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2212 Abundance Lane #133 Waxhaw, NC 28173

4 Beds 4 Baths 2,964 sqft Built 2021

$419,114

List Price

$2,230

$2K - $2.5K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $141.40
  • 3 Days on Market
  • MLS # : 3696801
  • Updated Date : 01/08/2021 at 15:50
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,964 sqft
  • Baths : 3 full , 1 half
Listing Agent

Lennar Sales Corp

Listing Agent's Description

The Forsyth is a large two-story plan that has it all...4 Spacious Bedrooms, 3.5 Baths, plus an Upstairs Loft; Large, open Kitchen with Stainless Steel Appliances, Granite Countertops and Tile Backsplash. Worktime can be spent in the private Study on the 1st level. Luxury details like Wrought Iron Stair Railings, Leaded Glass Front Door and HW Floors in main living area have been added. Amenities such as Club Room, Fitness Room, Entertainment Patio with Fireplace, Bocci and Horseshoe Courts coming soon!! This is Union County and Cuthbertson School District. THIS HOME WILL BE READY IN MARCH AND WON'T LAST LONG IN THIS MARKET!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Wesley Chapel Elementary School Primary Regular 550 30 7
Cuthbertson Middle School Middle Regular 1,132 59 10
Cuthbertson High School High Regular 1,449 69 9

Wesley Chapel Elementary School

  • Education Level: Primary
  • # of students: 550
  • # of teachers: 30
7
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
 

$377,203$461,025$419,114

PURCHASE PRICE

$2,007$2,453$2,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,230
EXPENSES Loan Payment -$1,456
Property Tax -$322
Property Insurance -$83
HOA -$42
Property Management Fees -$119
CASH FLOW
$209

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$419,114

PROJECTED PRICE

$2,230

PROJECTED RENT

0.53%

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) 3.00%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$113,065

INVESTMENT

$113,065

Down Payment
$104,779
Rehab Estimate
$2,000
Closing Costs
$6,287

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,456

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $104,779
Loan Amount $314,336
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$50,001

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,230

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,238

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,2003$2,2304$2,2955$2,345
$2,345
RENT COMPS ANALYSIS
  • 2212 Abundance Lane Waxhaw, NC 3
    • 4 beds 4 baths ∙ 2,964 Sqft ∙ Built 2021 4 beds 4 baths ∙ 2,964 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,230
    • $0.75
    •  
  • 5103 Brynmar Drive Waxhaw, NC 1
    • 3 beds 3 baths ∙ 2,692 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,692 Sqft ∙ Built 2013
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.74
    •  
  • 5608 Coulee Court Waxhaw, NC 2
    • 5 beds 4 baths ∙ 3,092 Sqft ∙ Built 2016 5 beds 4 baths ∙ 3,092 Sqft ∙ Built 2016
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.71
    •  
  • 4821 Sandtyn Drive Waxhaw, NC 4
    • 5 beds 3 baths ∙ 2,824 Sqft ∙ Built 2003 5 beds 3 baths ∙ 2,824 Sqft ∙ Built 2003
    property image
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.81
    •  
  • 1605 Palazzo Drive Waxhaw, NC 5
    • 5 beds 4 baths ∙ 3,185 Sqft ∙ Built 2016 5 beds 4 baths ∙ 3,185 Sqft ∙ Built 2016
    property image
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,345
    • $0.74
    •  
PROPERTY LISTING DETAILS
Philip Lomax
1.704.965.2866
Lennar Sales Corp
BESbswy