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17223 Summers Walk Boulevard Davidson, NC 28036

5 Beds 3 Baths 3,111 sqft Built 2013

$425,000

List Price

$2,090

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $136.61
  • 5 Days on Market
  • MLS # : 3709416
  • Updated Date : 02/20/2021 at 07:52
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,111 sqft
  • Baths : 3 full
Listing Agent

Call It Closed International Inc

Listing Agent's Description

Beautiful home in Davidson's exclusive Summers Walk! Near sprawling community pool and club house. This 5 bedroom 3 full bath home is zoned for Davidson schools & is a short walk to the popular Bradford Store and Carolina Thread Trail. Community features include sidewalks, wide streets with bike lane, and many regular social activities including fitness groups. Popular open concept floor plan boasts many upgrades. Kitchen with white cabinets, granite, walk in AND butler's pantries, breakfast bar, Bosch dishwasher & dining area. Formal dining room and guest suite are also on main level. Gas log fireplace gives cozy comfort on winter mornings. Upstairs owner suite with tray ceiling, soaking tub and large walk in closet. Huge bonus room with vinyl plank floors has double closets. One of the secondary bedrooms offers built in bunk beds, desk and dresser. Garage doors are extended height to accommodate taller vehicles. Tankless water heater for endless steamy showers! This home has it all!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 28036

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $118k377k

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

Zip Code: 28036

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8442024

* 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
Bailey Middle School Middle Regular 1,616 77 9
William Amos Hough High School High Regular 2,453 120 8
Bailey Middle School Middle Unknown NA

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

Bailey Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

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

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$1,476
Property Tax -$353
Property Insurance -$86
HOA -$78
Property Management Fees -$119
CASH FLOW
-$22

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

$2,090

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 7.0%
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$1.2M$1.4M

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

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 50% 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

5.25

YEARS SAVED

$23,213

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,090

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $2,077

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$1,885
1$1,8852$1,9953$2,0004$2,0905$2,200
$2,200
RENT COMPS ANALYSIS
  • 17223 Summers Walk Boulevard Davidson, NC 4
    • 5 beds 3 baths ∙ 3,111 Sqft ∙ Built 2013 5 beds 3 baths ∙ 3,111 Sqft ∙ Built 2013
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $0.67
    •  
  • 2850 Bivins Street Davidson, NC 1
    • 4 beds 3 baths ∙ 2,960 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,960 Sqft ∙ Built 2008
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,885
    • $0.64
    •  
  • 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
    •  
  • 10925 Trout Creek Place Davidson, NC 3
    • 5 beds 4 baths ∙ 3,037 Sqft ∙ Built 2007 5 beds 4 baths ∙ 3,037 Sqft ∙ Built 2007
    property image
    LEASED 02/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.66
    •  
  • 1267 Middlecrest Drive Concord, NC 5
    • 5 beds 3 baths ∙ 3,200 Sqft ∙ Built 2009 5 beds 3 baths ∙ 3,200 Sqft ∙ Built 2009
    property image
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.69
    •  
PROPERTY LISTING DETAILS
David Doty
1.704.780.3084
Call It Closed International Inc
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3709416
Last Updated: 02/20/2021
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