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2013 Oakmere Road Waxhaw, NC 28173

4 Beds 3 Baths 3,314 sqft Built 2011

INVESTimate

$389,900

List Price

$2,100

$1,890 - $2,310

Rent Est.

$409,434  ( +5.01%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2011
  • Price/Sqft : $117.65
  • 7 Days on Market
  • MLS # : 3653012
  • Updated Date : 08/20/2020 at 09:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,314 sqft
  • Baths : 2 full , 1 half
Listing Agent

Zoraida Delgado Payne Real Estate Llc

Listing Agent's Description

If you are looking for a home that checks all of the boxes, you do not want to miss this one!Beautiful 4 BR, 2.5 BA home w/ a private office, LARGE bonus rm, sitting room & a spacious floor plan that has room for everyone. If you are working from home, the sitting room in the master is a great option, while the office could be perfect for the virtual schooling children are required to do this year. Imagine relaxing on this spacious porch as you sip some tea. The main level is welcoming & beautiful with wood flooring & molding. Kitchen is spacious with loads of cabinets & counter space, perfect for family/entertaining. This would be a great kitchen for the holidays. Master is HUGE with his/her separate closets. Premium lot that backs up to woods. On demand water heater too! The amenities are amazing at Millbridge!Sought after schools & a beautiful community make this a great place to call home! This community has it all! Close to downtown Waxhaw, South Carolina & Uptown Charlotte.

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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
Kensington Elementary School Primary Regular 691 42 9
Cuthbertson Middle School Middle Regular 1,132 59 10
Cuthbertson High School High Regular 1,449 69 9

Kensington Elementary School

  • Education Level: Primary
  • # of students: 691
  • # of teachers: 42
9
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
 

$350,910$428,890$389,900

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,439
Property Tax -$299
Property Insurance -$90
HOA -$68
Property Management Fees -$189
CASH FLOW
$16

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.

$389,900

PROJECTED PRICE

$2,100

PROJECTED RENT

0.54%

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$109,074

INVESTMENT

$109,074

Down Payment
$97,475
Rehab Estimate
$5,750
Closing Costs
$5,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,439

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,475
Loan Amount $292,425
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$24,101

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $0.63

    LIST RENT PER SQFT
  • $2,336

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1003$2,1504$2,1955$2,200
$2,200
RENT COMPS ANALYSIS
  • 2013 Oakmere Road Waxhaw, NC 2
    • 4 beds 3 baths ∙ 3,314 Sqft ∙ Built 2011 4 beds 3 baths ∙ 3,314 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.63
    •  
  • 2012 Fallondale Road Waxhaw, NC 1
    • 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
    •  
  • 3005 Fallondale Road Waxhaw, NC 3
    • 4 beds 3 baths ∙ 3,000 Sqft ∙ Built 2012 4 beds 3 baths ∙ 3,000 Sqft ∙ Built 2012
    LEASED 09/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.72
    •  
  • 1013 Silverwood Drive Waxhaw, NC 4
    • 4 beds 3 baths ∙ 3,294 Sqft ∙ Built 2014 4 beds 3 baths ∙ 3,294 Sqft ∙ Built 2014
    LEASED 12/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.67
    •  
  • 2002 Fallondale Road Waxhaw, NC 5
    • 5 beds 3 baths ∙ 3,200 Sqft ∙ Built 2012 5 beds 3 baths ∙ 3,200 Sqft ∙ Built 2012
    LEASED 04/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.69
    •  
PROPERTY LISTING DETAILS
Zoraida Payne
1.704.281.2553
Zoraida Delgado Payne Real Estate Llc
BESbswy