447 Tuskarora Trail, Mooresville, Nc main
447 Tuskarora Trail, Mooresville, Nc two
447 Tuskarora Trail, Mooresville, Nc three
447 Tuskarora Trail, Mooresville, Nc four
447 Tuskarora Trail, Mooresville, Nc five

Lake Norman, NC Dreaming

8 available shares

adjust possible shares to see calculations for more or less people

$3,500,000

target home price

$437,500

cost per share

$3,851 / mo

monthly cost

CASH AT CLOSING PER SHARE
Down Payment
$87,500
Closing Cost
$26,250
Reserve Fund Deposit
$13,125
Total Cash at Closing
$126,875
Co-own this home
Details
4 bedrooms | 6 bath | 6,247 sqft

Looking for a waterfront Lake Norman oasis with three other buyers. Minimum 4 bedrooms with waterfront amenities and dock. Lake Norman is just 40 minute drive to Charlotte Douglas International Airport. Co-owners are like minded individuals looking for the perfect family retreat. Combined LLC partners can discuss pros/cons of exclusive ownership use, or selective rental opportunities to defray costs.

I'm interested
House Usage
  • 8 shares total
  • 6 weeks a year per share
Amenities
This home includes:
  • Dock
  • Fire place
  • Porch
  • Waterfront
About the Agent

Frances Dawson

Re/Max

I have lived in the Lake Norman area of North Carolina for 14 years. I love time spent on the lake relaxing, going to dinner with friends and enjoying Lake Norman festivals and events. While Lake Norman is a community unto itself, I love being just 30 minutes away from Charlotte and all that a large city can offer. If I want a quick weekend getaway, I can be in the Smoky Mountains in two hours or at the beach in just 4 hours. It is just the perfect place to live and raise a family. Let me assist you in making Lake Norman your new home!! Frances

Calculated Costs per Share

Lake Norman, NC Dreaming
447 Tuskarora Trail, Mooresville, NC
CASH AT CLOSING PER SHARE
Down Payment
$87,500
Closing Cost
$26,250
Reserve Fund Deposit
$13,125
Total Cash at Closing
$126,875

This is an estimate of the amount of cash needed when closing on the purchase of a property financed with a 30 year Mortgage at 8.0% interest rate.

Plum’s estimate includes 20% of the value of the house as a down payment, 6% of the value of the house for closing costs (including Plum’s Group Success Fee) and 3% of the value of the house for the initial reserve fund.

ESTIMATED MONTHLY EXPENSES PER SHARE
Mortgage Payment
$2,568
Insurance/Taxes
$474
Repairs
$365
Maintenance
$365
Utilities
$51
Cleaning
$28
Total Expenses
$3,851
This total is an estimate of all the expected costs associated with owning a vacation home with a Plum certified ownership agreement.
Location, type of house, changes in interest rates and utilities can all change and affect the monthly cost throughout the term of ownership.
ESTIMATED MONTHLY INCOME PER SHARE
Monthly Income
$4,375
Total Monthly Income
$4,375

A good threshold for rental property investment is the 1% Rule (source). It states that you should only invest in rental property if you are reasonably confident that the property can rent for 1% of the sale price per month.

We’ve included that assumption here. It is critical that the group validate pricing, rental history, and future rental projections of any specific property before proceeding with a purchase. You can explore rental incomes of any property with this free estimation tool at Rabbu.com.

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