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1329 Waylon Avenue Gastonia, NC 28054

3 Beds 3 Baths 1,956 sqft Built 2018

$310,000

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $158.49
  • 1 Days on Market
  • MLS # : CAR3761223
  • Updated Date : 07/13/2021 at 04:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,956 sqft
  • Baths : 2 full , 1 half
Listing Agent

Fathom Realty

Listing Agent's Description

There's truly no place like home. Come see this 3 bedroom, 2.5 bathroom home located in the Woodside at Mountain View community. The main level of this home features an inviting foyer, guest bathroom and an open concept family room that leads to the dining area and kitchen with beautiful white cabinetry, granite countertops and black appliances. The upper level of this home features a large master suite with vaulted ceilings, separate sitting area, walk in closet and an ensuite bathroom with separate tub and shower. There's also a laundry room, two additional spacious bedrooms and a hall bathroom. You'll also be impressed with the amount of outdoor space this property has. Relax and enjoy entertaining your family and friends around the fire pit in your fenced in backyard. Schedule your showing today and make this home yours before it's too late. It won't last long!!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 28054

ZipNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $74k213k

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

Zip Code: 28054

ZipNIR Market*CityMarket2010Year20002019 Q270075080085090095010001050110011501200125013001350Rent in $6771375

* 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
Brookside Elementary School Primary Regular 551 34 4
Holbrook Middle School Middle Regular 731 40 6
North Gaston High School High Regular 1,095 60 3

Brookside Elementary School

  • Education Level: Primary
  • # of students: 551
  • # of teachers: 34
4
GreatSchools Rating

Holbrook Middle School

  • Education Level: Middle
  • # of students: 731
  • # of teachers: 40
6
GreatSchools Rating

North Gaston High School

  • Education Level: High
  • # of students: 1,095
  • # of teachers: 60
3
GreatSchools Rating
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$1,077
Property Tax -$239
Property Insurance -$64
HOA -$25
Property Management Fees -$119
CASH FLOW
$187

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.

$310,000

PROJECTED PRICE

$1,710

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.02%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,077

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$34,133

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,672

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5953$1,5994$1,5995$1,710
$1,710
RENT COMPS ANALYSIS
  • 1329 Waylon Avenue Gastonia, NC 5
    • 3 beds 3 baths ∙ 1,956 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,956 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.87
    •  
  • 109 Ranlo Avenue Gastonia, NC 1
    • 3 beds 3 baths ∙ 1,850 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,850 Sqft ∙ Built 2003
    LEASED 05/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.84
    •  
  • 1416 Waylon Avenue Gastonia, NC 2
    • 3 beds 3 baths ∙ 1,915 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,915 Sqft ∙ Built 2016
    LEASED 03/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.83
    •  
  • 820 Joselynn Drive Gastonia, NC 3
    • 4 beds 3 baths ∙ 2,001 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,001 Sqft ∙ Built 2018
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.80
    •  
  • 4239 Everest Drive Gastonia, NC 4
    • 3 beds 3 baths ∙ 1,759 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,759 Sqft ∙ Built 2004
    LEASED 03/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.91
    •  
PROPERTY LISTING DETAILS
Edward Averette
1.704.804.3230
Fathom Realty
BESbswy