2063 W Bluewater Drive
About This Property
The Fonta Flora State Trail runs directly through the backyard, providing immediate trail access for hiking and biking along one of NC's most celebrated multi-use trail systems - with plans to ultimately connect Morganton to Asheville. Step off your property and onto miles of scenic trails without ever getting in your car.
Lake James offers over 6,500 surface acres and 150+ miles of shoreline for boating, kayaking, paddleboarding, and world-class fishing including largemouth bass, smallmouth bass, walleye, muskie, and crappie. Lake James State Park, Whippoorwill Farm at Fonta Flora Brewery, Linville Gorge Wilderness Area, Grandfather Mountain, the Blue Ridge Parkway, and downtown Morganton's dining and shopping scene are all just minutes away. Asheville and the Biltmore Estate are an easy 45-minute drive.
Properties combining 1.84 acres of direct lakefront, a new infinity pool, and trail-to-backyard connectivity at Lake James are extraordinarily rare. This is Western NC lakefront living at its absolute finest.
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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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Aug 7, 2026 | Sold | ||
| Sold | |||
| Apr 26, 2026 | In contract | - | |
| In contract | |||
| Apr 8, 2026 | Listed by EXP Realty LLC Ballantyne | $1,499,000 | |
| Listed by EXP Realty LLC Ballantyne | |||
| Oct 8, 2022 | No longer available | - | |
| No longer available | |||
| Aug 5, 2022 | Listed by Realty Executives of Hickory | $1,590,000 | |
| Listed by Realty Executives of Hickory | |||
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This modern, European flair home located on 1.84 acres in the Water's Edge gated community was constructed with sustainability in mind, unparalleled design and quality by the Cottonwood Dev Co. The open kitchen with large island for cooking and gathering features a large roll up window with inside/outside bar seating overlooking the beautiful landscape. Primary suite on main floor offers private access to sunning patio and suite upstairs has its own private balcony. Hardiboard, cedar and stone exterior. Two car garage. Electric wall fireplace. Invisible fence. Easy walk to the water & level area for launching your canoe, kayak, and paddlesport equipment. Enjoy the nearby community beach and take a short walk to the adjacent Fonta Flora State Trail and run, bike, walk around the lake. Home can be used as income producing property. This home provides plenty of space to relax and enjoy the beautiful setting that surrounds this dwelling. This manicured RETREAT will not disappoint!! The manager has listed the unit size as 2284 square feet.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017