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15608 Queens Trail Drive # Lot 215 Davidson, NC 28036

5 Beds 4 Baths 3,184 sqft Built 2020

INVESTimate

$426,863

List Price

$2,440

$2,196 - $2,684

Rent Est.

$456,743  ( +7.00%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $134.07
  • 3 Days on Market
  • MLS # : 3655081
  • Updated Date : 08/24/2020 at 14:36
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,184 sqft
  • Baths : 4 full
Listing Agent

Lennar Sales Corp

Listing Agent's Description

Spacious Traditional style home with a downstairs bedroom and formal dining room on 1st floor. The light filled great room with fireplace is open to a Gourmet Kitchen with a large dining area, big island, walk-in pantry, stainless steel appliances including a Double Oven, Gas Cook Top, Vented Microwave. The second floor features a large Owners Suite, Large Owners Bath, His and Hers Sinks, over-sized Walk-In Closet and a large bonus room.

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: Davidson East

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $118k585k

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

Neighborhood: Davidson East

ZipNIR 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
Davidson Elementary School Primary Regular 693 37 6
Bailey Middle School Middle Regular 1,616 77 9
William Amos Hough High School High Regular 2,453 120 8

Davidson Elementary School

  • Education Level: Primary
  • # of students: 693
  • # of teachers: 37
6
GreatSchools Rating

Bailey Middle School

  • Education Level: Middle
  • # of students: 1,616
  • # of teachers: 77
9
GreatSchools Rating

William Amos Hough High School

  • Education Level: High
  • # of students: 2,453
  • # of teachers: 120
8
GreatSchools Rating
 

$384,177$469,549$426,863

PURCHASE PRICE

$2,196$2,684$2,440

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,440
EXPENSES Loan Payment -$1,575
Property Tax -$352
Property Insurance -$87
HOA -$63
Property Management Fees -$220
CASH FLOW
$143

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.

$426,863

PROJECTED PRICE

$2,440

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 7.00%
Maintenance Year (1-5) 3.00%
Vacancy 6.36%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,119

INVESTMENT

$115,119

Down Payment
$106,716
Rehab Estimate
$2,000
Closing Costs
$6,403

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,575

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,716
Loan Amount $320,147
See What Happens When You Reinvest Cash Flow

7

YEARS SAVED

$43,632

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,440

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,388

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,875
1$1,8752$1,9953$2,4404$2,8005$2,850
$2,850
RENT COMPS ANALYSIS
  • 15608 Queens Trail Drive Davidson, NC 3
    • 5 beds 4 baths ∙ 3,184 Sqft ∙ Built 2020 5 beds 4 baths ∙ 3,184 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,440
    • $0.77
    •  
  • 10925 Trout Creek Place Davidson, NC 1
    • 5 beds 4 baths ∙ 3,037 Sqft ∙ Built 2007 5 beds 4 baths ∙ 3,037 Sqft ∙ Built 2007
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.62
    •  
  • 11266 Trailside Road Concord, NC 2
    • 4 beds 3 baths ∙ 2,922 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,922 Sqft ∙ Built 2018
    property image
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.68
    •  
  • 17526 Shearer Road Davidson, NC 4
    • 4 beds 4 baths ∙ 3,489 Sqft ∙ Built 2019 4 beds 4 baths ∙ 3,489 Sqft ∙ Built 2019
    property image
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.80
    •  
  • 18604 Dembridge Drive Sw Davidson, NC 5
    • 4 beds 3 baths ∙ 3,176 Sqft ∙ Built 1996 4 beds 3 baths ∙ 3,176 Sqft ∙ Built 1996
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.90
    •  
PROPERTY LISTING DETAILS
Gary Young
1.407.921.5648
Lennar Sales Corp
BESbswy