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2012 White Cedar Lane Waxhaw, NC 28173

5 Beds 3 Baths 3,148 sqft Built 2005

$320,000

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $101.65
  • 3 Days on Market
  • MLS # : 3708049
  • Updated Date : 02/13/2021 at 08:43
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,148 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty Llc

Listing Agent's Description

Big, beautiful home near downtown Waxhaw! 5 bedrooms with an additional upstairs bonus/family room with its own fireplace and two closets (could be used as 6th bedroom!). Inviting 2-story foyer, filled with natural light. No carpet anywhere in this wonderful home - hardwoods on main level and upstairs, with tile in the master bathroom. One bedroom on main level could be used as an office. Kitchen opens to family room with cozy, wood-burning fireplace (Yes, a fireplace on both floors!). Separate dining room as well as living room. 4 additional bedrooms upstairs, including master bed/bath, and one additional full bath. Nice, big lot (almost a half acre!) with beautiful woods in the back. Open lot next door gives added privacy. Come see this for yourself, before it's gone!

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
Cuthbertson Middle School Middle Regular 1,132 59 10
Cuthbertson High School High Regular 1,449 69 9

Waxhaw Elementary School

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

$288,000$352,000$320,000

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,111
Property Tax -$246
Property Insurance -$86
HOA -$25
Property Management Fees -$119
CASH FLOW
$613

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.

$320,000

PROJECTED PRICE

$2,200

PROJECTED RENT

0.69%

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

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$1,111

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

14.42

YEARS SAVED

$75,405

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $2,164

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8953$2,1004$2,2005$2,495
$2,495
RENT COMPS ANALYSIS
  • 2012 White Cedar Lane Waxhaw, NC 4
    • 5 beds 3 baths ∙ 3,148 Sqft ∙ Built 2005 5 beds 3 baths ∙ 3,148 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.70
    •  
  • 2069 White Cedar Lane Waxhaw, NC 1
    • 4 beds 3 baths ∙ 3,000 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,000 Sqft ∙ Built 2005
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.60
    •  
  • 2064 White Cedar Lane Waxhaw, NC 2
    • 4 beds 3 baths ∙ 2,924 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,924 Sqft ∙ Built 2005
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.65
    •  
  • 2012 Fallondale Road Waxhaw, NC 3
    • 5 beds 3 baths ∙ 3,130 Sqft ∙ Built 2012 5 beds 3 baths ∙ 3,130 Sqft ∙ Built 2012
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.67
    •  
  • 4610 Crewe Hall Lane Waxhaw, NC 5
    • 4 beds 4 baths ∙ 3,184 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,184 Sqft ∙ Built 2006
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.78
    •  
PROPERTY LISTING DETAILS
Luke Surak
1.980.213.0202
Exp Realty Llc
BESbswy