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8601 Gold Rush Court #113 Waxhaw, NC 28173

3 Beds 2 Baths 2,077 sqft Built 2020

$289,900

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $139.58
  • 2 Days on Market
  • MLS # : 3703618
  • Updated Date : 01/30/2021 at 10:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,077 sqft
  • Baths : 2 full
Listing Agent

H&h Homes Realty, Llc

Listing Agent's Description

The VINCA with 2077 sq feet is Main Street Station’s 1.5 story home! You will always find your favorite VINCA as an end unit with extra windows for maximum light in your new home! All of our VINCA plans have 3 bedrooms with 2 or 3 full baths. The open floor plan ensures that the cook is always part of the action! Cabinets are in abundance with granite countertops and a BIG island with your sink. Don’t forget the walk in pantry, which is the perfect size for your snacks. A separate laundry room is just another great feature. Privacy is a great thing to have, as you pull into your two car garage. This makes bringing your groceries right into the kitchen a plus! Our homes are built with 2x6 exterior walls. Those thick walls with a 14 seer TRANE mechanical unit, will give your HUGE savings on your utility costs. With a monthly cost of $135 for your HOA, all mowing is done by us

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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
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
 

$260,910$318,890$289,900

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$1,007
Property Tax -$222
Property Insurance -$66
HOA -$135
Property Management Fees -$119
CASH FLOW
-$40

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$289,900

PROJECTED PRICE

$1,510

PROJECTED RENT

0.52%

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) 3.00%
Vacancy 6.31%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$78,824

INVESTMENT

$78,824

Down Payment
$72,475
Rehab Estimate
$2,000
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$13,433

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,553

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,490
1$1,4902$1,4953$1,5104$1,5955$1,645
$1,645
RENT COMPS ANALYSIS
  • 8601 Gold Rush Court Waxhaw, NC 3
    • 3 beds 2 baths ∙ 2,077 Sqft ∙ Built 2020 3 beds 2 baths ∙ 2,077 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.73
    •  
  • 4705 Waterbell Lane Waxhaw, NC 1
    • 4 beds 3 baths ∙ 1,926 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,926 Sqft ∙ Built 2003
    property image
    LEASED 02/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.77
    •  
  • 8220 Poplar Grove Circle Waxhaw, NC 2
    • 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 1996
    property image
    LEASED 12/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.75
    •  
  • 221 Leafmore Court Waxhaw, NC 4
    • 3 beds 2 baths ∙ 2,327 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,327 Sqft ∙ Built 2000
    property image
    LEASED 09/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.69
    •  
  • 113 Southcliff Drive Waxhaw, NC 5
    • 4 beds 3 baths ∙ 2,101 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,101 Sqft ∙ Built 1999
    property image
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.78
    •  
PROPERTY LISTING DETAILS
Judy Spector
1.704.259.7123
H&h Homes Realty, Llc
BESbswy