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PROPERTY INFO
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
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 28173
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$97,175
LOAN DETAILS
$1,273
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $86,250 |
| Loan Amount | $258,750 |
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
-
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
1.704.941.7665
Keller Williams Select
