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2108 Thorn Crest Drive Waxhaw, NC 28173

3 Beds 3 Baths 2,070 sqft Built 2002

$296,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $143.00
  • 4 Days on Market
  • MLS # : 3708014
  • Updated Date : 02/12/2021 at 00:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,070 sqft
  • Baths : 2 full , 1 half
Listing Agent

Carolinas International Realty

Listing Agent's Description

Absolutely beautiful house in downtown Waxhaw, right off Providence Rd. , easy access to all shopping and dining, 485 and Weddington, wonderful family neighborhood , prime schools ,hard to find master down, two bedrooms and bonus room up, tastefully remodeled, immaculate condition, truly must see!

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
 

$266,400$325,600$296,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$1,028
Property Tax -$227
Property Insurance -$66
HOA -$26
Property Management Fees -$119
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.

$296,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.49%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,190

INVESTMENT

$84,190

Down Payment
$74,000
Rehab Estimate
$5,750
Closing Costs
$4,440

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,028

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,000
Loan Amount $222,000
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$16,886

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,615

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4503$1,4504$1,5755$1,695
$1,695
RENT COMPS ANALYSIS
  • 2108 Thorn Crest Drive Waxhaw, NC 3
    • 3 beds 3 baths ∙ 2,070 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,070 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.70
    •  
  • 2043 Dunsmore Lane Waxhaw, NC 1
    • 3 beds 3 baths ∙ 1,896 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,896 Sqft ∙ Built 2005
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.74
    •  
  • 2038 Dunsmore Lane Waxhaw, NC 2
    • 3 beds 3 baths ∙ 2,056 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,056 Sqft ∙ Built 2004
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.71
    •  
  • 3709 Bentley Place Waxhaw, NC 4
    • 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
    •  
  • 4002 Garfield Court Waxhaw, NC 5
    • 4 beds 3 baths ∙ 1,870 Sqft ∙ Built 2002 4 beds 3 baths ∙ 1,870 Sqft ∙ Built 2002
    LEASED 05/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.91
    •  
PROPERTY LISTING DETAILS
Tatyana Zalinov
1.704.258.8228
Carolinas International Realty
BESbswy