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1819 Sutter Creek Drive Waxhaw, NC 28173

5 Beds 4 Baths 3,325 sqft Built 2017

$489,000

List Price

$2,260

$2K - $2.5K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $147.07
  • 4 Days on Market
  • MLS # : 3699898
  • Updated Date : 01/22/2021 at 18:06
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,325 sqft
  • Baths : 3 full , 1 half
Listing Agent

Coastal Green Properties Inc

Listing Agent's Description

Immaculately maintained home in the desired neighborhood of Tuscany. House features beautiful added touches such as custom paint, faux shiplap, wainscoting and crown molding. The Open floor plan leads you into kitchen with a large granite island, tile backsplash, custom cabinets with roll out shelves and abundance of cabinet and counter space. Also you will see large living area with great natural light, and separate dining area that leads you out to your fenced backyard and covered porch Upstairs you will find 5 additional bedrooms. Owners suite has tray ceilings, large soaking tub and dual vanities. Walk in shower with bench and Large dual walk in closets, along with a private toilet area. 4 additional bedrooms one with an ensuite, loft and walk in laundry finish out the second floor. The finished two-car garage has a utility sink, built in cabinets and shelves. This home wont last long, schedule your showing today.

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: Tuscany

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $118k399k

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

Neighborhood: Tuscany

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
Wesley Chapel Elementary School Primary Regular 550 30 7
Cuthbertson Middle School Middle Regular 1,132 59 10
Cuthbertson High School High Regular 1,449 69 9

Wesley Chapel Elementary School

  • Education Level: Primary
  • # of students: 550
  • # of teachers: 30
7
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
 

$440,100$537,900$489,000

PURCHASE PRICE

$2,034$2,486$2,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,260
EXPENSES Loan Payment -$1,698
Property Tax -$375
Property Insurance -$90
Property Management Fees -$119
CASH FLOW
-$22

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.

$489,000

PROJECTED PRICE

$2,260

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 3.0%
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

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$135,335

INVESTMENT

$135,335

Down Payment
$122,250
Rehab Estimate
$5,750
Closing Costs
$7,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,698

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $122,250
Loan Amount $366,750
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$28,342

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,260

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $2,352

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$2,145
1$2,1452$2,2003$2,2604$2,3505$2,395
$2,395
RENT COMPS ANALYSIS
  • 1819 Sutter Creek Drive Waxhaw, NC 3
    • 5 beds 4 baths ∙ 3,325 Sqft ∙ Built 2017 5 beds 4 baths ∙ 3,325 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,260
    • $0.68
    •  
  • 1715 Hoosac Drive Waxhaw, NC 1
    • 4 beds 3 baths ∙ 3,140 Sqft ∙ Built 2010 4 beds 3 baths ∙ 3,140 Sqft ∙ Built 2010
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,145
    • $0.68
    •  
  • 5608 Coulee Court Waxhaw, NC 2
    • 5 beds 4 baths ∙ 3,092 Sqft ∙ Built 2016 5 beds 4 baths ∙ 3,092 Sqft ∙ Built 2016
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.71
    •  
  • 3911 Voltaire Drive Wesley Chapel, NC 4
    • 4 beds 4 baths ∙ 3,323 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,323 Sqft ∙ Built 2005
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.71
    •  
  • 1206 Brooksland Place Waxhaw, NC 5
    • 5 beds 4 baths ∙ 3,377 Sqft ∙ Built 2017 5 beds 4 baths ∙ 3,377 Sqft ∙ Built 2017
    LEASED 08/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.71
    •  
PROPERTY LISTING DETAILS
Jessica Jordan
1.704.607.5806
Coastal Green Properties Inc
BESbswy