NOT LISTED FOR SALE

308 McBrayer St Shelby, NC 28150

Shelby Area

Estimated Value: $1,631,955

56 Beds
22 Baths
17,176 Sq Ft
$95/Sq Ft Est. Value

Sale Details

Date Sold: December 30, 2016

Last sale price $399,000 $23 Per Sq Ft

Est. 309% increase in value since last sale

Current estimated payment $9,467 / mo

11 Days on Market

Highlights

  • Traditional Architecture
  • Laundry Room
  • Carpet

About This Home

As of December 2016

Great investment opportunity in extremely low vacancy market. Olivia Place, a 22 unit apartment home community just a few blocks from Downtown Shelby, is being transformed and all available units are occupied. Rents continue to rise at renewal/rollover and as stabilization to market rates continues potential income is outstanding. Owner projects a 12.6 CAP for 2017 (and 16.0% CAP with continued renovation).

Last Agent to Sell the Property

Erich Hahne

SouthPointe Realty Inc. License #180017 Listed on: 11/21/2016

Last Buyer's Agent

John Sears

CEDAR REALTY LLC License #228692

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1974

Lot Details

  • 1.6

Home Design

  • Traditional Architecture
  • Slab Foundation
  • Vinyl Siding

Flooring

  • Carpet
  • Vinyl

Additional Features

  • 22 Full Bathrooms
  • Laundry Room

Listing and Financial Details

  • Tenant pays for all utilities
  • Rent includes garbage pick-up, outdoor lighting, sewer, water
  • Assessor Parcel Number 17727

Property Details

Home Type

Multi-Family

Year Built

Built in 1974

Lot Details

1.6 Acres

Listing Details

  • Property Type: Multi-Family
  • Architectural Style: Traditional
  • Construction Status: Complete
  • Ratio Close Price By List Price: 0.93007
  • Ratio Close Price By Original Li: 0.93007
  • Ratio Current Price By Acre: 249375.00
  • Ratio Current Price By Sq Ft: 23.23
  • Year Built: 1974
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Foundation Details: Slab
  • Full Bathrooms: 22
  • Total Bedrooms: 56
  • Equipment: Cable Prewire
  • Flooring: Vinyl, Carpet
  • Laundry Location: Common Facility
  • Total Sq Ft: 17176

Exterior Features

  • Construction: Brick Partial, Vinyl
  • Publically Maintained Road: Yes

Garage/Parking

  • Driveway: Asphalt
  • Parking: Parking Space - 4+

Utilities

  • Heating: Central Air, Electric Baseboard Heat, Wall Unit - AC
  • Sewer: City Sewer
  • Water: City Water
  • Water Heater: Electric

Condo/Co-op/Association

  • Community Features: Laundry Room

Lot Info

  • Lot Dimension: 200w x 350d
  • Parcel Number: 17727
  • Zoning Specification: R6

Rental Info

  • Rent Includes: Garbage Pick-up, Outdoor Lighting, Sewer, Water
  • Tenant Pays: All Utilities

Tax Info

  • Tax Value: 170585.00
  • Tax Location: Shelby

Multi Family

  • Number Of Units Total: 22

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Closed on
May 15, 2023
Sold by
Bought by
Current Estimated Value
$1,631,955

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$885,000
Interest Rate
0.0627%
Mortgage Type
Credit Line Revolving

Purchase Details

Closed on
Sep 11, 2015
Sold by
Bought by

Purchase Details

Closed on
Mar 28, 2005
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$350,000
Interest Rate
0.0557%
Mortgage Type
FHA
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
Collateral Analytics

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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

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
-- None Listed On Document
$1,320,000 None Listed On Document
$212,000 None Available
$350,000 None Available
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $885,000
Previous Owner $307,500
Previous Owner $301,753
Previous Owner $350,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
12/30/2016 12/30/16 Sold $399,000 -7.0% $23 / Sq Ft
12/02/2016 12/02/16 Pending -- -- --
11/21/2016 11/21/16 For Sale $429,000 -- $25 / Sq Ft
Source: Canopy MLS

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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 $7,217 $725,346 $119,250 $606,096
2024 $4,922 $369,034 $23,800 $345,234
2023 $4,897 $369,034 $23,800 $345,234
2022 $4,897 $369,034 $23,800 $345,234
2021 $4,922 $369,034 $23,800 $345,234
2020 $2,538 $170,585 $19,754 $150,831
2019 $2,538 $170,585 $19,754 $150,831
2018 $2,515 $170,585 $19,754 $150,831
2017 $2,460 $170,585 $19,754 $150,831
2016 $2,430 $170,585 $19,754 $150,831
2015 $3,399 $263,713 $19,754 $243,959
2014 $3,399 $263,713 $19,754 $243,959
Source: Public Records

Agents Affiliated with this Home

  • Erich Hahne

    Seller's Agent in 2016

    Erich Hahne

    SouthPointe Realty Inc.

    (704) 400-7560

    49 Total Sales

    Erich Hahne
    Section Image

  • J

    Buyer's Agent in 2016

    John Sears

    CEDAR REALTY LLC

    (704) 305-4178

    3 Total Sales

    John Sears
    Section Image
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Map

Source: Canopy MLS

MLS Number: CAR3231857

Canopy MLS

APN: 17727

North Carolina Cleveland County Shelby 28150

308 McBrayer St, Shelby, NC

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Canopy MLS All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website.
Based on information submitted to the MLS GRID
Listings courtesy of Canopy MLS as distributed by MLS GRID

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