NOT LISTED FOR SALE

202 Overlook Dr Spruce Pine, NC 28777

26 Beds
24 Baths
12,000 Sq Ft
1.52 Acres

Last Sold August 16, 2019

Last sale price $1,150,000 $96 Per Sq Ft

143 Days on Market

Highlights

  • City View
  • Level Lot
  • Carpet
  • Front Green Space

About This Home

As of August 2019

Income opportunity attracting professionals w/high efficiency & extremely well maintained (like-new), 3 bldg./12-unit homes in prime rental corridor next to hospital & ECU School of Dentistry. Located in one of the most desirable neighborhoods, Eleven 2BD/2BA w/Master suite, two 3BD/2BA, high ceilings, front & rear porch, ramp accessibility on 1st floor & perfect floor plans. 27 pk. spaces, room for equip. bldg./office. 100% occupancy at all times! Current CAP = 8% (T-12= 7%). Excellent upside (CAP= 10%) potential/value-add opportunity for increased rents/NOI, w/no capital expenditures or updates needed (current rents= $200+ below market rate). Strong demographics & high quality employment opportunities. Rising rental pressure in growing town. Next to schools, shopping & employment- 5 min. to all major employers. Additional 4.15 acres on same street = further development w/water & sewer tap already purchased ($78,000; MLS#: 3451543).20 min.- I-40, 50 min.- Asheville, 2hr.- Charlotte.

Last Agent to Sell the Property

Peter Franklin

Foxfire Real Estate, LLC License #272056 Listed on: 02/08/2019

Last Buyer's Agent

David Begley

GreyBeard Realty License #275186

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 2005

Lot Details

  • Front Green Space
  • Level Lot
  • Open Lot

Home Design

  • Vinyl Siding

Interior Spaces

  • 24 Full Bathrooms
  • Insulated Windows
  • City Views
  • Crawl Space

Flooring

  • Carpet
  • Vinyl

Listing and Financial Details

  • Tenant pays for cable, electricity
  • Rent includes sewer, water
  • Assessor Parcel Number 0799-06-39-7324

Property Details

Home Type

Multi-Family

Year Built

Built in 2005

Lot Details

0

Listing Details

  • Property Type: Multi-Family
  • Property Sub Type: Apartments
  • Ratio Close Price By List Price: 0.92000
  • Ratio Close Price By Original Li: 0.92000
  • Ratio Current Price By Acre: 756578.95
  • Ratio Current Price By Sq Ft: 95.83
  • Year Built: 2005
  • Property Features: Cable Available, Handicap Access
  • Special Features: None

Interior Features

  • Foundation Details: Crawl Space
  • Full Bathrooms: 24
  • Total Bedrooms: 26
  • Doors and Windows: g-Insulated Door(s), Insulated Windows
  • Equipment: Cable Prewire, Dryer, Dishwasher, Electric Range, Refrigerator, Washer, Electric Oven
  • Flooring: Carpet, Vinyl
  • Laundry Location: Main
  • Total Sq Ft: 12000

Exterior Features

  • Construction: Vinyl
  • Construction Type: Site Built

Garage/Parking

  • Driveway: Asphalt
  • Parking: Lot, Parking Space - 2

Utilities

  • Heating: Central Air
  • Sewer: City Sewer
  • Water: City Water
  • Water Heater: Electric

Lot Info

  • Lot Features: City View, Green Area, Level, Long Range View, Mountain View, Open Lot, Paved Frontage, Sloping, Views, Year Round View
  • Parcel Number: 0799-06-39-7324
  • Plat Reference Section Pages: 897
  • Zoning Specification: R-1

Rental Info

  • Rent Includes: Sewer, Water
  • Tenant Pays: Cable, Electricity

Tax Info

  • Tax Value: 849100.00
  • Tax Location: Spruce Pine

Multi Family

  • Unit Count: 1
  • Number Of Units Total: 12

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
08/16/2019 08/16/19 Sold $1,150,000 -8.0% $96 / Sq Ft
07/01/2019 07/01/19 Pending -- -- --
05/31/2019 05/31/19 For Sale $1,250,000 0.0% $104 / Sq Ft
03/04/2019 03/04/19 Pending -- -- --
02/08/2019 02/08/19 For Sale $1,250,000 -- $104 / Sq Ft
Source: Canopy MLS (Canopy Realtor® Association)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: Canopy MLS (Canopy Realtor® Association)

MLS Number: CAR3473220

Canopy MLS (Canopy Realtor® Association)

APN: 0799-06-39-7324