NOT LISTED FOR SALE

42 Captains Point Cullowhee, NC 28723

16 Beds
24 Baths
8,320 Sq Ft
2.62 Acres

Last Sold February 20, 2023

Last sale price $1,148,000 $138 Per Sq Ft

27 Days on Market

Highlights

  • 2.62 Acre Lot
  • Deck
  • No HOA
  • Mountain View
  • Great Room
  • Covered Patio or Porch

About This Home

As of February 2023

Great investment with huge further potential near Western Carolina University. Just 5 minutes to WCU and and 2 minutes to the Jackson County Recreation Complex. Tenant get to enjoy mountain views from their back porch plus walk down to the river. Great floor plan for tenants with 2 bedrooms upstairs that each have their own full bathroom. 8 units, each with large eat-in kitchen, laundry, living room and half bath downstairs. They also boast decks out front and out back. The ideal location attributes to an excellent rental history with 100% occupancy and long term tenants. With acreage that is here, there is a possibility of adding at least 8 more units. To do so you would have to plug into city water and sewer. There are lines put in to a source, but needs engineering approval and DEQ approval before activating. But the current 8 units are on shared well and septic. Owner has full rent roll records and expense records to show. A lot of long term tenants.

Last Agent to Sell the Property

Aaron Kraft

WEICHERT, Realtors - Unlimited Brokerage Email: akraft@weichertunlimited.com License #241085 Listed on: 12/23/2022

WEICHERT, Realtors - Unlimited

Last Buyer's Agent

Matt Bailey

SECU*RE Inc. License #308374

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1998

Lot Details

  • 2.62 Acre Lot
  • Level Lot

Parking

  • Driveway

Home Design

  • Metal Roof
  • Vinyl Siding

Interior Spaces

  • 8,320 Sq Ft Home
  • Ceiling Fan
  • Great Room
  • Dining Room
  • Mountain Views
  • Crawl Space
  • Dishwasher
  • Laundry Room

Flooring

  • Carpet
  • Vinyl

Bedrooms and Bathrooms

  • 16 Bedrooms

Outdoor Features

  • Access to stream, creek or river
  • Deck
  • Covered Patio or Porch

Utilities

  • Heat Pump System
  • Shared Well
  • Electric Water Heater
  • Shared Septic
  • Cable TV Available

Community Details

  • No Home Owners Association

Listing and Financial Details

  • Tenant pays for cable TV, electricity
  • The owner pays for sewer, trash collection, water
  • Assessor Parcel Number 7558-04-8581

Property Details

Home Type

Multi-Family

Year Built

Built in 1998

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Eightplex
  • Year Built: 1998
  • Road Surface Type: Asphalt, Gravel, Paved
  • ResoPropertyType: ResidentialIncome
  • Attribution Contact: akraft@weichertunlimited.com
  • Special Features: None

Interior Features

  • Foundation Details: Crawl Space
  • Fireplace: No
  • Flooring: Carpet, Vinyl
  • Interior Amenities: Cable Prewire
  • Room Other: Bathroom(s),Bedroom(s),Dining Room,Great Room,Kitchen,Laundry
  • Appliances: Dishwasher, Electric Water Heater, Refrigerator
  • Owner Pays: Sewer, Trash Collection, Water
  • Full Bathrooms: 16
  • Half Bathrooms: 8
  • Total Bedrooms: 16
  • Living Area: 8320

Exterior Features

  • Exterior Features: Storage
  • New Construction: No
  • Roof: Metal
  • Construction Type: Site Built
  • View: Mountain(s), Year Round
  • Waterfront Features: None
  • Construction Type: Vinyl
  • Patio And Porch Features: Covered, Deck, Front Porch, Rear Porch

Garage/Parking

  • Main Level Garage YN: 0
  • Open Parking: No
  • Parking Features: Driveway

Utilities

  • Heating: Heat Pump
  • Sewer: Shared Septic, Other - See Remarks
  • Laundry Features: In Kitchen, Main Level
  • Cooling: Ceiling Fan(s), Heat Pump
  • Water Source: Shared Well, Other - See Remarks

Condo/Co-op/Association

  • Senior Community: No
  • Association: No

Schools

  • Middle Or Junior School: Unspecified
  • HOA Subject To: None

Lot Info

  • Lot Features: Level, Creek/Stream
  • Lot Size Units: Acres
  • Parcel Number: 7558-04-8581
  • Lot Size Acres: 2.62
  • Lot Size Sq Ft: 114127
  • ResoLotSizeUnits: Acres
  • Zoning Specification: None

Rental Info

  • Tenant Pays: Cable TV, Electricity
  • Pets Allowed: Conditional

Multi Family

  • Number Of Units Total: 8

MLS Schools

  • Elementary School: Unspecified
  • High School: Unspecified
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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
02/20/2023 02/20/23 Sold $1,148,000 -2.1% $138 / Sq Ft
12/23/2022 12/23/22 For Sale $1,172,571 -- $141 / 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 $3,458 $910,127 $249,800 $660,327
2024 $2,748 $723,210 $78,600 $644,610
2023 $2,748 $723,210 $78,600 $644,610
2022 $2,748 $723,210 $78,600 $644,610
2021 $2,748 $723,210 $78,600 $644,610
2020 $2,796 $735,810 $67,600 $668,210
2019 $2,796 $735,810 $67,600 $668,210
2018 $2,796 $735,810 $67,600 $668,210
2017 $2,723 $735,810 $67,600 $668,210
2015 $2,274 $735,810 $67,600 $668,210
2011 -- $812,040 $176,850 $635,190
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Canopy MLS (Canopy Realtor® Association)

MLS Number: 3930988

Canopy MLS (Canopy Realtor® Association)