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1609 Ambergate Drive Waxhaw, NC 28173

6 Beds 4 Baths 3,805 sqft Built 2001

$450,000

List Price

$2,570

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $118.27
  • 7 Days on Market
  • MLS # : 3695799
  • Updated Date : 01/22/2021 at 00:05
CONSTRUCTION
  • Beds : 6
  • Floor Size : 3,805 sqft
  • Baths : 3 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Beautiful move in ready home tucked back in the community of Stonegate. This well cared for home has so many great features! Oversized kitchen with island is a great place for cooking. Plenty of cabinet and counter space. A breakfast area for a cozy meal or a formal dining area for larger gatherings. An additional room is being used as a music room plus the main floor also features an office/play room located off the kitchen area. Enjoy lounging by the gas fireplace in the family room reading a good book in the winter or relaxing on the patio of the fenced in backyard in the warmer months. Easy access to neighborhood walking trails. This home has an abundance of natural light throughout. Five bedrooms are located upstairs including a grand master suite/bath. Sixth bedroom is being used as a bonus room where movie night can be the main event. Located near Wesley Chapel shopping and dining this home is waiting for the next owner to call it their own. Hurry!!! Will go quick!

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
New Town Elementary School Primary Regular 1,001 53 10
Cuthbertson Middle School Middle Regular 1,132 59 10
Cuthbertson High School High Regular 1,449 69 9

New Town Elementary School

  • Education Level: Primary
  • # of students: 1,001
  • # of teachers: 53
10
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
 

$405,000$495,000$450,000

PURCHASE PRICE

$2,313$2,827$2,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,570
EXPENSES Loan Payment -$1,563
Property Tax -$345
Property Insurance -$99
HOA -$64
Property Management Fees -$119
CASH FLOW
$380

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.

$450,000

PROJECTED PRICE

$2,570

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$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

10

YEARS SAVED

$65,322

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,570

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $2,759

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,3953$2,5704$2,6005$3,100
$3,100
RENT COMPS ANALYSIS
  • 1609 Ambergate Drive Waxhaw, NC 3
    • 6 beds 4 baths ∙ 3,805 Sqft ∙ Built 2001 6 beds 4 baths ∙ 3,805 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,570
    • $0.68
    •  
  • 3013 Sewee Lane Waxhaw, NC 1
    • 5 beds 5 baths ∙ 3,481 Sqft ∙ Built 2013 5 beds 5 baths ∙ 3,481 Sqft ∙ Built 2013
    property image
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.66
    •  
  • 1704 Crestgate Drive Waxhaw, NC 2
    • 5 beds 3 baths ∙ 3,481 Sqft ∙ Built 2000 5 beds 3 baths ∙ 3,481 Sqft ∙ Built 2000
    property image
    LEASED 04/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.69
    •  
  • 1217 Brough Hall Drive Waxhaw, NC 4
    • 5 beds 3 baths ∙ 3,546 Sqft ∙ Built 2017 5 beds 3 baths ∙ 3,546 Sqft ∙ Built 2017
    property image
    LEASED 09/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.73
    •  
  • 4320 Oxford Mill Road Waxhaw, NC 5
    • 5 beds 5 baths ∙ 3,905 Sqft ∙ Built 2014 5 beds 5 baths ∙ 3,905 Sqft ∙ Built 2014
    property image
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $0.79
    •  
PROPERTY LISTING DETAILS
Betsy King
1.704.575.6417
Coldwell Banker Realty
BESbswy