Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

4002 Warwagon Drive Indian Trail, NC 28079

3 Beds 4 Baths 2,952 sqft Built 2003

$347,000

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $117.55
  • 4 Days on Market
  • MLS # : 3686019
  • Updated Date : 12/10/2020 at 22:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,952 sqft
  • Baths : 2 full , 2 half
Listing Agent

Opendoor Brokerage Llc

Listing Agent's Description

This Indian Trail two-story home offers a two-car garage. This home is vacant and cleaned regularly.

SEE MORE

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

Zip Code: 28079

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Zip Code: 28079

ZipNIR 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
Poplin Elementary School Primary Regular 719 40 7
Porter Ridge Middle School Middle Regular 1,385 72 7
Porter Ridge High School High Regular 1,591 77 7

Poplin Elementary School

  • Education Level: Primary
  • # of students: 719
  • # of teachers: 40
7
GreatSchools Rating

Porter Ridge Middle School

  • Education Level: Middle
  • # of students: 1,385
  • # of teachers: 72
7
GreatSchools Rating

Porter Ridge High School

  • Education Level: High
  • # of students: 1,591
  • # of teachers: 77
7
GreatSchools Rating
 

$312,300$381,700$347,000

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,280
Property Tax -$227
Property Insurance -$83
HOA -$78
Property Management Fees -$119
CASH FLOW
$3

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.

$347,000

PROJECTED PRICE

$1,790

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.3%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$97,705

INVESTMENT

$97,705

Down Payment
$86,750
Rehab Estimate
$5,750
Closing Costs
$5,205

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,280

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $86,750
Loan Amount $260,250
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$26,216

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.61

    LIST RENT PER SQFT
  • $1,823

    COMP ESTIMATED VALUE
  • $0.62

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7653$1,7904$1,9255$1,945
$1,945
RENT COMPS ANALYSIS
  • 4002 Warwagon Drive Indian Trail, NC 3
    • 3 beds 4 baths ∙ 2,952 Sqft ∙ Built 2003 3 beds 4 baths ∙ 2,952 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.61
    •  
  • 1012 Yellow Bee Road Indian Trail, NC 1
    • 4 beds 3 baths ∙ 2,716 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,716 Sqft ∙ Built 2007
    property image
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.64
    •  
  • 1008 Rural Farm Road Indian Trail, NC 2
    • 4 beds 3 baths ∙ 2,967 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,967 Sqft ∙ Built 2007
    property image
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,765
    • $0.59
    •  
  • 2002 Seabiscuit Drive Indian Trail, NC 4
    • 4 beds 3 baths ∙ 3,006 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,006 Sqft ∙ Built 2003
    property image
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.64
    •  
  • 4173 Oconnell Street Indian Trail, NC 5
    • 4 beds 3 baths ∙ 3,220 Sqft ∙ Built 2014 4 beds 3 baths ∙ 3,220 Sqft ∙ Built 2014
    property image
    LEASED 08/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.60
    •  
PROPERTY LISTING DETAILS
Verria Hairston
1.704.751.0133
Opendoor Brokerage Llc
BESbswy