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7818 Antique Circle Waxhaw, NC 28173

4 Beds 3 Baths 2,589 sqft Built 2002

$324,900

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
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

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
 

$292,410$357,390$324,900

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

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

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$0.0$5.0k$10k$15k$20k

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$91,849

INVESTMENT

$91,849

Down Payment
$81,225
Rehab Estimate
$5,750
Closing Costs
$4,874

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,225
Loan Amount $243,675
See What Happens When You Reinvest Cash Flow

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
$1,799
1$1,7992$1,8403$1,9954$2,1955$2,275
$2,275
RENT COMPS ANALYSIS
  • 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
Joseph Mcmurry
1.980.254.1842
Allen Tate Matthews/mint Hill
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3712494
Last Updated: 03/13/2021
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