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

4623 Waxhaw Marvin Road Waxhaw, NC 28173

3 Beds 2 Baths 1,174 sqft Built 1994

$225,000

List Price

$1,290

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $191.65
  • 3 Days on Market
  • MLS # : 3705962
  • Updated Date : 02/05/2021 at 23:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,174 sqft
  • Baths : 2 full
Listing Agent

Giving Tree Realty

Listing Agent's Description

This beautiful ranch style home has 3 bedrooms and 2 full bathrooms. It is on about 1 acre of land with a huge backyard! Also, it comes with a 2 car carport, Spacious eat-in kitchen, cozy front porch, and a spacious living room area.

SEE MORE

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
Waxhaw Elementary School Primary Regular 631 37 4
Parkwood Middle School Middle Regular 965 55 7
Parkwood High School High Regular 1,006 57 5

Waxhaw Elementary School

  • Education Level: Primary
  • # of students: 631
  • # of teachers: 37
4
GreatSchools Rating

Parkwood Middle School

  • Education Level: Middle
  • # of students: 965
  • # of teachers: 55
7
GreatSchools Rating

Parkwood High School

  • Education Level: High
  • # of students: 1,006
  • # of teachers: 57
5
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,161$1,419$1,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,290
EXPENSES Loan Payment -$782
Property Tax -$173
Property Insurance -$49
Property Management Fees -$119
CASH FLOW
$168

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.

$225,000

PROJECTED PRICE

$1,290

PROJECTED RENT

0.57%

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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$782

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

9.58

YEARS SAVED

$30,248

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,290

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $1,118

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,290
1$1,2902$1,2993$1,3504$1,3705$1,395
$1,395
RENT COMPS ANALYSIS
  • 4623 Waxhaw Marvin Road Waxhaw, NC 1
    • 3 beds 2 baths ∙ 1,174 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,174 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,290
    • $1.10
    •  
  • 2022 Harrison Park Drive Waxhaw, NC 2
    • 3 beds 3 baths ∙ 1,334 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,334 Sqft ∙ Built 2003
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.97
    •  
  • 416 S Jackson Avenue Waxhaw, NC 3
    • 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1962
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.96
    •  
  • 2032 Dunsmore Lane Waxhaw, NC 4
    • 3 beds 3 baths ∙ 1,520 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,520 Sqft ∙ Built 2005
    LEASED 08/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $0.90
    •  
  • 815 Sharon Drive Waxhaw, NC 5
    • 3 beds 2 baths ∙ 1,446 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,446 Sqft ∙ Built 1972
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.96
    •  
PROPERTY LISTING DETAILS
Isaiah Wells
1.951.897.4982
Giving Tree Realty
BESbswy