108,835

INVESTMENT

$108,835

Down Payment
$97,250
Rehab Estimate
$5,750
Closing Costs
$5,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,351

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,250
Loan Amount $291,750
See What Happens When You Reinvest Cash Flow

10.58

YEARS SAVED

$61,627

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,290

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,298

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,2903$2,2954$2,3505$2,425
$2,425
RENT COMPS ANALYSIS
  • 1032 Brunswick Way Waxhaw, NC 2
    • 4 beds 3 baths ∙ 2,649 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,649 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $0.86
    •  
  • 3024 Fallondale Road Waxhaw, NC 1
    • 4 beds 3 baths ∙ 2,630 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,630 Sqft ∙ Built 2013
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.83
    •  
  • 1006 Kensley Drive Waxhaw, NC 3
    • 4 beds 3 baths ∙ 2,511 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,511 Sqft ∙ Built 2015
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.91
    •  
  • 3201 Bridgewick Road Waxhaw, NC 4
    • 4 beds 3 baths ∙ 2,732 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,732 Sqft ∙ Built 2011
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.86
    •  
  • 4040 Shadowbrook Road Waxhaw, NC 5
    • 5 beds 4 baths ∙ 2,724 Sqft ∙ Built 2019 5 beds 4 baths ∙ 2,724 Sqft ∙ Built 2019
    LEASED 11/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,425
    • $0.89
    •  
PROPERTY LISTING DETAILS
Aly Carlson
1.203.215.1679
Keller Williams Ballantyne Area
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3715611
Last Updated: 03/13/2021
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