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17019 Winged Oak Way Davidson, NC 28036

4 Beds 3 Baths 2,896 sqft Built 1998

$499,000

List Price

$2,460

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $172.31
  • 4 Days on Market
  • MLS # : 3704454
  • Updated Date : 02/13/2021 at 22:45
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,896 sqft
  • Baths : 3 full
Listing Agent

Carolina Realty Solutions

Listing Agent's Description

Beautiful, updated River Run home on fenced corner lot. Incredible floor plan with nearly 3,000 feet of living space plus an oversized deck with private backyard. Gourmet kitchen with granite countertops and stylish fixtures, stainless appliances, tile backsplash, and an island with seating. Open floor plan and tons of light, and a peaceful deck with morning sun and afternoon shade. Airy office and dining room with hardwoods, plus a guest bedroom and full bathroom on the first floor. Upstairs, find a huge master with walk-in closet, two additional bedrooms, laundry room, and a fantastic bonus room (could be easily used as a fifth bedroom!) with a shelved closet. Convenient to everything, and the absolute best buy in Davidson!

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: River Run Country Club

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650kPrice in $118k678k

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

Neighborhood: River Run Country Club

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400260028003000Rent in $8443105

* 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
Bailey Middle School Middle Regular 1,616 77 9
William Amos Hough High School High Regular 2,453 120 8
Bailey Middle School Middle Unknown NA

Bailey Middle School

  • Education Level: Middle
  • # of students: 1,616
  • # of teachers: 77
9
GreatSchools Rating

William Amos Hough High School

  • Education Level: High
  • # of students: 2,453
  • # of teachers: 120
8
GreatSchools Rating

Bailey Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$449,100$548,900$499,000

PURCHASE PRICE

$2,214$2,706$2,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,460
EXPENSES Loan Payment -$1,733
Property Tax -$431
Property Insurance -$82
HOA -$63
Property Management Fees -$119
CASH FLOW
$33

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.

$499,000

PROJECTED PRICE

$2,460

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 2.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.36%
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

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$137,985

INVESTMENT

$137,985

Down Payment
$124,750
Rehab Estimate
$5,750
Closing Costs
$7,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,733

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,750
Loan Amount $374,250
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$34,835

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,460

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,657

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,4603$2,4954$2,8505$3,200
$3,200
RENT COMPS ANALYSIS
  • 17019 Winged Oak Way Davidson, NC 2
    • 4 beds 3 baths ∙ 2,896 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,896 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,460
    • $0.85
    •  
  • 11611 Terrill Ridge Drive Davidson, NC 1
    • 3 beds 3 baths ∙ 2,713 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,713 Sqft ∙ Built 1994
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.85
    •  
  • 17228 Shearer Road Davidson, NC 3
    • 5 beds 3 baths ∙ 2,716 Sqft ∙ Built 2020 5 beds 3 baths ∙ 2,716 Sqft ∙ Built 2020
    LEASED 11/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.92
    •  
  • 18604 Dembridge Drive Sw Davidson, NC 4
    • 4 beds 3 baths ∙ 3,176 Sqft ∙ Built 1996 4 beds 3 baths ∙ 3,176 Sqft ∙ Built 1996
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.90
    •  
  • 17208 Royal Court Drive Davidson, NC 5
    • 5 beds 3 baths ∙ 3,106 Sqft ∙ Built 1997 5 beds 3 baths ∙ 3,106 Sqft ∙ Built 1997
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.03
    •  
PROPERTY LISTING DETAILS
Max Morrison
1.704.233.7000
Carolina Realty Solutions
BESbswy