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5010 Henshaw Road Waxhaw, NC 28173

4 Beds 3 Baths 2,873 sqft Built 2017

$470,000

List Price

$2,450

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $163.59
  • 12 Days on Market
  • MLS # : 3711548
  • Updated Date : 03/06/2021 at 00:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,873 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Fort Mill

Listing Agent's Description

Beautiful Cottage Collection with a master down. This home features a stunning gourmet kitchen with a large island, granite counters, tile backsplash, stainless steel appliances, large great room w/fireplace, covered lanai, wood floors, 9 ft ceilings, deluxe owners bath, tray ceiling in the master, crown molding and so much more! This home has 2 full bedrooms upstairs with a full bathroom and large bonus room! Not only will you adore this beautiful home, you'll enjoy all of the amazing amenities Millbridge has to offer. From walking trails, pools, coffee shops, soon-to-be tennis courts and SO MUCH MORE. If that isn't enough, this home is zoned for high sought after Cuthbertson schools.

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
 

$423,000$517,000$470,000

PURCHASE PRICE

$2,205$2,695$2,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,450
EXPENSES Loan Payment -$1,632
Property Tax -$361
Property Insurance -$81
Property Management Fees -$119
CASH FLOW
$257

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.

$470,000

PROJECTED PRICE

$2,450

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.0%
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$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

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$130,300

INVESTMENT

$130,300

Down Payment
$117,500
Rehab Estimate
$5,750
Closing Costs
$7,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,632

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $117,500
Loan Amount $352,500
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$54,433

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,450

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,449

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,3503$2,4354$2,4505$2,500
$2,500
RENT COMPS ANALYSIS
  • 5010 Henshaw Road Waxhaw, NC 4
    • 4 beds 3 baths ∙ 2,873 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,873 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.85
    •  
  • 1024 Pebble Brook Circle Waxhaw, NC 1
    • 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
    •  
  • 3201 Bridgewick Road Waxhaw, NC 2
    • 4 beds 3 baths ∙ 2,732 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,732 Sqft ∙ Built 2011
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.86
    •  
  • 1037 Bannister Road Waxhaw, NC 3
    • 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
    •  
  • 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
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3711548
Last Updated: 03/06/2021
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