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5008 Oakmere Road Waxhaw, NC 28173

4 Beds 4 Baths 2,724 sqft Built 2021

$402,900

List Price

$2,420

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $147.91
  • 3 Days on Market
  • MLS # : 3703500
  • Updated Date : 01/29/2021 at 16:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,724 sqft
  • Baths : 4 full
Listing Agent

Dr Horton Inc

Listing Agent's Description

New Construction built in the highly amenitized Millbridge community- National Builders' London plan featuring highly efficient construction materials assuring low monthly utility bills - granite counters in the Kitchen AND baths; hardwood floors on the 1st floor; stainless appliances, tile backsplash + tile surround in master shower. Heavy molding throughout deliver confidence in the quality level in this award winning home. Impressive foyer entry leading open kitchen/breakfast + family room.

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
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
 

$362,610$443,190$402,900

PURCHASE PRICE

$2,178$2,662$2,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,420
EXPENSES Loan Payment -$1,399
Property Tax -$309
Property Insurance -$78
HOA -$68
Property Management Fees -$119
CASH FLOW
$447

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$402,900

PROJECTED PRICE

$2,420

PROJECTED RENT

0.60%

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) 3.00%
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$25k$30k

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$108,769

INVESTMENT

$108,769

Down Payment
$100,725
Rehab Estimate
$2,000
Closing Costs
$6,044

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$1,399

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $100,725
Loan Amount $302,175
See What Happens When You Reinvest Cash Flow

11.67

YEARS SAVED

$75,843

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,420

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,411

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,420
1$2,4202$2,4353$2,4504$2,4505$2,600
$2,600
RENT COMPS ANALYSIS
  • 5008 Oakmere Road Waxhaw, NC 1
    • 4 beds 4 baths ∙ 2,724 Sqft ∙ Built 2021 4 beds 4 baths ∙ 2,724 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,420
    • $0.89
    •  
  • 1037 Bannister Road Waxhaw, NC 2
    • 4 beds 4 baths ∙ 2,796 Sqft ∙ Built 2019 4 beds 4 baths ∙ 2,796 Sqft ∙ Built 2019
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,435
    • $0.87
    •  
  • 2000 Lily Pond Circle Waxhaw, NC 3
    • 4 beds 4 baths ∙ 2,796 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,796 Sqft ∙ Built 2018
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.88
    •  
  • 8007 Oakmere Road Waxhaw, NC 4
    • 4 beds 4 baths ∙ 2,700 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,700 Sqft ∙ Built 2020
    LEASED 01/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.91
    •  
  • 1120 Walbury Hill Waxhaw, NC 5
    • 4 beds 4 baths ∙ 2,724 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,724 Sqft ∙ Built 2020
    LEASED 12/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.95
    •  
PROPERTY LISTING DETAILS
Doug Bevington
1.704.281.3134
Dr Horton Inc
BESbswy