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2318 Abundance Lane #126 Waxhaw, NC 28173

3 Beds 3 Baths 2,206 sqft Built 2021

$362,779

List Price

$1,780

$1.6K - $2K

Rent Est.

$98,136

Investment Est.

AVAILABLE

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AVAILABLE

1 Year
(+5.0%)
1 YR. PROJ. APPRECIATION


Cap Rate	3.8%
Cash Flow	$144
Value Increase	$18,275

10 YEAR

Cash On Cash	-0.6%
Total Return	11.0%

PROPERTY INFO

Built 2021 NEW CONSTRUCTION

January 08, 2021 RECENTLY ADDED

FACTS

Single Family
Built In 2021
Price/Sqft : $164.45
3 Days on Market
MLS # : 3696860
Updated Date : 01/08/2021 at 15:51

CONSTRUCTION

Beds : 3
Floor Size : 2,206 sqft
Baths : 2 full , 1 half

Listing Agent

Lennar Sales Corp

Listing Agent's Description

Location, Location, Location…Union County and Cuthbertson School District. The Dover plan in Cortona is a Spacious, Light-Filled Ranch with 3 beds, 2.5 baths + dining room! Incredible open plan that's a real crowd pleaser! Gourmet Kitchen features Double Wall Ovens, Gas cooktop and subway tile backsplash! HUGE island is a stunning centerpiece to the open plan and overlooks a Large Great Room with fireplace. Owner's Suite is a true retreat featuring a sitting area with direct access to a covered back porch. Large walk-in closet, tiled shower with bench seat and double vanities! You don't want to miss out on this one!

MARKET HIGHLIGHTS

Charlotte Market Report

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)

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

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

GreatSchools Rating

Cuthbertson Middle School

Education Level: Middle
# of students: 1,132
# of teachers: 59

GreatSchools Rating

Cuthbertson High School

Education Level: High
# of students: 1,449
# of teachers: 69

GreatSchools Rating

FINANCIALS

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$326,501$399,05700$362,779

PURCHASE PRICE

$1,602$1,95800$1,780

RENT

DOWN PAYMENT

FINANCING

OFF ON

Acquisition Concierge

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PROPERTY

Expense Inflation	%
Vacancy	%
Length of Stay
Expense Inflation	%
Vacancy	%
Length of Stay

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (6+)

Appreciation	%
Rental Growth	%
Maintenance	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

Learn how to read this

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME	Rent	$1,780
EXPENSES	Loan Payment	-$1,260
	Property Tax	-$278
	Property Insurance	-$69
	HOA	-$42
	Property Management Fees	-$119



CASH FLOW $12

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.

$362,779

PROJECTED PRICE

$1,780

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)	3.00%
Vacancy	6.31%
Length of Stay Years	2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

Cash Flow
Appreciation
Principal

PROJECTED ANNUAL CASH FLOW

Tenant Turnover

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

Appreciation
Principal
Loan Balance

TOTAL CASH OUT OF POCKET

INVESTMENT

$98,136

Down Payment	$90,695
Rehab Estimate	$2,000
Closing Costs	$5,442

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,260

MONTHLY LOAN PAYMENT

30 yr

3.75%

25.00%

Down Payment

Term	30 Years
Interest	3.75%
Down Payment	$90,695
Loan Amount	$272,084

See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$23,243

INTEREST SAVED

CASH FLOW REINVESTMENT

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

$1,780
LIST RENT
$0.81
LIST RENT PER SQFT

$1,809
COMP ESTIMATED VALUE
$0.82
COMP AVG. RENT PER SQFT

Comps Range

$1,600

1$1,6002$1,7803$1,7954$1,975

$1,975

RENT COMPS ANALYSIS

2,206
PROPERTY SQFT
$0.82
AVG RENT PER SQFT
$1,809
ESTIMATED VALUE
$1,780
LIST RENT

2318 Abundance Lane Waxhaw, NC 4

3 beds 3 baths ∙ 2,206 Sqft ∙ Built 2021 3 beds 3 baths ∙ 2,206 Sqft ∙ Built 2021
Price

Price Per SQFT

$362,779

$164.45
2316 Abundance Lane Waxhaw, NC 1

3 beds 3 baths ∙ 2,192 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,192 Sqft ∙ Built 2020
SOLD 07/17/20
Price

Price Per SQFT

$326,999

$149.18
2330 Abundance Lane Waxhaw, NC 2

3 beds 3 baths ∙ 2,192 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,192 Sqft ∙ Built 2020
SOLD 09/01/20
Price

Price Per SQFT

$347,533

$158.55
2351 Abundance Lane Waxhaw, NC 3

3 beds 3 baths ∙ 2,192 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,192 Sqft ∙ Built 2020
SOLD 11/12/20
Price

Price Per SQFT

$356,349

$162.57
2333 Abundance Lane Waxhaw, NC 5

3 beds 3 baths ∙ 2,206 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,206 Sqft ∙ Built 2020
SOLD 11/24/20
Price

Price Per SQFT

$363,528

$164.79

2318 Abundance Lane Waxhaw, NC 2

3 beds 3 baths ∙ 2,206 Sqft ∙ Built 2021 3 beds 3 baths ∙ 2,206 Sqft ∙ Built 2021
Rent

Rent Per SQFT

$1,780

$0.81
1202 Haden Drive Waxhaw, NC 1

4 beds 3 baths ∙ 2,001 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,001 Sqft ∙ Built 2003
LEASED 10/21/19
Rent

Rent Per SQFT

$1,600

$0.80
1425 Lonan Drive Waxhaw, NC 3

4 beds 3 baths ∙ 2,300 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 2005
LEASED 03/01/20
Rent

Rent Per SQFT

$1,795

$0.78
1945 Napa Valley Drive Waxhaw, NC 4

3 beds 3 baths ∙ 2,299 Sqft ∙ Built 3 beds 3 baths ∙ 2,299 Sqft ∙ Built
LEASED 08/01/19
Rent

Rent Per SQFT

$1,975

$0.86

PROPERTY LISTING DETAILS

Philip Lomax
1.704.965.2866
Lennar Sales Corp

2318 Abundance Lane #126 Waxhaw, NC 28173

$362,779

$1,780

$98,136

REQUEST INFO

PROPERTY INFO

FACTS

CONSTRUCTION

Listing Agent

Listing Agent's Description

MARKET HIGHLIGHTS

PRICE & RENT TRENDS

SCHOOLS

Wesley Chapel Elementary School

Cuthbertson Middle School

Cuthbertson High School

FINANCIALS

$326,501$399,05700$362,779

$1,602$1,95800$1,780

Acquisition Concierge

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

$362,779

$1,780

0.49%

PROJECTED ACCUMULATED WEALTH

PROJECTED ANNUAL CASH FLOW

PROJECTED PROPERTY VALUE

TOTAL CASH OUT OF POCKET

INVESTMENT

LOAN DETAILS

25%

$1,260

5.67

$23,243

$362,779

$164.45

$350,252

$158.77

COMPS RANGE

PRICE COMPS ANALYSIS

$1,780

$0.81

$1,809

$0.82

Comps Range

RENT COMPS ANALYSIS

PROPERTY LISTING DETAILS