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6721 Loblolly Circle Waxhaw, NC 28173

3 Beds 2 Baths 1,604 sqft Built 1992

$309,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $192.64
  • 16 Days on Market
  • MLS # : 3691532
  • Updated Date : 12/31/2020 at 00:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,604 sqft
  • Baths : 2 full
Listing Agent

Keller Williams South Park

Listing Agent's Description

Charming 3 bed/2 bath ranch in Providence Pines. New vinyl plank flooring throughout, new HVAC in 2017, new water heater in 2019 are some of the most recent upgrades in this beauty. You'll love cozying up in front of the wood burning stove with a good book on a cool evening. Vaulted ceiling in the kitchen and arched doorways are just a few of the eye catching features in this lovely home. Amazing split bedroom floorpan gives you a little extra privacy when out of town guest pop into town for the weekend. French doors lead you into the owners suite that houses a walk in closet. Large deck out back with rock stone patio overlooking sprawling acreage and fenced in yard. Storage shed is perfect to hold any items for yard work, outdoor activities or whatever your heart desires. Small horse stable with electricity at the back of the property. This home is one you won’t want to miss! Convenient to downtown Waxhaw!

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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
Western Union Elementary School Primary Regular 660 48 7
Parkwood Middle School Middle Regular 965 55 7
Parkwood High School High Regular 1,006 57 5

Western Union Elementary School

  • Education Level: Primary
  • # of students: 660
  • # of teachers: 48
7
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
 

$278,100$339,900$309,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$1,140
Property Tax -$237
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
-$53

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.

$309,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.49%

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,635

INVESTMENT

$87,635

Down Payment
$77,250
Rehab Estimate
$5,750
Closing Costs
$4,635

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,140

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,250
Loan Amount $231,750
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$18,909

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,283

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,500
$1,500
RENT COMPS ANALYSIS
  • 6721 Loblolly Circle Waxhaw, NC 2
    • 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.94
    •  
  • 5405 Parkwood School Road Waxhaw, NC 1
    • 3 beds 2 baths ∙ 1,881 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,881 Sqft ∙ Built 2020
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.80
    •  
PROPERTY LISTING DETAILS
Kristen Bernard
1.704.300.0855
Keller Williams South Park
BESbswy