Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

9009 Dartington Lane Waxhaw, NC 28173

4 Beds 3 Baths 2,705 sqft Built 2000

$425,000

List Price

$2,390

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $157.12
  • 5 Days on Market
  • MLS # : 3714778
  • Updated Date : 03/11/2021 at 12:55
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,705 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Ballantyne Area

Listing Agent's Description

Incredible opportunity to own this beautiful home in the highly desired community, Somerset! Gorgeous yard and landscaping. Guest room downstairs with a full bath and 2 story great room filled with an abundance of natural light. Large kitchen is full of upgrades including SS appliances, butlers pantry and tray ceilings in the dining room! Upper level offers the master suite with tray ceilings, spacious secondary bedrooms and spacious loft. This home has been meticulously cared for inside and out. New HVAC system. A short walk to the clubhouse, pool, playground and tennis courts. A great location – Easy access to I-485, proximity to popular Blakeney, Rea Farms and Waverly shopping areas. Highly desired Marvin schools! **SHOWINGS START SATURDAY 3/13/2021 AT 1 PM**

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

Neighborhood: Somerset

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $118k585k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Somerset

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $8442955

* 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
Rea View Elementary School Primary Regular 654 36 8
Marvin Ridge Middle School Middle Regular 1,264 68 9
Marvin Ridge High School High Regular 1,573 78 10

Rea View Elementary School

  • Education Level: Primary
  • # of students: 654
  • # of teachers: 36
8
GreatSchools Rating

Marvin Ridge Middle School

  • Education Level: Middle
  • # of students: 1,264
  • # of teachers: 68
9
GreatSchools Rating

Marvin Ridge High School

  • Education Level: High
  • # of students: 1,573
  • # of teachers: 78
10
GreatSchools Rating
 

$382,500$467,500$425,000

PURCHASE PRICE

$2,151$2,629$2,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,390
EXPENSES Loan Payment -$1,476
Property Tax -$326
Property Insurance -$78
HOA -$51
Property Management Fees -$119
CASH FLOW
$339

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.

$425,000

PROJECTED PRICE

$2,390

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 4.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.36%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

10.08

YEARS SAVED

$62,031

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,390

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,577

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,3903$2,4004$2,4955$2,495
$2,495
RENT COMPS ANALYSIS
  • 9009 Dartington Lane Waxhaw, NC 2
    • 4 beds 3 baths ∙ 2,705 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,705 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $0.88
    •  
  • 9518 Ridgeforest Drive Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,550 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,550 Sqft ∙ Built 2006
    property image
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.86
    •  
  • 407 Amersham Lane Waxhaw, NC 3
    • 5 beds 3 baths ∙ 2,549 Sqft ∙ Built 2001 5 beds 3 baths ∙ 2,549 Sqft ∙ Built 2001
    property image
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.94
    •  
  • 8504 Tonawanda Drive Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,750 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,750 Sqft ∙ Built 1994
    property image
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.91
    •  
  • 400 Pembroke Lane Waxhaw, NC 5
    • 4 beds 3 baths ∙ 2,548 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,548 Sqft ∙ Built 1999
    property image
    LEASED 02/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.98
    •  
PROPERTY LISTING DETAILS
Thomas Elrod
1.704.228.6900
Keller Williams Ballantyne Area
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3714778
Last Updated: 03/11/2021
BESbswy