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3202 Arsdale Road Waxhaw, NC 28173

5 Beds 3 Baths 2,620 sqft Built 2013

$399,900

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $152.63
  • 11 Days on Market
  • MLS # : 3710195
  • Updated Date : 02/27/2021 at 14:52
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,620 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Ballantyne Area

Listing Agent's Description

Lovely, Move-In-Ready 5BR/3BA home in Waxhaw's popular Cureton neighborhood! Fresh neutral paint & new carpet. Main level features beautiful wood floors, office/bedroom, dining room with tray ceiling, fabulous gourmet kitchen with gleaming granite counters, island, breakfast bar and plenty of cream colored cabinets for storage. Great room boasts upgraded lighting and gas fireplace. Step outside and relax on the back patio overlooking the spacious, flat yard. Second floor features Owner's retreat with tray ceiling, luxurious bath and two walk-in closets, two additional bedrooms, another full bath and laundry room, plus a large bonus room or 5th bedroom. Residents enjoy wonderful amenities including, pool with water slide, playground and fitness center, plus award-wining schools and low Union County taxes!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$359,910$439,890$399,900

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,389
Property Tax -$307
Property Insurance -$76
HOA -$66
Property Management Fees -$119
CASH FLOW
$243

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.

$399,900

PROJECTED PRICE

$2,200

PROJECTED RENT

0.55%

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

8.67

YEARS SAVED

$47,638

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,168

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1503$2,2004$2,2005$2,200
$2,200
RENT COMPS ANALYSIS
  • 3202 Arsdale Road Waxhaw, NC 5
    • 5 beds 3 baths ∙ 2,620 Sqft ∙ Built 2013 5 beds 3 baths ∙ 2,620 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.84
    •  
  • 3405 Bidwell Avenue Waxhaw, NC 1
    • 4 beds 3 baths ∙ 2,485 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,485 Sqft ∙ Built 2008
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.85
    •  
  • 3409 Bidwell Avenue Waxhaw, NC 2
    • 5 beds 3 baths ∙ 2,573 Sqft ∙ Built 2009 5 beds 3 baths ∙ 2,573 Sqft ∙ Built 2009
    LEASED 02/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.84
    •  
  • 2910 Arsdale Road Waxhaw, NC 3
    • 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
    •  
  • 3013 Connells Point Avenue Waxhaw, NC 4
    • 4 beds 4 baths ∙ 2,633 Sqft ∙ Built 2008 4 beds 4 baths ∙ 2,633 Sqft ∙ Built 2008
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.84
    •  
PROPERTY LISTING DETAILS
Tara Poole
1.704.999.8615
Keller Williams Ballantyne Area
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3710195
Last Updated: 02/27/2021
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