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424 Belvedere Lane 
Waxhaw, NC
28173
4 Beds 4 Baths 3,431 sqft
Built 2001
INVESTimate
$485,000
List Price
$134,275
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PROPERTY INFO
FACTS
- Built In 2001
- Price/Sqft : $141.36
- 6 Days on Market
- MLS # : 3654554
- Updated Date : 08/24/2020 at 13:34
CONSTRUCTION
- Beds : 4
- Floor Size : 3,431 sqft
- Baths : 3 full , 1 half
Listing Agent
Yancey Realty Llc
Listing Agent's Description
You don't want to miss this beautiful home in a charming, family-friendly cul-de-sac. Located in the highly sought after Somerset Community, enjoy Union County taxes while living within a mile of the Charlotte border. Somerset is zoned for Marvin Ridge Schools and is in close proximity to Blakeney and Waverly. This 4 bed, 3.5 bath home is situated on a flat lot surrounded by mature trees. Relax in your private fenced backyard and brand new stamped concrete patio just in time for Fall. The property contains an updated kitchen, breakfast nook, island seating, comfortable living area, grand family room, two gas fireplaces, formal dining area, home office, guest suite, jack and jill bathroom, enormous master closet, and neutral paint colors throughout. Community Amenities Include: Swimming Pool, Tennis Courts, Basketball Courts, Playground, Walking Trails, Pavilion, Large Activity Field, and HOA planned events.
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
Neighborhood: Somerset
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Somerset
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,490 |
| EXPENSES | Loan Payment | -$1,789 |
| Property Tax | -$375 | |
| Property Insurance | -$92 | |
| HOA | -$50 | |
| Property Management Fees | -$224 | |
|
CASH FLOW
-$40
|
||
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.
$485,000
PROJECTED PRICE
$2,490
PROJECTED RENT
0.51%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.76% |
| Appreciation Year (1-5) | 4.14% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.36% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$134,275
LOAN DETAILS
$1,789
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $121,250 |
| Loan Amount | $363,750 |
4.58
YEARS SAVED
$27,591
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,490
LIST RENT -
$0.73
LIST RENT PER SQFT
-
$2,693
COMP ESTIMATED VALUE -
$0.78
COMP AVG. RENT PER SQFT
Comps Range
-
424 Belvedere Lane Waxhaw, NC 1
- 4 beds 4 baths ∙ 3,431 Sqft ∙ Built 2001 4 beds 4 baths ∙ 3,431 Sqft ∙ Built 2001
- Rent
- Rent Per SQFT
- $2,490
- $0.73
-
6634 Fairhope Court Charlotte, NC 2
- 5 beds 3 baths ∙ 3,222 Sqft ∙ Built 1993 5 beds 3 baths ∙ 3,222 Sqft ∙ Built 1993
LEASED 02/20/20- Rent
- Rent Per SQFT
- $2,600
- $0.81
-
5211 Gwaltney Court Charlotte, NC 3
- 4 beds 3 baths ∙ 3,500 Sqft ∙ Built 1993 4 beds 3 baths ∙ 3,500 Sqft ∙ Built 1993
LEASED 06/15/20- Rent
- Rent Per SQFT
- $2,600
- $0.74
-
419 Belvedere Lane Waxhaw, NC 4
- 4 beds 4 baths ∙ 3,442 Sqft ∙ Built 2001 4 beds 4 baths ∙ 3,442 Sqft ∙ Built 2001
LEASED 07/10/19- Rent
- Rent Per SQFT
- $2,625
- $0.76
-
11849 James Richard Drive Charlotte, NC 5
- 5 beds 4 baths ∙ 3,556 Sqft ∙ Built 2004 5 beds 4 baths ∙ 3,556 Sqft ∙ Built 2004
LEASED 07/03/19- Rent
- Rent Per SQFT
- $3,000
- $0.84
PROPERTY LISTING DETAILS
1.704.345.2477
Yancey Realty Llc
