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7725 Farmbrook Drive Waxhaw, NC 28173

4 Beds 3 Baths 2,016 sqft Built 1993

$345,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $171.13
  • 4 Days on Market
  • MLS # : 3692263
  • Updated Date : 12/17/2020 at 21:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,016 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Select

Listing Agent's Description

Get that country feel within minutes from downtown Waxhaw and Ballantyne. Beautiful, recently updated, open concept, split-level that backs up to a creek. This large, comfortable home has plenty of room for family and friends, great for entertaining. There are four bedrooms, a bonus room, three full bathrooms, a great room and a family room. Updated bathrooms and new carpet with high-grade pad. Kitchen includes granite countertops, plenty of real wood cabinets and an island. Oversized two and a half garage with work bench with accessibility outside and into the kitchen that leads onto a newer deck. An abundant amount of space indoors and out with endless potential. Come take a look at this home nestled in south Waxhaw. All appliances included!!!

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
 

$310,500$379,500$345,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$1,273
Property Tax -$265
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
-$102

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.

$345,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.47%

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-$4.0k-$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,273

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$17,257

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,472

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,620
$1,620
RENT COMPS ANALYSIS
  • 7725 Farmbrook Drive Waxhaw, NC 2
    • 4 beds 3 baths ∙ 2,016 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,016 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.80
    •  
  • 7116 Dorey Lane Waxhaw, NC 1
    • 3 beds 4 baths ∙ 2,187 Sqft ∙ Built 2015 3 beds 4 baths ∙ 2,187 Sqft ∙ Built 2015
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.73
    •  
PROPERTY LISTING DETAILS
Felisa Collazos
1.704.941.7665
Keller Williams Select
BESbswy