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5124 Natural Path Lane Waxhaw, NC 28173

3 Beds 2 Baths 1,856 sqft Built 2021

$362,964

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $195.56
  • 2 Days on Market
  • MLS # : 3720390
  • Updated Date : 03/20/2021 at 17:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,856 sqft
  • Baths : 2 full
Listing Agent

Broadstreet Realty, Llc

Listing Agent's Description

Brand New Berkeley design features 3BR/2BA - Open concept ranch plan with designer kitchen offering a large island, white cabinetry, granite counters, stainless steel appliances, tile backsplash and pendant lighting! Spacious great room, luxury owners' suite with tiled bath and walk-in closet. Covered patio, two-car garage, plus our steel frame construction and energy saving features! Grove Manor is an amenity-rich community just 2 miles to downtown Waxhaw featuring a community clubhouse, fun pickleball court, connection to Carolina Thread Trail - plus yard maintenance is provided by the HOA. Ask about our extensive list of included features!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$326,668$399,260$362,964

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,261
Property Tax -$278
Property Insurance -$62
HOA -$175
Property Management Fees -$119
CASH FLOW
-$145

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.

$362,964

PROJECTED PRICE

$1,750

PROJECTED RENT

0.48%

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

PROJECTED ANNUAL CASH FLOW

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

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$98,185

INVESTMENT

$98,185

Down Payment
$90,741
Rehab Estimate
$2,000
Closing Costs
$5,444

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,261

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $90,741
Loan Amount $272,223
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$10,217

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,800

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7503$1,7954$1,9955$1,995
$1,995
RENT COMPS ANALYSIS
  • 5124 Natural Path Lane Waxhaw, NC 2
    • 3 beds 2 baths ∙ 1,856 Sqft ∙ Built 2021 3 beds 2 baths ∙ 1,856 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.94
    •  
  • 4002 Garfield Court Waxhaw, NC 1
    • 4 beds 3 baths ∙ 1,870 Sqft ∙ Built 2002 4 beds 3 baths ∙ 1,870 Sqft ∙ Built 2002
    LEASED 05/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.91
    •  
  • 2033 White Cedar Lane Waxhaw, NC 3
    • 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 2005
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.90
    •  
  • 7816 Antique Circle Waxhaw, NC 4
    • 4 beds 3 baths ∙ 1,988 Sqft ∙ Built 2002 4 beds 3 baths ∙ 1,988 Sqft ∙ Built 2002
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.00
    •  
  • 2001 Oakmere Road Waxhaw, NC 5
    • 3 beds 2 baths ∙ 1,865 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,865 Sqft ∙ Built 2010
    LEASED 02/27/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.07
    •  
PROPERTY LISTING DETAILS
Brian Iagnemma
1.704.243.5322
Broadstreet Realty, Llc
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3720390
Last Updated: 03/20/2021
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