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308 Bouchard Drive #Lot 41 Waxhaw, NC 28173

6 Beds 4 Baths 3,423 sqft Built 2020

$478,000

List Price

$2,510

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $139.64
  • 3 Days on Market
  • MLS # : 3682029
  • Updated Date : 11/13/2020 at 13:39
CONSTRUCTION
  • Beds : 6
  • Floor Size : 3,423 sqft
  • Baths : 4 full
Listing Agent

Eastwood Homes

Listing Agent's Description

Ask about move-in specials! This spacious, 3-story Davidson plan has six bedrooms, four full baths, and more than 3,400 square feet. Enjoy a convenient guest suite on the main, the master suite and three secondary bedrooms on the upper floor, and a bedroom with full bath on the third floor. The designer kitchen features a double oven, white cabinets, granite counters, and a white ceramic tile backsplash in a brick pattern. This same design flows into the butler's pantry as well. Enjoy the outdoors on the rear screened porch or paver patio with fire pit and seating wall. Upgrades include a utility garage, tray ceilings in the foyer, dining room, and master, a luxury master shower, gas fireplace with slate surround, and oak tread stairs. Ask about Smart Home features INCLUDED in this home! Visit this wonderful new community in Waxhaw today!

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
 

$430,200$525,800$478,000

PURCHASE PRICE

$2,259$2,761$2,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,510
EXPENSES Loan Payment -$1,764
Property Tax -$367
Property Insurance -$92
HOA -$58
Property Management Fees -$226
CASH FLOW
$4

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.

$478,000

PROJECTED PRICE

$2,510

PROJECTED RENT

0.53%

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$128,670

INVESTMENT

$128,670

Down Payment
$119,500
Rehab Estimate
$2,000
Closing Costs
$7,170

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,764

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $119,500
Loan Amount $358,500
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$28,940

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,510

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,456

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,3453$2,3954$2,3955$2,510
$2,510
RENT COMPS ANALYSIS
  • 308 Bouchard Drive Waxhaw, NC 5
    • 6 beds 4 baths ∙ 3,423 Sqft ∙ Built 2020 6 beds 4 baths ∙ 3,423 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,510
    • $0.73
    •  
  • 5608 Coulee Court Waxhaw, NC 1
    • 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 2
    • 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
    •  
  • 1206 Brooksland Place Waxhaw, NC 3
    • 5 beds 4 baths ∙ 3,377 Sqft ∙ Built 2017 5 beds 4 baths ∙ 3,377 Sqft ∙ Built 2017
    LEASED 08/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.71
    •  
  • 1704 Crestgate Drive Waxhaw, NC 4
    • 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
Michael Conley
1.704.907.0699
Eastwood Homes
BESbswy