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2009 Dunsmore Lane Waxhaw, NC 28173

4 Beds 3 Baths 2,260 sqft Built 2005

INVESTimate

$245,000

List Price

$1,520

$1,368 - $1,672

Rent Est.

$257,275  ( +5.01%)   1 YR EST. FORECAST

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $108.41
  • 7 Days on Market
  • MLS # : 3653579
  • Updated Date : 08/20/2020 at 15:59
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,260 sqft
  • Baths : 2 full , 1 half
Listing Agent

Eric J Dorer Real Estate

Listing Agent's Description

ATTENTION INVESTORS and those looking for a great deal on a Waxhaw home! This is a large 4BR/2.5 Bath home in Harrison Park, near shopping, entertainment and within a reasonable commute of Charlotte; lower Union County taxes; Large kitchen, huge pantry and storage area; 2nd floor laundry; attached garage. DO NOT DISTURB TENANT. This home is tenant occupied until March 31, 2021. Showings will only be approved after an offer has been negotiated and agreed, subject to buyer inspection of the property, of course. (The photo is from when the seller acquired the property. New photos will be added to the listing.)

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
Waxhaw Elementary School Primary Regular 631 37 4
Parkwood Middle School Middle Regular 965 55 7
Parkwood High School High Regular 1,006 57 5

Waxhaw Elementary School

  • Education Level: Primary
  • # of students: 631
  • # of teachers: 37
4
GreatSchools Rating

Parkwood Middle School

  • Education Level: Middle
  • # of students: 965
  • # of teachers: 55
7
GreatSchools Rating

Parkwood High School

  • Education Level: High
  • # of students: 1,006
  • # of teachers: 57
5
GreatSchools Rating
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$904
Property Tax -$188
Property Insurance -$70
HOA -$25
Property Management Fees -$137
CASH FLOW
$197

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.

$245,000

PROJECTED PRICE

$1,520

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.01%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

8.75

YEARS SAVED

$35,042

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $1,605

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,520
1$1,5202$1,5253$1,5754$1,5955$1,695
$1,695
RENT COMPS ANALYSIS
  • 2009 Dunsmore Lane Waxhaw, NC 1
    • 4 beds 3 baths ∙ 2,260 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,260 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.67
    •  
  • 1914 Dunsmore Lane Waxhaw, NC 2
    • 3 beds 3 baths ∙ 2,382 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,382 Sqft ∙ Built 2005
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.64
    •  
  • 3709 Bentley Place Waxhaw, NC 3
    • 4 beds 3 baths ∙ 2,072 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,072 Sqft ∙ Built 1997
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.76
    •  
  • 1967 Trace Creek Drive Waxhaw, NC 4
    • 4 beds 3 baths ∙ 2,347 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,347 Sqft ∙ Built 2005
    LEASED 09/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.68
    •  
  • 8305 Stone Crest Drive Waxhaw, NC 5
    • 4 beds 3 baths ∙ 2,216 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,216 Sqft ∙ Built 2006
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.76
    •  
PROPERTY LISTING DETAILS
Eric Dorer
1.980.875.0950
Eric J Dorer Real Estate
BESbswy