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4058 Henshaw Road Waxhaw, NC 28173

4 Beds 3 Baths 2,918 sqft Built 2017

$440,000

List Price

$2,430

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $150.79
  • 2 Days on Market
  • MLS # : 3678750
  • Updated Date : 11/02/2020 at 16:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,918 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Fort Mill

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$396,000$484,000$440,000

PURCHASE PRICE

$2,187$2,673$2,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,430
EXPENSES Loan Payment -$1,623
Property Tax -$338
Property Insurance -$82
HOA -$68
Property Management Fees -$219
CASH FLOW
$101

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.

$440,000

PROJECTED PRICE

$2,430

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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,350

INVESTMENT

$122,350

Down Payment
$110,000
Rehab Estimate
$5,750
Closing Costs
$6,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,623

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $110,000
Loan Amount $330,000
See What Happens When You Reinvest Cash Flow

6

YEARS SAVED

$36,016

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,430

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,429

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,2903$2,3504$2,4305$2,500
$2,500
RENT COMPS ANALYSIS
  • 4058 Henshaw Road Waxhaw, NC 4
    • 4 beds 3 baths ∙ 2,918 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,918 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,430
    • $0.83
    •  
  • 5024 Lily Pond Circle Waxhaw, NC 1
    • 4 beds 4 baths ∙ 2,801 Sqft ∙ Built 2019 4 beds 4 baths ∙ 2,801 Sqft ∙ Built 2019
    LEASED 01/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.80
    •  
  • 4042 Lily Pond Circle Waxhaw, NC 2
    • 4 beds 4 baths ∙ 2,796 Sqft ∙ Built 2019 4 beds 4 baths ∙ 2,796 Sqft ∙ Built 2019
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $0.82
    •  
  • 1024 Pebble Brook Circle Waxhaw, NC 3
    • 4 beds 4 baths ∙ 2,845 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,845 Sqft ∙ Built 2018
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.83
    •  
  • 5029 Henshaw Road Waxhaw, NC 5
    • 4 beds 3 baths ∙ 2,925 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,925 Sqft ∙ Built 2017
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.85
    •  
PROPERTY LISTING DETAILS
Tony Swainey
1.803.810.5267
Keller Williams Fort Mill
BESbswy