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3017 Lydney Circle Waxhaw, NC 28173

5 Beds 4 Baths 2,724 sqft Built 2021

$469,900

List Price

$2,260

$2K - $2.5K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 31, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $172.50
  • 8 Days on Market
  • MLS # : 3703766
  • Updated Date : 01/31/2021 at 14:23
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,724 sqft
  • Baths : 4 full
Listing Agent

Dr Horton Inc

Listing Agent's Description

Proposed - New Construction (scheduled to start 4/1/21) built in the highly amenitized Millbridge community- National Builders' London plan featuring highly efficient construction materials assuring low monthly utility bills - granite counters in the Kitchen AND baths; hardwood floors on the 1st floor; stainless appliances, tile backsplash + tile surround in master shower. Heavy molding throughout deliver confidence in the quality level in this award winning home. Impressive foyer entry leading open kitchen/breakfast + family room.

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
Waxhaw Elementary School Primary Regular 631 37 4
Parkwood Middle School Middle Regular 965 55 7
Parkwood High School High Regular 1,006 57 5

Waxhaw Elementary School

  • Education Level: Primary
  • # of students: 631
  • # of teachers: 37
4
GreatSchools Rating

Parkwood Middle School

  • Education Level: Middle
  • # of students: 965
  • # of teachers: 55
7
GreatSchools Rating

Parkwood High School

  • Education Level: High
  • # of students: 1,006
  • # of teachers: 57
5
GreatSchools Rating
 

$422,910$516,890$469,900

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 -$1,632
Property Tax -$361
Property Insurance -$78
HOA -$68
Property Management Fees -$119
CASH FLOW
$2

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.

$469,900

PROJECTED PRICE

$2,260

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) 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$126,524

INVESTMENT

$126,524

Down Payment
$117,475
Rehab Estimate
$2,000
Closing Costs
$7,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,632

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $117,475
Loan Amount $352,425
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$28,633

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
  • $0.83

    LIST RENT PER SQFT
  • $2,254

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,2603$2,2984$2,3005$2,300
$2,300
RENT COMPS ANALYSIS
  • 3017 Lydney Circle Waxhaw, NC 2
    • 5 beds 4 baths ∙ 2,724 Sqft ∙ Built 2021 5 beds 4 baths ∙ 2,724 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,260
    • $0.83
    •  
  • 1061 Easley Street Waxhaw, NC 1
    • 5 beds 4 baths ∙ 2,712 Sqft ∙ Built 2018 5 beds 4 baths ∙ 2,712 Sqft ∙ Built 2018
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.83
    •  
  • 1018 Easley Street Waxhaw, NC 3
    • 5 beds 4 baths ∙ 2,750 Sqft ∙ Built 2018 5 beds 4 baths ∙ 2,750 Sqft ∙ Built 2018
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,298
    • $0.84
    •  
  • 3038 Oakmere Road Waxhaw, NC 4
    • 5 beds 4 baths ∙ 2,800 Sqft ∙ Built 2016 5 beds 4 baths ∙ 2,800 Sqft ∙ Built 2016
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.82
    •  
  • 4015 Lily Pond Circle Waxhaw, NC 5
    • 5 beds 4 baths ∙ 2,850 Sqft ∙ Built 2018 5 beds 4 baths ∙ 2,850 Sqft ∙ Built 2018
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.81
    •  
PROPERTY LISTING DETAILS
Doug Bevington
1.704.281.3134
Dr Horton Inc
BESbswy