Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Single Family
- Built In 2020
- Price/Sqft : $148.55
- 27 Days on Market
- MLS # : 3683276
- Updated Date : 12/11/2020 at 11:00
CONSTRUCTION
- Beds : 4
- Floor Size : 3,216 sqft
- Baths : 4 full
Listing Agent
M/i Homes
Listing Agent's Description
Homesite 25 – Welcome home to the Witley! This 2-story floorplan has 4 bedrooms, 4 bathrooms, and a 2-car garage. Step inside through the covered porch to see engineered vinyl plank flooring that begins in the 2-story foyer and continues into the dining room, kitchen, breakfast area, and family room. Past the garage is an e-zone where you can easily drop your keys or mail, and the laundry room with a wall-mounted laundry tub to your right. There is a guest suite at the front of the home with its own bathroom for visitors to have privacy. The dining room and family room share a two-sided fireplace with black granite surrounds. The gourmet kitchen has upgraded features such as an island, 42" cabinets, a white tile backsplash, and granite countertops. The open and extended owner's suite sits at the back of the home on the main level with tray ceiling and a walk-in closet. Two other bedrooms and bathrooms as well as a bonus room are upstairs. This home won't last long!
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 | $2,260 |
| EXPENSES | Loan Payment | -$1,763 |
| Property Tax | -$367 | |
| Property Insurance | -$88 | |
| HOA | -$58 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$134
|
||
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.
$477,725
PROJECTED PRICE
$2,260
PROJECTED RENT
0.47%
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) | 3.00% |
| 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
$128,597
LOAN DETAILS
$1,763
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $119,431 |
| Loan Amount | $358,294 |
4.33
YEARS SAVED
$23,207
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,260
LIST RENT -
$0.7
LIST RENT PER SQFT
-
$2,283
COMP ESTIMATED VALUE -
$0.71
COMP AVG. RENT PER SQFT
Comps Range
-
226 Bouchard Drive Waxhaw, NC 3
- 4 beds 4 baths ∙ 3,216 Sqft ∙ Built 2020 4 beds 4 baths ∙ 3,216 Sqft ∙ Built 2020
- Rent
- Rent Per SQFT
- $2,260
- $0.70
-
1715 Hoosac Drive Waxhaw, NC 1
- 4 beds 3 baths ∙ 3,140 Sqft ∙ Built 2010 4 beds 3 baths ∙ 3,140 Sqft ∙ Built 2010
LEASED 06/01/20- Rent
- Rent Per SQFT
- $2,145
- $0.68
-
5608 Coulee Court Waxhaw, NC 2
- 5 beds 4 baths ∙ 3,092 Sqft ∙ Built 2016 5 beds 4 baths ∙ 3,092 Sqft ∙ Built 2016
LEASED 06/26/20- Rent
- Rent Per SQFT
- $2,200
- $0.71
-
1605 Palazzo Drive Waxhaw, NC 4
- 5 beds 4 baths ∙ 3,185 Sqft ∙ Built 2016 5 beds 4 baths ∙ 3,185 Sqft ∙ Built 2016
LEASED 04/23/20- Rent
- Rent Per SQFT
- $2,345
- $0.74
-
1704 Crestgate Drive Waxhaw, NC 5
- 5 beds 3 baths ∙ 3,481 Sqft ∙ Built 2000 5 beds 3 baths ∙ 3,481 Sqft ∙ Built 2000
LEASED 04/12/20- Rent
- Rent Per SQFT
- $2,395
- $0.69
PROPERTY LISTING DETAILS
1.704.208.8125
M/i Homes
