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Burke 28655 South Pointe
1837 Southpointe Drive
$470,000
● Land - Off Market

1837 Southpointe Drive

Morganton, NC 28655
bedrooms
Studio
bathrooms
0 Bath
$2,541
Est. Monthly
$86
HOA / Fees
1.68%
Cap Rate

About This Property

Stunning lakefront lot with dock in desirable Southpointe location! This is a rare opportunity to own lakefront real estate! This lot features access to water and sewer, boasts a fantastic dock for entertaining and boat storage, and access to the Southpointe Community pool and clubhouse! Come build your dream home on Lake James! This one won't last long!
Unit Size
-
Days on Market
-
Land Size
0.66 acres
Price per sqft
-
Property Type
Land
Property Taxes
-
HOA Dues
$86
Year Built
-

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Cap Rate Calculator

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Cap Rate 100% Occupancy
N/A (extreme outlier)

What does this mean?

Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.

How much can I actually make?

Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.

How is cap rate calculated?

Cap Rate = Net Operating Income (NOI) / Property Asset Value.

When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.

Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.

Last updated: 3 years ago (CANOPYMLS #CAR4167243)

Price History

Date / Event Date Event Price
Sep 20, 2024 Sold
Premium
Sold
Sep 4, 2024 In contract -
In contract
Aug 21, 2024 Listed by GreyBeard Realty $499,900
Listed by GreyBeard Realty
Sep 1, 2021 Sold
Premium
Sold

Property Highlights

With View

Building Info

Overview

    General

  • Bedroom Count: 0
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 28,750
  • Total Building Area: 0
  • Building Area: 0

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: SOUTHPOINTE SUBDIVISION
  • Land Acres: 0000000660
  • Standard Land Use Code: 0027
  • Legal Description 1: 1837 SOUTHPOINTE DR MORGANTON, NC 28655

Neighborhood

  • School District Name: Burke County Schools
  • School Tax School District: LAKE JAMES FD T
  • School Tax District Code 2: BURKE COUNTY TA
  • Census Tract: 021400

Zoning

  • Zoning: RESIDENTIA

Geography

  • District: 107
  • Parcel: 52423
  • Municipality: LINVILLE
  • Latitude: 35.7588
  • Longitude: -81.8322

    Address

  • Full Address: 1837 Southpointe Dr
  • Address - House Number: 1837
  • Address - Street Name: Southpointe
  • Address - Suffix Type: Dr
  • State: NC
  • City Name: Morganton
  • Zip Code: 28655

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $241,952
  • Tax Rate Code Area: 6519

    Appraisal Valuation

  • Standard Deviation: 0.2661
  • Valuation Date: Sep 21, 2023
  • Confidence Score: 62
  • Final Value: 458,638
  • High Value: 580,697
  • Low Value: 336,579

    Market Valuation

  • Market Total Value: $378,050
  • Market Land Value: $364,100
  • Market Improvement Value: $13,950

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $378,050
  • Assessed Land Value: $364,100
  • Assessed Improvements Value: $13,950

    Sales

  • Current Sale Contract Date: Aug 30, 2021
  • Current Sale Recording Date: Sep 01, 2021
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 10458
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About South Pointe

Stats & Trends

Median Asking:

$1,199,999

Sale Price/ft²

$316

Below Asking

0.02%

Average Days on Market

78

Average Home Size

4322 ft²

Average Home Age

19.2 years

Currently For Sale

5 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

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CANOPYMLS

Listed by: Ameliah Davidson, GreyBeard Realty
Last Updated: 3 years ago
Data Source: CANOPYMLS, MLS# CAR4167243
Details provided by CANOPYMLS as Distributed by MLS Grid and may not match the public record.
All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

Frequently Asked Questions

When was property at 1837 Southpointe Drive built and last sold?
The property at 1837 Southpointe Drive was built in and last sold on Aug 30, 2021 for $359,000.
How much is this home worth?
The estimated value of the home located at 1837 Southpointe Drive is $0.
What are some comparable homes to 1837 Southpointe Drive?
There are currently no comparable homes to 1837 Southpointe Drive.
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