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PROPERTY INFO
FACTS
- Single Family
- Built In 2002
- Price/Sqft : $125.49
- 5 Days on Market
- MLS # : 3712494
- Updated Date : 03/13/2021 at 00:05
CONSTRUCTION
- Beds : 4
- Floor Size : 2,589 sqft
- Baths : 2 full , 1 half
Listing Agent
Allen Tate Matthews/mint Hill
Listing Agent's Description
This 4 bedroom, 2.5 bath home offers a tremendous amount of space with nearly 2600 square feet of living area. The two story foyer and beautiful wood floor welcomes you and your guests. Formals on either side, and the trey ceiling in the Dining Room adds to the elegance of the room. Stainless appliances in the kitchen that overlooks the breakfast nook and large family room with gas fireplace. Powder room on the main floor for guests to enjoy privacy. Venturing upstairs, one glance at the Owner's Bath and you'll be hooked! This recently updated retreat is elegantly appointed with tile and glass, dual vanity, and just the right touches to make it feel luxurious. The large walk-in-closet compliments this impressive owners suite with plenty of room for your bedroom furniture. Additional large bedrooms, bedroom/bonus and hall bath round out the upstairs. Very nice yard on this .25 acre lot with room to play and space to relax on the large concrete patio. So much to love about this house!
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 | $1,840 |
| EXPENSES | Loan Payment | -$1,129 |
| Property Tax | -$249 | |
| Property Insurance | -$76 | |
| HOA | -$25 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$242
|
||
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.
$324,900
PROJECTED PRICE
$1,840
PROJECTED RENT
0.57%
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
$91,849
LOAN DETAILS
$1,129
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $81,225 |
| Loan Amount | $243,675 |
9.5
YEARS SAVED
$43,517
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,840
LIST RENT -
$0.71
LIST RENT PER SQFT
-
$1,981
COMP ESTIMATED VALUE -
$0.77
COMP AVG. RENT PER SQFT
Comps Range
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7818 Antique Circle Waxhaw, NC 2
- 4 beds 3 baths ∙ 2,589 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,589 Sqft ∙ Built 2002
- Rent
- Rent Per SQFT
- $1,840
- $0.71
-
7904 Spanish Oaks Drive Waxhaw, NC 1
- 4 beds 3 baths ∙ 2,528 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,528 Sqft ∙ Built 2000
LEASED 07/28/20- Rent
- Rent Per SQFT
- $1,799
- $0.71
-
2019 Oakmere Road Waxhaw, NC 3
- 3 beds 3 baths ∙ 2,750 Sqft ∙ Built 2011 3 beds 3 baths ∙ 2,750 Sqft ∙ Built 2011
LEASED 05/19/20- Rent
- Rent Per SQFT
- $1,995
- $0.73
-
3024 Fallondale Road Waxhaw, NC 4
- 4 beds 3 baths ∙ 2,630 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,630 Sqft ∙ Built 2013
LEASED 07/01/20- Rent
- Rent Per SQFT
- $2,195
- $0.83
-
2002 Fallondale Road Waxhaw, NC 5
- 5 beds 3 baths ∙ 2,867 Sqft ∙ Built 2012 5 beds 3 baths ∙ 2,867 Sqft ∙ Built 2012
LEASED 06/19/20- Rent
- Rent Per SQFT
- $2,275
- $0.79
PROPERTY LISTING DETAILS
1.980.254.1842
Allen Tate Matthews/mint Hill
MLS #: 3712494
Last Updated: 03/13/2021
