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Listed by ONNIT REALTY GROUP
$525,000
Est. payment /mo
6 Beds
4 Baths
2,250 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 2,250 sqft
Price per Sqft $233
MLS Listing ID LP768714
Bedrooms 6
Full Baths 4
HOA Y/N No
Year Built 1955
Property Sub-Type Single Family Residence
Source Doorify MLS
Land Area 2250
Property Description
Income-producing investment portfolio consisting of two properties across three parcels with six current month-to-month leases. The single-family residence is rented by the room under four leases at $900, $700, $700 and $700 per month, while the duplex is leased at $1,300 per side. Total scheduled gross rent is $5,600 per month, with seller-reported net operating income of approximately $3,500 per month, or $42,000 annually, after operating expenses. Based on the $525,000 asking price, the property offers an approximate 8% cap rate. The month-to-month leases provide flexibility and may be converted to long-term leases by agreement with the tenants. This corner-lot assemblage also includes an additional vacant parcel that may offer future development potential, subject to zoning, permitting and governmental approvals. Excellent opportunity for immediate income with room for future growth..
Location
State NC
County Cumberland
Interior
Flooring Luxury Vinyl
Fireplaces Number 1
Fireplace Yes
Exterior
Garage No
Building
Story One
Water Well
New Construction No
Others
Tax ID 0424-78-4687, 0424-78-4651, & 0424-78-4524
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Samantha Hall
Broker in Charge License ID: 294458
Broker in Charge License ID: 294458