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PROPERTY INFO
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
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 28173
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$90,550
LOAN DETAILS
$1,111
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $80,000 |
| Loan Amount | $240,000 |
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
-
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
1.980.213.0202
Exp Realty Llc
