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33420106
33420107

5929 MOURGLEA AVE, CONNELLY SPRINGS, NC 28612

CR
NC 299802
C Rice and Associates
Listed by C Rice and Associates
$315,000
5 days on market
Updated 5 days ago

5929 MOURGLEA AVE CONNELLY SPRINGS NC 28612

Details
APN 14316
Property Type Land, Mobile Home Park
Sub Type Residential
Square Footage 3,668
Units 4
Cap Rate 11.17%
NOI $35,200
Occupancy 100%
Price per SqFt $86
Lot Size (SqFt) 50,965
Parking Spaces per unit
Investment Type Value Add
Ownership 2022

Great low cost cash flow investment

Marketing description

Located just south of Rutherford College & Valdese, this desirable investment property offers both immediate income & long-term potential. The property includes four well-maintained 1990s singlewide mobile homes, each thoughtfully updated by the current owner. These units currently generate $3,200/month ($38,400/year) in rental income, with room for increased returns. Recent improvements across the homes include: carpet, flooring, paneling, paint, interior & exterior doors, vanities & toilets, water heaters & many appliances. Each home is equipped with a heat pump, making them more attractive to quality tenants. The landlord currently handles lawn care, provides town water, & maintains a shared dumpster. Tenants are responsible for all other utilities. Each unit is on its own septic system. Set in a scenic location at the foot of Mineral Springs Mountain, just outside the town limits. Properties are tenant occupied. Please allow at least 24 hours for showings. The landlord will ask a tenant or 2 to accommodate showings. Additional units may be shown to serious, qualified buyers.

Investment highlights

Located just south of Rutherford College & Valdese, this desirable investment property offers both immediate income & long-term potential. The property includes four well-maintained 1990s singlewide mobile homes, each thoughtfully updated by the current owner. These units currently generate $3,200/month ($38,400/year) in rental income, with room for increased returns. Recent improvements across the homes include: carpet, flooring, paneling, paint, interior & exterior doors, vanities & toilets, water heaters & many appliances. Each home is equipped with a heat pump, making them more attractive to quality tenants. The landlord currently handles lawn care, provides town water, & maintains a shared dumpster. Tenants are responsible for all other utilities. Each unit is on its own septic system. Set in a scenic location at the foot of Mineral Springs Mountain, just outside the town limits. Properties are tenant occupied. Please allow at least 24 hours for showings. The landlord will ask a tenant or 2 to accommodate showings. Additional units may be shown to serious, qualified buyers.

Listing Contacts

CR
NC 299802
C Rice and Associates
Listed by C Rice and Associates

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$35,200.00
$2,933.33/mo

Valuation Metrics

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DSCR
11.17%
Cap Rate
11.17%
ROI

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