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2831 Turquoise Circle Davidson, NC 28036

4 Beds 3 Baths 2,640 sqft Built 2013

$330,000

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2013
  • Price/Sqft : $125.00
  • 2 Days on Market
  • MLS # : 3678395
  • Updated Date : 11/02/2020 at 07:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,640 sqft
  • Baths : 2 full , 1 half
Listing Agent

Northpoint Asset Management

Listing Agent's Description

Impeccably maintained spacious home in the popular Waterford Community. All Hardwood flooring on lower level. Big entry hall with an office in the front, formal dining room open to the great room with gas fireplace. Granite counters with stainless appliances in the kitchen and a breakfast area. Upstairs features a large laundry room, loft, and 3 oversized guest bedrooms with walk in closets. Spacious master with double vanities and huge master closet. Close commute to Huntersville, Charlotte, and Concord. Community amenities include swimming pool, playground, and walking trails. Tenants will be out November 15.

SEE MORE

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

Neighborhood: Waterford

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $118k376k

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

Neighborhood: Waterford

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800190020002100Rent in $8442178

* 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
W R Odell Elementary School Primary Regular 882 52 NA
Harris Road Middle School Middle Regular 1,185 63 9
Cox Mill High School High Regular 1,478 76 7

W R Odell Elementary School

  • Education Level: Primary
  • # of students: 882
  • # of teachers: 52
NA
GreatSchools Rating

Harris Road Middle School

  • Education Level: Middle
  • # of students: 1,185
  • # of teachers: 63
9
GreatSchools Rating

Cox Mill High School

  • Education Level: High
  • # of students: 1,478
  • # of teachers: 76
7
GreatSchools Rating
 

$297,000$363,000$330,000

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$1,218
Property Tax -$280
Property Insurance -$77
HOA -$55
Property Management Fees -$156
CASH FLOW
-$55

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.

$330,000

PROJECTED PRICE

$1,730

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 4.7%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,218

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$13,929

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $1,749

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6503$1,6504$1,7305$1,900
$1,900
RENT COMPS ANALYSIS
  • 2831 Turquoise Circle Davidson, NC 4
    • 4 beds 3 baths ∙ 2,640 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,640 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.66
    •  
  • 10911 Sand River Court Davidson, NC 1
    • 4 beds 3 baths ∙ 2,499 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,499 Sqft ∙ Built 2007
    LEASED 12/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.64
    •  
  • 3380 Merchant Lane Davidson, NC 2
    • 4 beds 2 baths ∙ 2,351 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,351 Sqft ∙ Built 2006
    LEASED 10/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.70
    •  
  • 10930 Tailwater Street Davidson, NC 3
    • 4 beds 4 baths ∙ 2,688 Sqft ∙ Built 2010 4 beds 4 baths ∙ 2,688 Sqft ∙ Built 2010
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.61
    •  
  • 10832 Clark Street Davidson, NC 5
    • 5 beds 3 baths ∙ 2,800 Sqft ∙ Built 5 beds 3 baths ∙ 2,800 Sqft ∙ Built
    LEASED 06/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.68
    •  
PROPERTY LISTING DETAILS
Morgan Deprofio
1.704.560.0324
Northpoint Asset Management
BESbswy