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3922 Waxahachie Avenue Charlotte, NC 28214

4 Beds 3 Baths 2,644 sqft Built 2021

$345,040

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $130.50
  • 2 Days on Market
  • MLS # : 3715547
  • Updated Date : 03/06/2021 at 11:38
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,644 sqft
  • Baths : 2 full , 1 half
Listing Agent

Dr Horton Inc

Listing Agent's Description

An office and dining room greet your entry from the front door. A large family room is open to the breakfast and kitchen area with granite countertops, tile backsplash and LED lights. 9' ceilings on the first floor, upstairs there are 4 bedroom including a large owners suite, an open loft is perfect for bonus or media room. Belmeade Crossing conveniently located off Moores Chapel Rd Exit 12 on I-485 near Whitewater Center, Uptown Charlotte, airport, University area etc. This home is an incredible value with all the benefits of new construction and a 10 yr. Home Warranty! Home Is Connected? includes programmable thermostat, Z-Wave door lock and wireless switch, touchscreen control device, automation platform, video doorbell, and Amazon Echo and Echo Dot. All home features are subject to change without notice. Internet service not included.

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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

Neighborhood: Moores Chapel

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k235k

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

Neighborhood: Moores Chapel

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6771518

* 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
Whitewater Academy Primary Unknown 756 45 NA
Whitewater Middle School Middle Regular 924 53 5
West Mecklenburg High School High Regular 2,040 108 1

Whitewater Academy

  • Education Level: Primary
  • # of students: 756
  • # of teachers: 45
NA
GreatSchools Rating

Whitewater Middle School

  • Education Level: Middle
  • # of students: 924
  • # of teachers: 53
5
GreatSchools Rating

West Mecklenburg High School

  • Education Level: High
  • # of students: 2,040
  • # of teachers: 108
1
GreatSchools Rating
 

$310,536$379,544$345,040

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,198
Property Tax -$321
Property Insurance -$77
HOA -$42
Property Management Fees -$119
CASH FLOW
$83

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.

$345,040

PROJECTED PRICE

$1,840

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 3.00%
Vacancy 6.02%
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

PROJECTED ANNUAL CASH FLOW

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

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$93,436

INVESTMENT

$93,436

Down Payment
$86,260
Rehab Estimate
$2,000
Closing Costs
$5,176

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,198

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,260
Loan Amount $258,780
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$25,012

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,844

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,615
1$1,6152$1,7453$1,7504$1,8405$1,925
$1,925
RENT COMPS ANALYSIS
  • 3922 Waxahachie Avenue Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,644 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,644 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.70
    •  
  • 7515 Niccoline Lane Charlotte, NC 1
    • 4 beds 4 baths ∙ 2,546 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,546 Sqft ∙ Built 2018
    property image
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,615
    • $0.63
    •  
  • 1244 San Gabriel Avenue Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,392 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,392 Sqft ∙ Built 2016
    property image
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.73
    •  
  • 7030 Thorncrown Street Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,635 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,635 Sqft ∙ Built 2017
    property image
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.66
    •  
  • 1319 San Gabriel Avenue Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,509 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,509 Sqft ∙ Built 2016
    property image
    LEASED 10/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.77
    •  
PROPERTY LISTING DETAILS
Haley Courtright
1.704.661.2747
Dr Horton Inc
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3715547
Last Updated: 03/06/2021
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