Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

16311 Wavenly House Drive Charlotte, NC 28273

4 Beds 4 Baths 2,934 sqft Built 2019

$363,000

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $123.72
  • 4 Days on Market
  • MLS # : 3682148
  • Updated Date : 11/14/2020 at 00:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,934 sqft
  • Baths : 3 full , 1 half
Listing Agent

Ram Realty Llc

Listing Agent's Description

Don't miss the opportunity to own this beautiful, like new home in popular Chateau neighborhood in Steele Creek! one of the best floor plan Forsyth has everything! 4 bedrooms 3.5 bath and nice bonus room. Spacious open floor plan has study, dining and big family room with fire place. Huge Kitchen, breakfast area. Hardwoods throughout first floor. Front porch and backyard patio with built-in gas grill. Lot of amenities in the neibouhood. Must see. Offer must have pre-approval letter.

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

Neighborhood: Yorkshire

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $103k318k

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

Neighborhood: Yorkshire

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441809

* 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
River Gate Elementary School Primary Regular 828 44 7
Southwest Middle School Middle Regular 1,403 72 6
Math, Engineering, Technology And Science At Olympic High School High Regular 607 28 7

River Gate Elementary School

  • Education Level: Primary
  • # of students: 828
  • # of teachers: 44
7
GreatSchools Rating

Southwest Middle School

  • Education Level: Middle
  • # of students: 1,403
  • # of teachers: 72
6
GreatSchools Rating

Math, Engineering, Technology And Science At Olympic High School

  • Education Level: High
  • # of students: 607
  • # of teachers: 28
7
GreatSchools Rating
 

$326,700$399,300$363,000

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,339
Property Tax -$316
Property Insurance -$82
HOA -$92
Property Management Fees -$169
CASH FLOW
-$119

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$363,000

PROJECTED PRICE

$1,880

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 7.2%
Maintenance Year (1-5) 3.00%
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

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$98,195

INVESTMENT

$98,195

Down Payment
$90,750
Rehab Estimate
$2,000
Closing Costs
$5,445

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,339

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $90,750
Loan Amount $272,250
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$10,833

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $0.64

    LIST RENT PER SQFT
  • $1,870

    COMP ESTIMATED VALUE
  • $0.64

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7953$1,8804$1,9005$1,900
$1,900
RENT COMPS ANALYSIS
  • 16311 Wavenly House Drive Charlotte, NC 3
    • 4 beds 4 baths ∙ 2,934 Sqft ∙ Built 2019 4 beds 4 baths ∙ 2,934 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.64
    •  
  • 12506 Cumberland Cove Drive Charlotte, NC 1
    • 3 beds 3 baths ∙ 2,703 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,703 Sqft ∙ Built 2006
    LEASED 12/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.63
    •  
  • 14516 Brotherly Lane Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,732 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,732 Sqft ∙ Built 2015
    LEASED 01/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.66
    •  
  • 15922 Harbor Hill Drive Charlotte, NC 4
    • 5 beds 5 baths ∙ 2,934 Sqft ∙ Built 2018 5 beds 5 baths ∙ 2,934 Sqft ∙ Built 2018
    LEASED 05/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.65
    •  
  • 15622 Normans Landing Drive Charlotte, NC 5
    • 4 beds 4 baths ∙ 3,105 Sqft ∙ Built 2007 4 beds 4 baths ∙ 3,105 Sqft ∙ Built 2007
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.61
    •  
PROPERTY LISTING DETAILS
Bk Kilaru
1.704.460.4704
Ram Realty Llc
BESbswy