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PROPERTY INFO
FACTS
- Single Family
- Built In 2002
- Price/Sqft : $160.18
- 3 Days on Market
- MLS # : 3700072
- Updated Date : 01/23/2021 at 18:48
CONSTRUCTION
- Beds : 3
- Floor Size : 1,248 sqft
- Baths : 2 full
Listing Agent
Central Carolina Real Estate Group Llc
Listing Agent's Description
Welcome to this well maintained, move in ready, low maintenance home located in Mineral Springs!! This 3 bedroom 2 bath home has tray ceilings in the great room with gas logs! New paint throughout, new vinyl plank flooring in the great room, hall, and spare bedrooms. Master bedroom boasts tray ceilings, walk in closet, and laminate flooring. The master bath has double vanities with a tub/shower combo! Greta front porch for enjoying that morning coffee or entertain on the huge rear deck that flows from the kitchen area! This lot is wooded for that extra privacy! Great home with with no HOA at an affordable price!
SEE MORE
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 28173
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,390 |
| EXPENSES | Loan Payment | -$694 |
| Property Tax | -$153 | |
| Property Insurance | -$51 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$373
|
||
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.
$199,900
PROJECTED PRICE
$1,390
PROJECTED RENT
0.70%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$58,724
LOAN DETAILS
$694
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $49,975 |
| Loan Amount | $149,925 |
14.25
YEARS SAVED
$46,375
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,390
LIST RENT -
$1.11
LIST RENT PER SQFT
-
$1,423
COMP ESTIMATED VALUE -
$1.14
COMP AVG. RENT PER SQFT
Comps Range
-
3919 Plaxico Road Waxhaw, NC 1
- 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 2002
- Rent
- Rent Per SQFT
- $1,390
- $1.11
-
5220 Lee Massey Road Waxhaw, NC 2
- 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1980
LEASED 01/04/21- Rent
- Rent Per SQFT
- $1,599
- $1.14
PROPERTY LISTING DETAILS
1.704.320.5161
Central Carolina Real Estate Group Llc
