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3102 Deep River Way Waxhaw, NC 28173

4 Beds 4 Baths 2,824 sqft Built 2021

$392,503

List Price

$2,360

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
December 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $138.99
  • 2 Days on Market
  • MLS # : 3693681
  • Updated Date : 12/26/2020 at 12:24
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,824 sqft
  • Baths : 3 full , 1 half
Listing Agent

Lennar Sales Corp

Listing Agent's Description

Amazing Hunter plan! Large kitchen opens to family room with gas fireplace & stunning built ins. Fabulous owners suite w/ dual closets, good size secondary bedrooms, loft. Quartz OR Granite, SS appliances (gas cooking), large island, butlers pantry, 5 inch flooring on main, recessed lighting, subway tile, gas fireplace, and much more., energy star 3.0 certification , WIFI certification & much more. Visit Millbridge's award winning amenities featuring Community House, pools with slides and lazy river, play ground, airnasium, state of the art fitness center and full time Activity Director!

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
 

$353,253$431,753$392,503

PURCHASE PRICE

$2,124$2,596$2,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,360
EXPENSES Loan Payment -$1,448
Property Tax -$301
Property Insurance -$80
HOA -$68
Property Management Fees -$119
CASH FLOW
$344

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.

$392,503

PROJECTED PRICE

$2,360

PROJECTED RENT

0.60%

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$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,013

INVESTMENT

$106,013

Down Payment
$98,126
Rehab Estimate
$2,000
Closing Costs
$5,888

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$1,448

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $98,126
Loan Amount $294,377
See What Happens When You Reinvest Cash Flow

10.67

YEARS SAVED

$76,170

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,360

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,358

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,2903$2,3504$2,3605$2,435
$2,435
RENT COMPS ANALYSIS
  • 3102 Deep River Way Waxhaw, NC 4
    • 4 beds 4 baths ∙ 2,824 Sqft ∙ Built 2021 4 beds 4 baths ∙ 2,824 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,360
    • $0.84
    •  
  • 5024 Lily Pond Circle Waxhaw, NC 1
    • 4 beds 4 baths ∙ 2,801 Sqft ∙ Built 2019 4 beds 4 baths ∙ 2,801 Sqft ∙ Built 2019
    property image
    LEASED 01/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.80
    •  
  • 4042 Lily Pond Circle Waxhaw, NC 2
    • 4 beds 4 baths ∙ 2,796 Sqft ∙ Built 2019 4 beds 4 baths ∙ 2,796 Sqft ∙ Built 2019
    property image
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $0.82
    •  
  • 1024 Pebble Brook Circle Waxhaw, NC 3
    • 4 beds 4 baths ∙ 2,845 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,845 Sqft ∙ Built 2018
    property image
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.83
    •  
  • 1037 Bannister Road Waxhaw, NC 5
    • 4 beds 4 baths ∙ 2,796 Sqft ∙ Built 2019 4 beds 4 baths ∙ 2,796 Sqft ∙ Built 2019
    property image
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,435
    • $0.87
    •  
PROPERTY LISTING DETAILS
Justin Kennelly
1.980.244.8966
Lennar Sales Corp
BESbswy