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5307 Baywood Drive Waxhaw, NC 28173

3 Beds 2 Baths 2,118 sqft Built 1997

$369,900

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $174.65
  • 10 Days on Market
  • MLS # : 3688856
  • Updated Date : 12/12/2020 at 13:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,118 sqft
  • Baths : 2 full
Listing Agent

Better Homes And Gardens Real Estate Paracle

Listing Agent's Description

Welcome to this Beautiful Home on Nearly an Acre in Waxhaw with a Low HOA! A Wonderful Home Featuring 3 Bedrooms, 2 Bathrooms all on the Main Floor. Enjoy The Beautiful Sunroom Right off the Kitchen and Living Room. Your Backyard Oasis is Complete with a Workshop and Outdoor Shed with Power!

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
Wesley Chapel Elementary School Primary Regular 550 30 7
Cuthbertson Middle School Middle Regular 1,132 59 10
Cuthbertson High School High Regular 1,449 69 9

Wesley Chapel Elementary School

  • Education Level: Primary
  • # of students: 550
  • # of teachers: 30
7
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
 

$332,910$406,890$369,900

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,365
Property Tax -$284
Property Insurance -$67
HOA -$4
Property Management Fees -$119
CASH FLOW
-$149

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.

$369,900

PROJECTED PRICE

$1,690

PROJECTED RENT

0.46%

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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

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$103,774

INVESTMENT

$103,774

Down Payment
$92,475
Rehab Estimate
$5,750
Closing Costs
$5,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,365

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,475
Loan Amount $277,425
See What Happens When You Reinvest Cash Flow

3.75

YEARS SAVED

$15,205

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,737

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6903$1,7954$1,975
$1,975
RENT COMPS ANALYSIS
  • 5307 Baywood Drive Waxhaw, NC 2
    • 3 beds 2 baths ∙ 2,118 Sqft ∙ Built 1997 3 beds 2 baths ∙ 2,118 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.80
    •  
  • 1202 Haden Drive Waxhaw, NC 1
    • 4 beds 3 baths ∙ 2,001 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,001 Sqft ∙ Built 2003
    LEASED 10/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.80
    •  
  • 1425 Lonan Drive Waxhaw, NC 3
    • 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 2005
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.78
    •  
  • 1945 Napa Valley Drive Waxhaw, NC 4
    • 3 beds 3 baths ∙ 2,299 Sqft ∙ Built 3 beds 3 baths ∙ 2,299 Sqft ∙ Built
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.86
    •  
PROPERTY LISTING DETAILS
Reggy Jr Gaddy
1.704.242.3789
Better Homes And Gardens Real Estate Paracle
BESbswy