NOT LISTED FOR SALE

10 Reading Ln Cullowhee, NC 28723

Estimated Value: $583,000 - $1,739,194

16 Beds
13 Baths
6,320 Sq Ft
$206/Sq Ft Est. Value

Last Sold October 18, 2017

Last sale price $525,000 $83 Per Sq Ft

Est. 148% increase in value since last sale

Current estimated payment $7,235/month

14 Days on Market

Highlights

  • Waterfront
  • No HOA
  • Laundry Room
  • 3 Acre Lot
  • Cottage
  • Baseboard Heating

About This Home

As of October 2017

Multi family cottage and duplex units. 10 each 1 bed 1 bath cottages of 416 sq ft; one duplex (up/down) with 2 bed 1 bath each level (720 sq ft each level) and another building with 2 bed 1 bath up and community coin operated laundry and storage on bottom. 2.5 mile 4-5 minute drive to campus at WCU and all units are currently leased. Potential gross income of over $88,000.00 based upon current lease rates. Eight of the cottages have new roofs with two more in process of new roofing.

Last Agent to Sell the Property

Todd Baucom

Todd Baucom Realty Inc Brokerage Email: todd@wcproperties.com License #159935 Listed on: 07/13/2017

Last Buyer's Agent

Todd Baucom

Todd Baucom Realty Inc Brokerage Email: todd@wcproperties.com License #159935 Listed on: 07/13/2017

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1978

Lot Details

  • 3 Acre Lot
  • Waterfront
  • Level Lot

Parking

  • 4 Car Garage

Home Design

  • Cottage
  • Slab Foundation
  • Composition Roof
  • Wood Siding

Interior Spaces

  • 6,320 Sq Ft Home
  • Crawl Space
  • Laundry Room

Kitchen

  • Electric Oven
  • Electric Range

Flooring

  • Carpet
  • Vinyl

Bedrooms and Bathrooms

  • 16 Bedrooms
  • 13 Full Bathrooms

Outdoor Features

  • Access to stream, creek or river

Schools

  • Cullowhee Valley Elementary And Middle School
  • Smokey Mountain High School

Utilities

  • Baseboard Heating
  • Electric Water Heater
  • Septic Tank

Community Details

  • No Home Owners Association

Listing and Financial Details

  • The owner pays for electricity, management, sewer, trash collection, water
  • Assessor Parcel Number 7557292744

Property Details

Home Type

Multi-Family

Year Built

Built in 1978

Lot Details

0

Parking

4

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Other
  • Architectural Style: Cottage
  • Year Built: 1978
  • Special Assessment Yn: 0
  • Proposed Special Assessment Yn: 0
  • Road Surface Type: Gravel
  • ResoPropertyType: ResidentialIncome
  • Property Sub Type Additional: Other
  • Attribution Contact: todd@wcproperties.com
  • Special Features: None

Interior Features

  • Foundation Details: Crawl Space, Slab
  • Fireplace: No
  • Flooring: Carpet, Vinyl
  • Sq Ft Unheated Basement: 0
  • Appliances: Electric Oven, Electric Range, Electric Water Heater, Oven, Refrigerator
  • Owner Pays: Electricity, Management, Sewer, Trash Collection, Water
  • Full Bathrooms: 13
  • Total Bedrooms: 16
  • Living Area: 6320

Exterior Features

  • Exterior Features: Other - See Remarks
  • New Construction: No
  • Roof: Composition
  • Construction Type: Site Built
  • Construction Type: Wood

Garage/Parking

  • Main Level Garage YN: 0
  • Garage Spaces: 4
  • Garage Yn: Yes
  • Parking Features: Garage

Utilities

  • Heating: Baseboard, Electric
  • Sewer: Septic Installed
  • Laundry Features: In Basement, Laundry Room
  • Water Source: Well

Condo/Co-op/Association

  • Hoa Subject To Dues: No
  • Association: No

Schools

  • Middle Or Junior School: Cullowhee Valley
  • HOA Subject To: None

Lot Info

  • Lot Features: Creek Front, Level, Creek/Stream, Waterfront
  • Lot Size Units: Acres
  • Parcel Number: 7557292744
  • Zoning: None
  • Plat Reference Section Pages: 650
  • Lot Size Acres: 3
  • Lot Size Sq Ft: 130680
  • ResoLotSizeUnits: Acres
  • Zoning Specification: n/a

Rental Info

  • Tenant Pays: None
  • Pets Allowed: No

Multi Family

  • Number Of Units Total: 13

MLS Schools

  • Elementary School: Cullowhee Valley
  • High School: Smokey Mountain

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 13, 2017
Closed on
Oct 19, 2017
Sold by
Whitesides J Davis and Whitesides Doris B
Bought by
Southern Acquisitions & Management Llc
Seller's Agent
Todd Baucom
Todd Baucom Realty Inc
Buyer's Agent
Todd Baucom
Todd Baucom Realty Inc
List Price
$545,000
Sold Price
$525,000
Premium/Discount to List
-$20,000
-3.67%
Current Estimated Value
$1,304,049

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$779,049
Avg. Annual Appreciation
11.63%
Original Mortgage
$420,000
Interest Rate
3.83%
Mortgage Type
Unknown
Source: Public Records
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Southern Acquisitions & Management Llc $525,000 None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Closed Southern Acquisitions & Management Llc $420,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/18/2017 10/18/17 Sold $525,000 -3.7% $83 / Sq Ft
07/27/2017 07/27/17 Pending -- -- --
07/13/2017 07/13/17 For Sale $545,000 -- $86 / Sq Ft
Source: Canopy MLS (Canopy Realtor® Association)

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $5,395 $1,419,724 $206,980 $1,212,744
2024 $3,075 $809,260 $208,600 $600,660
2023 $4,035 $809,260 $208,600 $600,660
2022 $4,035 $809,260 $208,600 $600,660
2021 $3,075 $809,260 $208,600 $600,660
2020 $2,949 $576,980 $111,100 $465,880
2019 $2,949 $576,980 $111,100 $465,880
2018 $2,937 $576,980 $111,100 $465,880
2017 $2,899 $579,080 $116,200 $462,880
2015 $2,695 $579,080 $116,200 $462,880
2011 -- $692,620 $96,000 $596,620
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Canopy MLS (Canopy Realtor® Association)

MLS Number: 3300903

Canopy MLS (Canopy Realtor® Association)

APN: 7557-29-2744