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226 Bouchard Drive Waxhaw, NC 28173

4 Beds 4 Baths 3,216 sqft Built 2020

$477,725

List Price

$2,260

$2K - $2.5K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
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

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
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
 

$429,953$525,498$477,725

PURCHASE PRICE

$2,034$2,486$2,260

RENT

DOWN PAYMENT
FINANCING

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

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$128,597

INVESTMENT

$128,597

Down Payment
$119,431
Rehab Estimate
$2,000
Closing Costs
$7,166

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,763

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $119,431
Loan Amount $358,294
See What Happens When You Reinvest Cash Flow

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
$2,145
1$2,1452$2,2003$2,2604$2,3455$2,395
$2,395
RENT COMPS ANALYSIS
  • 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
Alan Beulah
1.704.208.8125
M/i Homes
BESbswy