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4108 Chasebrook Lane Waxhaw, NC 28173

4 Beds 3 Baths 3,658 sqft Built 2008

INVESTimate

$469,000

List Price

$2,440

$2,196 - $2,684

Rent Est.

$492,497  ( +5.01%)   1 YR EST. FORECAST

PROPERTY INFO

August 26, 2020 RECENTLY ADDED
FACTS
  • Built In 2008
  • Price/Sqft : $128.21
  • 7 Days on Market
  • MLS # : 3652885
  • Updated Date : 08/26/2020 at 00:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,658 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Ballantyne Area

Listing Agent's Description

Prime Location 3 Story Home in Millbridge!. Don't miss out on all this space! Enjoy the Large Front Porch that overlooks a beautiful Pocket Park . Stunning 2 Story entry Foyer that leads to an Amazing Open Floor plan perfect for Entertaining. Large Flex space that can be an Office or playroom.HUGE Dining Area for an amazing Holiday celebration. Continue into the Gourmet Eat in Kitchen w/ Breakfast Area- Gas Stove and SS Appliances- Lots of Counter space and many Cabinets. The Great Room is ENORMOUS wood floors throughout! Main Floor guest Suite w/Full Bath. Gorgeous Master Suite w/ upgraded Flooring and Spa Like Bath and Large Walk in his/ hers Closets. 2 Additional Large Bedrooms w/ spacious closets. A Move in Ready Media Room for FUN Movie Nights. 3rd floor Office space or Virtual Classroom space. Amazing Outdoor living complete w/ Screened in Porch -Pergola and fire pit w/ Stone Patio- Fenced in Yard. Walk in Storage Areas-in Ground irrigation- Surround Sound speakers.

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: 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
 

$422,100$515,900$469,000

PURCHASE PRICE

$2,196$2,684$2,440

RENT

DOWN PAYMENT
FINANCING

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-$5.0k$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$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,440
EXPENSES Loan Payment -$1,730
Property Tax -$360
Property Insurance -$96
HOA -$68
Property Management Fees -$220
CASH FLOW
-$33

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.

$469,000

PROJECTED PRICE

$2,440

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.01%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$130,035

INVESTMENT

$130,035

Down Payment
$117,250
Rehab Estimate
$5,750
Closing Costs
$7,035

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,730

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $117,250
Loan Amount $351,750
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$24,834

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,440

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $2,625

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$2,390
1$2,3902$2,4403$2,5654$2,8805$2,900
$2,900
RENT COMPS ANALYSIS
  • 4108 Chasebrook Lane Waxhaw, NC 2
    • 4 beds 3 baths ∙ 3,658 Sqft ∙ Built 2008 4 beds 3 baths ∙ 3,658 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $2,440
    • $0.67
    •  
  • 1009 Sterling Drive Waxhaw, NC 1
    • 5 beds 3 baths ∙ 3,314 Sqft ∙ Built 2017 5 beds 3 baths ∙ 3,314 Sqft ∙ Built 2017
    LEASED 05/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $0.72
    •  
  • 4200 Chasebrook Lane Waxhaw, NC 3
    • 5 beds 4 baths ∙ 3,833 Sqft ∙ Built 2009 5 beds 4 baths ∙ 3,833 Sqft ∙ Built 2009
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,565
    • $0.67
    •  
  • 2801 Swinton Court Waxhaw, NC 4
    • 4 beds 4 baths ∙ 4,006 Sqft ∙ Built 2004 4 beds 4 baths ∙ 4,006 Sqft ∙ Built 2004
    LEASED 04/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,880
    • $0.72
    •  
  • 4032 Pinebrook Lane Waxhaw, NC 5
    • 5 beds 5 baths ∙ 3,800 Sqft ∙ Built 2013 5 beds 5 baths ∙ 3,800 Sqft ∙ Built 2013
    LEASED 03/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.76
    •  
PROPERTY LISTING DETAILS
Aly Carlson
1.203.215.1679
Keller Williams Ballantyne Area
BESbswy