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3411 Streamside Drive Davidson, NC 28036

5 Beds 4 Baths 2,638 sqft Built 2014

INVESTimate

$325,000

List Price

$1,800

$1,620 - $1,980

Rent Est.

$343,363  ( +5.65%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2014
  • Price/Sqft : $123.20
  • 6 Days on Market
  • MLS # : 3654307
  • Updated Date : 08/24/2020 at 16:20
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,638 sqft
  • Baths : 4 full
Listing Agent

Re/max Leading Edge

Listing Agent's Description

This former model home in The Farm at Riverpointe in Davidson features a perfect flow and floor plan, gorgeous hardwoods, a full bed/bath on the first floor and an outdoor living area with a kitchen and custom pavers. The sweet covered front porch leads to an impressive foyer flanked by a private home office. The spacious kitchen offers a large pantry, large level island overlooking the breakfast/living area. Behind the custom barn door is a bedroom/bath or could be used a second office space. There is a nice built-in bench and hooks close to the amazing garage. The garage holds all kinds of one-of-a-kind nooks and storage extras. Upstairs offers large bedrooms, a huge master-suite and spa like bathroom and connectivity to the laundry that will change the way you live! There is a huge bonus/bedroom with a separate bathroom to complete this awesome home. All of this and some of Cabarrus county's top schools, low taxes and close proximity to Lake Norman and Concord/ Charlotte.

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: Farm at Riverpointe

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $118k376k

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

Neighborhood: Farm at Riverpointe

NeighborhoodNIR 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
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
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,199
Property Tax -$285
Property Insurance -$77
Property Management Fees -$162
CASH FLOW
$77

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.

$325,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.65%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

6

YEARS SAVED

$26,542

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,734

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6503$1,7254$1,8005$1,850
$1,850
RENT COMPS ANALYSIS
  • 3411 Streamside Drive Davidson, NC 4
    • 5 beds 4 baths ∙ 2,638 Sqft ∙ Built 2014 5 beds 4 baths ∙ 2,638 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.68
    •  
  • 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
    •  
  • 10930 Tailwater Street Davidson, NC 2
    • 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
    •  
  • 3336 Streamside Drive Davidson, NC 3
    • 5 beds 3 baths ∙ 2,624 Sqft ∙ Built 2009 5 beds 3 baths ∙ 2,624 Sqft ∙ Built 2009
    LEASED 03/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.66
    •  
  • 2831 Turquoise Circle Davidson, NC 5
    • 4 beds 3 baths ∙ 2,640 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,640 Sqft ∙ Built 2013
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.70
    •  
PROPERTY LISTING DETAILS
Christy Bradshaw
1.704.492.6161
Re/max Leading Edge
BESbswy