NOT LISTED FOR SALE

2118 Old Farmer Rd Asheboro, NC 27205

Estimated Value: $846,732 - $896,000

-- Bed
3 Baths
-- Sq Ft
2.33 Acres

Last Sold July 13, 2018

Last sale price $465,000

Est. 86% increase in value since last sale

Current estimated payment $4,949/month

8 Days on Market

Highlights

  • 2.33 Acre Lot
  • No HOA
  • Central Air

About This Home

As of July 2018

Brick apartment complex with seven total units. All units are 3 bed/2bath. Quad built in 2006 and triplex built in 1991 with updates in 2006. Very well maintained property with long term tenants. Current cap rate 7.2%. Rent roll and 2017 expenses attached. No vacant units to currently view. Seller is agent.

Last Agent to Sell the Property

Jenna McKenzie

McKenzie Real Estate of NC LLC Listed on: 04/30/2018

Last Buyer's Agent

Robert Moran

RE/MAX Central Realty License #185749

RE/MAX Central Realty

Property Details

Home Type

  • Apartment

Est. Annual Taxes

  • $4,175

Year Built

  • Built in 2006

Lot Details

  • 2.33 Acre Lot

Parking

  • Lighted Parking
  • Paved Parking

Utilities

  • Central Air
  • Heat Pump System
  • Electric Water Heater

Community Details

  • No Home Owners Association
  • 7 Units

Listing and Financial Details

  • Assessor Parcel Number 7750091048
  • 1% Total Tax Rate

Property Details

Home Type

Apartment

Est. Annual Taxes

$4,175

Year Built

Built in 2006

Lot Details

0

Listing Details

  • Property Sub Type: Apartment
  • Prop. Type: Residential Income
  • Lot Size Acres: 2.33
  • Lot Size: 2.33
  • Directions: From Raleigh, take 64 West. Right on Old Farmer Road. Property on left.
  • Year Built: 2006
  • TRIADMLS_TotalHeatedFinishedSqFtRange: 0 - 0
  • TRIADMLS_BuiltInformation: Existing
  • TRIADMLS_ElevatorYN: No
  • TRIADMLS_AdCopy: Brick apartment complex with seven total units. Quad built in 2006 and triplex built in 1991 with updates in 2006. Very well maintained property w/ long term tenants. Cap rate 7.2%. Rent roll and 2017 expenses attached. No vacant units to currently view.
  • Special Features: None

Interior Features

  • Appliances: Electric Water Heater

Exterior Features

  • Pool Features: None
  • TRIADMLS_PoolYN: No
  • Flood Zone: Not in Flood Zone

Garage/Parking

  • Parking Features: Lighted, Paved

Utilities

  • Sewer: Public Sewer
  • Cooling: Central Air
  • Heating: Heat Pump, Electric
  • Water Source: Public
  • TRIADMLS_HeatingFuel: Electric
  • Water Heater: Electric

Condo/Co-op/Association

  • Association: No

Lot Info

  • Parcel #: 7750091048
  • Zoning: RM
  • TRIADMLS_AcresRange: 2 - 2

Green Features

  • TRIADMLS_EnvironmentalHazards: No

Multi Family

  • Number Of Units Total: 7

Tax Info

  • Tax Annual Amount: 4174.96
  • Tax Year: 2017
  • TRIADMLS_TaxRate: 0.923

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 30, 2018
Closed on
Jul 12, 2018
Sold by
Mckenzie Real Estate Of Nc Llc
Bought by
Johnson James Keith
Seller's Agent
Jenna McKenzie
McKenzie Real Estate of NC LLC
Buyer's Agent
Robert Moran
RE/MAX Central Realty
List Price
$499,000
Sold Price
$465,000
Premium/Discount to List
-$34,000
-6.81%
Current Estimated Value
$863,911

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$398,911
Avg. Annual Appreciation
8.74%
Original Mortgage
$245,000
Outstanding Balance
$211,884
Interest Rate
4.5%
Mortgage Type
Future Advance Clause Open End Mortgage
Estimated Equity
$652,027

Purchase Details

Closed on
Dec 22, 2017
Sold by
Mckenzie Properties & Investments Llc
Bought by
Mckenzie Real Estate Of Nc Llc

Purchase Details

Closed on
Dec 18, 2017
Sold by
Mckenzie Properties & Investments Llc
Bought by
Mckenzie Real Estate Of Nc Llc

Purchase Details

Closed on
Dec 30, 2010
Sold by
Branson Mckenzie Llc
Bought by
Mckenzie Properties & Investments L L C
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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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
Johnson James Keith $465,000 None Available
Mckenzie Real Estate Of Nc Llc -- None Available
Mckenzie Real Estate Of Nc Llc -- None Available
Mckenzie Properties & Investments L L C -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Johnson James Keith $245,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
07/13/2018 07/13/18 Sold $465,000 -6.8% --
05/09/2018 05/09/18 Pending -- -- --
04/30/2018 04/30/18 For Sale $499,000 -- --
Source: Triad MLS

Tax History Compared to Growth

Source: Public Records

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 $4,812 $620,670 $70,000 $550,670
2024 $4,750 $620,670 $70,000 $550,670
2023 $4,750 $620,670 $70,000 $550,670
2022 $3,994 $431,000 $42,000 $389,000
2021 $3,994 $431,000 $42,000 $389,000
2020 $3,907 $431,000 $42,000 $389,000
2019 $3,907 $431,000 $42,000 $389,000
2018 $4,220 $452,570 $42,000 $410,570
2016 $4,175 $452,562 $42,000 $410,562
2015 $4,141 $452,562 $42,000 $410,562
2014 -- $452,562 $42,000 $410,562
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Triad MLS

MLS Number: 884878

Triad MLS

APN: 7750-09-1048