905 N Park Road
Burlington, NC 27217
816 sqft | 2 beds | 1 bath | 0.17 acres | #10072297
Description
This charming ranch-style home on a .18-acre lot offers great potential for rental income growth. Located just a short walk from North Park, the property features two cozy bedrooms with carpeting, a bathroom with a tub/shower combo and vinyl flooring, and a covered front porch. Currently rented at $570/month through the Graham Housing Authority on a month-to-month lease, this is well below market value and has just been approved for an increase to $925/month starting in March.
The property is priced to provide a strong return, offering a CAP rate of over 7.2% based on fair market rental rates with room to increase with updates. Recent updates include a new roof installed in 2022, new HVAC system in 2023, and a new water heater in 2024. Sold AS-IS.
Don't miss out on this chance to grow your cash flow in a desirable location with room for improvement.
Property Details
- Utility FeaturesElectricity Connected, Sewer Connected, Water Connected
- Elementary SchoolAlamance - R Homer Andrews
- High SchoolAlamance - Hugh Cummings
- Property SubtypeSingle Family Residence
- Lot FeaturesBack Yard, Front Yard
- Lot DescriptionBack Yard, Front Yard
- SubdivisionNot in a Subdivision
- Middle SchoolAlamance - Broadview
- Sewer InformationPublic Sewer
- CoolingCentral Air
- Property TypePurchase
- CountyAlamance
- MLS #10072297
- MLS #10072297
- HeatingCentral
- RoofShingle
- Utility SourcePublic
- Cost118000
- StyleRanch
- Acres0.17
- Year Built1995
- Taxes Annual$551
- Square Feet816
- Bedrooms2
- Bathrooms1
- Full Baths1
- Stories1
Location
Legal
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Last Updated: . Source: TRIANGLEMLS
Listing Courtesy
Listing Agent: Stephen Fleming (#flemingste)
Listing Office: Berkshire Hathaway HomeService (#3232)
Listing Courtesy (Buyer)
Buyer's Agent: Non Member (#R77777)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
