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3102 Arsdale Road Waxhaw, NC 28173

4 Beds 4 Baths 2,888 sqft Built 2013

INVESTimate

$409,000

List Price

$2,090

$1,881 - $2,299

Rent Est.

$429,491  ( +5.01%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 2013
  • Price/Sqft : $141.62
  • 8 Days on Market
  • MLS # : 3652870
  • Updated Date : 08/19/2020 at 12:19
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,888 sqft
  • Baths : 3 full , 1 half
Listing Agent

Allen Tate Providence @485

Listing Agent's Description

Brilliantly Sunlit Home with an Expansive Back Patio with Shade Arbor. Eye catching from the first glance all the way through! This home boasts: beautiful vinyl plank flooring on main, arched doorways, sound speakers in Great Room, extensive tile and granite, French doors in office, new carpet and freshly painted. Chef's Kitchen with white cabinetry, gas cooktop, double oven, tile backsplash, double breakfast bar with seating and stainless steel appliances to include the matching refrigerator. The Master Suite has stunning tile. 3 spacious additional bedrooms and 3 upper baths. The wonderfully manicured back yard is fully fenced and has a brick half wall and privacy plants on the back. Set in prime area in charming Waxhaw and so close to Charlotte offering a broad variety of shopping, restaurants and activities. Be sure to see the resort styled amenity area with clubhouse, pool. playground, rec area. This is an incredible Home Sweet Home!

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
Kensington Elementary School Primary Regular 691 42 9
Cuthbertson Middle School Middle Regular 1,132 59 10
Cuthbertson High School High Regular 1,449 69 9

Kensington Elementary School

  • Education Level: Primary
  • # of students: 691
  • # of teachers: 42
9
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
 

$368,100$449,900$409,000

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$1,509
Property Tax -$328
Property Insurance -$82
Property Management Fees -$188
CASH FLOW
-$16

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.

$409,000

PROJECTED PRICE

$2,090

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.01%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$114,135

INVESTMENT

$114,135

Down Payment
$102,250
Rehab Estimate
$5,750
Closing Costs
$6,135

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,509

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $102,250
Loan Amount $306,750
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$23,295

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,090

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $2,087

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0903$2,0954$2,1005$2,200
$2,200
RENT COMPS ANALYSIS
  • 3102 Arsdale Road Waxhaw, NC 2
    • 4 beds 4 baths ∙ 2,888 Sqft ∙ Built 2013 4 beds 4 baths ∙ 2,888 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $0.72
    •  
  • 8512 Whitehawk Hill Road Waxhaw, NC 1
    • 4 beds 3 baths ∙ 2,935 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,935 Sqft ∙ Built 2006
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.68
    •  
  • 8024 Whitehawk Hill Road Waxhaw, NC 3
    • 4 beds 4 baths ∙ 3,011 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,011 Sqft ∙ Built 2006
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.70
    •  
  • 8416 Whitehawk Hill Road Waxhaw, NC 4
    • 5 beds 3 baths ∙ 2,876 Sqft ∙ Built 2007 5 beds 3 baths ∙ 2,876 Sqft ∙ Built 2007
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.73
    •  
  • 2910 Arsdale Road Waxhaw, NC 5
    • 4 beds 3 baths ∙ 2,818 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,818 Sqft ∙ Built 2013
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.78
    •  
PROPERTY LISTING DETAILS
Brent "andy" Bovender
1.704.625.6127
Allen Tate Providence @485
BESbswy