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2721 Twinberry Lane Waxhaw, NC 28173

4 Beds 3 Baths 2,951 sqft Built 2011

$475,000

List Price

$2,280

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $160.96
  • 16 Days on Market
  • MLS # : 3711445
  • Updated Date : 03/13/2021 at 00:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,951 sqft
  • Baths : 2 full , 1 half
Listing Agent

Allen Tate Steele Creek

Listing Agent's Description

Stunning 4 bed 2.5 bath home in Beautiful Waxhaw!! This fabulous house features an amazing, fully upgraded kitchen with huge island, pantry, tons of cabinetry and counter space. Breakfast area boasts coffered ceilings and large windows. Great Room is truly great with built ins, gas fireplace and plenty of space for a big sofa! Beautiful wide plank wood floors on main level. Spacious owners suite is on the first floor with g aood size bathroom and walk in closet. Large secondary bedrooms. Bonus room has surround sound and tray ceilings which make it perfect for a mancave, playroom etc! Private lot with oversized covered patio perfect for entertaining! Fresh neutral paint through out. Lots of storage. Home is sparkling clean and Move in ready. Great schools!

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
Sandy Ridge Elementary School Primary Regular 660 40 10
Marvin Ridge Middle School Middle Regular 1,264 68 9
Marvin Ridge High School High Regular 1,573 78 10

Sandy Ridge Elementary School

  • Education Level: Primary
  • # of students: 660
  • # of teachers: 40
10
GreatSchools Rating

Marvin Ridge Middle School

  • Education Level: Middle
  • # of students: 1,264
  • # of teachers: 68
9
GreatSchools Rating

Marvin Ridge High School

  • Education Level: High
  • # of students: 1,573
  • # of teachers: 78
10
GreatSchools Rating
 

$427,500$522,500$475,000

PURCHASE PRICE

$2,052$2,508$2,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,280
EXPENSES Loan Payment -$1,650
Property Tax -$364
Property Insurance -$83
HOA -$70
Property Management Fees -$119
CASH FLOW
-$6

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.

$475,000

PROJECTED PRICE

$2,280

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$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$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,650

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$28,120

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,280

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,302

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2003$2,2804$2,5005$2,695
$2,695
RENT COMPS ANALYSIS
  • 2721 Twinberry Lane Waxhaw, NC 3
    • 4 beds 3 baths ∙ 2,951 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,951 Sqft ∙ Built 2011
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,280
    • $0.77
    •  
  • 8416 Whitehawk Hill Road Waxhaw, NC 1
    • 5 beds 3 baths ∙ 2,876 Sqft ∙ Built 2007 5 beds 3 baths ∙ 2,876 Sqft ∙ Built 2007
    property image
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.73
    •  
  • 2910 Arsdale Road Waxhaw, NC 2
    • 4 beds 3 baths ∙ 2,818 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,818 Sqft ∙ Built 2013
    property image
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.78
    •  
  • 1212 Autumn Ridge Drive Waxhaw, NC 4
    • 4 beds 3 baths ∙ 3,300 Sqft ∙ Built 2016 4 beds 3 baths ∙ 3,300 Sqft ∙ Built 2016
    property image
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.76
    •  
  • 2609 Merryvale Way Waxhaw, NC 5
    • 4 beds 3 baths ∙ 3,174 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,174 Sqft ∙ Built 2005
    property image
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.85
    •  
PROPERTY LISTING DETAILS
Erin Sumner
1.704.491.7407
Allen Tate Steele Creek
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3711445
Last Updated: 03/13/2021
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