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3834 Saxonbury Way Charlotte, NC 28269

4 Beds 3 Baths 2,237 sqft Built 1989

$250,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $111.76
  • 3 Days on Market
  • MLS # : 3719969
  • Updated Date : 03/19/2021 at 23:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,237 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty Llc

Listing Agent's Description

Spacious home with 4 bedrooms & 2 1/2 baths. Open family room with fireplace & vaulted ceilings. Eat in kitchen with island. There is still trash inside house, Enter with caution! Utilities are NOT on.

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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

Neighborhood: Prosperity Church Road

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Prosperity Church Road

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441809

* 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
Croft Community School Primary Regular 644 35 NA
Ridge Road Middle School Middle Regular 1,285 65 6
Mallard Creek High School High Regular 2,472 123 6

Croft Community School

  • Education Level: Primary
  • # of students: 644
  • # of teachers: 35
NA
GreatSchools Rating

Ridge Road Middle School

  • Education Level: Middle
  • # of students: 1,285
  • # of teachers: 65
6
GreatSchools Rating

Mallard Creek High School

  • Education Level: High
  • # of students: 2,472
  • # of teachers: 123
6
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$868
Property Tax -$259
Property Insurance -$69
HOA -$50
Property Management Fees -$119
CASH FLOW
$274

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.

$250,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.4%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

11.08

YEARS SAVED

$41,194

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,672

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6403$1,6504$1,7505$1,835
$1,835
RENT COMPS ANALYSIS
  • 3834 Saxonbury Way Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,237 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,237 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.73
    •  
  • 3701 Waterton Leas Court Charlotte, NC 1
    • 3 beds 3 baths ∙ 2,304 Sqft ∙ Built 1988 3 beds 3 baths ∙ 2,304 Sqft ∙ Built 1988
    LEASED 03/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.69
    •  
  • 3026 Ernest Russell Court Charlotte, NC 3
    • 3 beds 3 baths ∙ 2,106 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,106 Sqft ∙ Built 2006
    LEASED 02/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.78
    •  
  • 4221 Saxonbury Way Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,321 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,321 Sqft ∙ Built 1987
    LEASED 05/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.75
    •  
  • 12435 Lookout Point Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,384 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,384 Sqft ∙ Built 2013
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,835
    • $0.77
    •  
PROPERTY LISTING DETAILS
Julie Horton
1.888.584.9431
Exp Realty Llc
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3719969
Last Updated: 03/19/2021
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