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

15612 Queens Trail Drive # Lot 214 Davidson, NC 28036

4 Beds 4 Baths 3,162 sqft Built 2020

INVESTimate

$424,754

List Price

$2,150

$1,935 - $2,365

Rent Est.

$454,487  ( +7.00%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $134.33
  • 4 Days on Market
  • MLS # : 3654774
  • Updated Date : 08/23/2020 at 15:35
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,162 sqft
  • Baths : 3 full , 1 half
Listing Agent

Lennar Sales Corp

Listing Agent's Description

Spacious Traditional style home with a study and formal dining. 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 gas range and Vented Microwave. The second floor features a large Owners Suite with a Large Master Bath, His and Hers Sinks and an over sized Walk-In Closet. You also have 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
 

$382,279$467,229$424,754

PURCHASE PRICE

$1,935$2,365$2,150

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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 $2,150
EXPENSES Loan Payment -$1,567
Property Tax -$350
Property Insurance -$87
HOA -$63
Property Management Fees -$194
CASH FLOW
-$111

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.

$424,754

PROJECTED PRICE

$2,150

PROJECTED RENT

0.51%

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$114,560

INVESTMENT

$114,560

Down Payment
$106,189
Rehab Estimate
$2,000
Closing Costs
$6,371

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,567

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,189
Loan Amount $318,566
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$17,072

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $2,134

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,699
1$1,6992$1,8753$1,9954$2,1505$2,800
$2,800
RENT COMPS ANALYSIS
  • 15612 Queens Trail Drive Davidson, NC 4
    • 4 beds 4 baths ∙ 3,162 Sqft ∙ Built 2020 4 beds 4 baths ∙ 3,162 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.68
    •  
  • 17311 Silas Place Drive Davidson, NC 1
    • 3 beds 3 baths ∙ 2,855 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,855 Sqft ∙ Built 2010
    LEASED 12/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.60
    •  
  • 10925 Trout Creek Place Davidson, NC 2
    • 5 beds 4 baths ∙ 3,037 Sqft ∙ Built 2007 5 beds 4 baths ∙ 3,037 Sqft ∙ Built 2007
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.62
    •  
  • 11266 Trailside Road Concord, NC 3
    • 4 beds 3 baths ∙ 2,922 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,922 Sqft ∙ Built 2018
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.68
    •  
  • 17526 Shearer Road Davidson, NC 5
    • 4 beds 4 baths ∙ 3,489 Sqft ∙ Built 2019 4 beds 4 baths ∙ 3,489 Sqft ∙ Built 2019
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.80
    •  
PROPERTY LISTING DETAILS
Eric Sherman
1.980.297.3768
Lennar Sales Corp
BESbswy