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216 Maywood Path Waxhaw, NC 28173

4 Beds 3 Baths 1,953 sqft Built 2000

$294,500

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $150.79
  • 3 Days on Market
  • MLS # : 3681191
  • Updated Date : 11/14/2020 at 13:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,953 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams South Park

Listing Agent's Description

Rarely available home in Southbrook, on over half an acre! Walk in to a soaring two-story foyer, open floor plan with dining area and family room with fireplace. Owner's suite conveniently located on first floor, with 3 large freshly painted bedrooms upstairs. Owner's bathroom on first floor features separate garden tub and shower and large closet. New carpet on 2nd floor and Owner's suite, laminate flooring on first floor installed 2019. This home also features a beautiful expanded patio and pergola to relax and enjoy the view. Best of all, there is No HOA fees to pay! Just a few minutes to downtown Waxhaw, do not miss this one!!

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
 

$265,050$323,950$294,500

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$1,087
Property Tax -$226
Property Insurance -$64
Property Management Fees -$128
CASH FLOW
-$84

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.

$294,500

PROJECTED PRICE

$1,420

PROJECTED RENT

0.48%

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

PROJECTED ANNUAL CASH FLOW

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

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$83,793

INVESTMENT

$83,793

Down Payment
$73,625
Rehab Estimate
$5,750
Closing Costs
$4,418

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,087

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,625
Loan Amount $220,875
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$10,672

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,479

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3953$1,4204$1,4955$1,645
$1,645
RENT COMPS ANALYSIS
  • 216 Maywood Path Waxhaw, NC 3
    • 4 beds 3 baths ∙ 1,953 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,953 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $0.73
    •  
  • 1907 Harrison Park Drive Waxhaw, NC 1
    • 3 beds 3 baths ∙ 1,775 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,775 Sqft ∙ Built 2003
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.76
    •  
  • 2043 Dunsmore Lane Waxhaw, NC 2
    • 3 beds 3 baths ∙ 1,896 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,896 Sqft ∙ Built 2005
    property image
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.74
    •  
  • 8220 Poplar Grove Circle Waxhaw, NC 4
    • 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 1996
    property image
    LEASED 12/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.75
    •  
  • 113 Southcliff Drive Waxhaw, NC 5
    • 4 beds 3 baths ∙ 2,101 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,101 Sqft ∙ Built 1999
    property image
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.78
    •  
PROPERTY LISTING DETAILS
John Bolos
1.704.777.8090
Keller Williams South Park
BESbswy