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1212 Brooksland Place Waxhaw, NC 28173

3 Beds 3 Baths 2,740 sqft Built 2018

$360,000

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $131.39
  • 27 Days on Market
  • MLS # : 3673165
  • Updated Date : 11/11/2020 at 12:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,740 sqft
  • Baths : 2 full , 1 half
Listing Agent

Real Living Carolinas Real Estate

Listing Agent's Description

One of kind, must see in person! Truly move-in ready and upgraded home. This 3 bed, 2 full & 1 half bath, 2 car garage includes many upgrades since the home was built. The Gourmet style kitchen features an abundance of upgraded Quarts Counter top space, large quartz kitchen island, gas cook top, SS hood vent, butler pantry, soft close drawers/doors. Throughout the main level includes recessed speakers, upgraded lights throughout, upgraded flooring. Upgraded lighting thoughout, solid wood stair treads leading to the large loft area on the 2nd floor. The large master suite features a new walk-in shower, frame less glass surround, tiled floor and shower walls; bonus separate niches to keep your shower organized. The upgraded quartz covered double vanity is the ultimate compliment to this modernized master bath. The large walk-in closet with built in organization system giving you additional closet space. Also feat. whole home water filtration system, new irrigation system, aluminum fence.

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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
Western Union Elementary School Primary Regular 660 48 7
Parkwood Middle School Middle Regular 965 55 7
Parkwood High School High Regular 1,006 57 5

Western Union Elementary School

  • Education Level: Primary
  • # of students: 660
  • # of teachers: 48
7
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
 

$324,000$396,000$360,000

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$1,328
Property Tax -$282
Property Insurance -$79
HOA -$63
Property Management Fees -$164
CASH FLOW
-$95

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.

$360,000

PROJECTED PRICE

$1,820

PROJECTED RENT

0.51%

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$101,150

INVESTMENT

$101,150

Down Payment
$90,000
Rehab Estimate
$5,750
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,328

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $90,000
Loan Amount $270,000
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$13,032

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $2,206

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,820
1$1,8202$1,8953$2,1504$2,1955$2,200
$2,200
RENT COMPS ANALYSIS
  • 1212 Brooksland Place Waxhaw, NC 1
    • 3 beds 3 baths ∙ 2,740 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,740 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.66
    •  
  • 2127 Abundance Lane Waxhaw, NC 2
    • 4 beds 3 baths ∙ 2,446 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,446 Sqft ∙ Built 2019
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.77
    •  
  • 2004 Willowcrest Drive Waxhaw, NC 3
    • 4 beds 2 baths ∙ 2,736 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,736 Sqft ∙ Built 2006
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.79
    •  
  • 4511 Sandtyn Drive Waxhaw, NC 4
    • 4 beds 3 baths ∙ 2,605 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,605 Sqft ∙ Built 2005
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.84
    •  
  • 5105 Brynmar Drive Waxhaw, NC 5
    • 4 beds 3 baths ∙ 2,670 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,670 Sqft ∙ Built 2013
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.82
    •  
PROPERTY LISTING DETAILS
Clint Bailey
1.704.618.3015
Real Living Carolinas Real Estate
BESbswy