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Listed by ONNIT REALTY GROUP
$ 460,000
Est. payment | /mo
$ 460,000
Est. payment | /mo
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
MLS Listing ID LP768563
HOA Y/N No
Source Doorify MLS
Property Description
Income-producing investment portfolio consisting of two properties across three parcels with six current month-to-month rental agreements. The four-bedroom residence at 3560 Tart Street is rented by the room at $800, $600, $400 and $500 per month. The duplex at 3552 Tart Street is occupied at $325 per week per side. Based on the current rent schedule, the portfolio generates approximately $61,400 in annual gross income, averaging approximately $5,117 per month. The seller reports net operating income of approximately $3,500 per month, or $42,000 annually, after operating expenses. Based on the new $499,000 asking price, the property offers an estimated 8.4% cap rate. The month-to-month agreements provide flexibility and may be converted to long-term leases by agreement with the occupants. 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. Buyer to independently verify all income, expenses, leases, square footage and development potential.
Location
State NC
County Cumberland
Interior
Fireplace No
Exterior
Utilities Available Natural Gas Not Available
Garage No
Building
Water Well
New Construction No
Others
Tax ID 0424-78-4687, 0424-78-4651, & 0424-78-4524
Nearby Locations
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600 Park Offices Drive, 350, Durham, North Carolina 27709, USA