NOT LISTED FOR SALE

502 Grace Ave Unit A/B Kannapolis, NC 28083

4 Beds
2 Baths
2,496 Sq Ft
0.34 Acres

Last Sold August 30, 2024

Last sale price $320,000 $128 Per Sq Ft

12 Days on Market

Highlights

  • Laundry in Mud Room
  • Living Room
  • Central Heating and Cooling System
  • Jackson Park Elementary School Rated 9+
  • Detached Carport Space
  • Dining Area

About This Home

As of August 2024

Duplex in Kannapolis. Close to Hwy 85 and downtown Kannapolis. Large 2 bedroom units with new paint, flooring, appliances, and more. Vacant and ready for new tenants.

Last Agent to Sell the Property

Aaron Swart

4 Site Real Estate LLC Brokerage Email: aaronjswart@gmail.com License #304957 Listed on: 07/19/2024

Last Buyer's Agent

Rose Elbino

J Meeks + Co License #341783

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,440

Year Built

  • Built in 1948

Lot Details

  • 0.34

Home Design

  • Duplex
  • Vinyl Siding

Interior Spaces

  • 2,496 Sq Ft Home
  • Property has 1 Level
  • Living Room
  • Dining Area
  • Crawl Space
  • Electric Range
  • Laundry in Mud Room

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 2 Full Bathrooms

Parking

  • Detached Carport Space
  • Driveway

Schools

  • Jackson Park Elementary School
  • Kannapolis Middle School
  • A.L. Brown High School

Utilities

  • Central Heating and Cooling System
  • Electric Water Heater

Listing and Financial Details

  • Tenant pays for cable TV, electricity, internet, trash collection, water
  • The owner pays for gas
  • Assessor Parcel Number 56243059970000

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,440

Year Built

Built in 1948

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Duplex
  • Architectural Style: Ranch
  • Year Built: 1948
  • Road Surface Type: Gravel, Paved
  • ResoPropertyType: ResidentialIncome
  • Geocode Confidence: High
  • Attribution Contact: aaronjswart@gmail.com
  • Special Features: None
  • Stories: 1

Interior Features

  • Foundation Details: Crawl Space
  • Fireplace: No
  • Room Other: Bedroom(s),Bathroom(s),Kitchen,Living Room,Dining Area
  • Appliances: Electric Range, Electric Water Heater, Refrigerator
  • Owner Pays: Gas, None
  • Above Grade Finished Sq Ft: 2496
  • Basement YN: No
  • Full Bathrooms: 2
  • Total Bedrooms: 4
  • Living Area: 2496
  • Building Stories: 1

Exterior Features

  • New Construction: No
  • Roof: Shingle
  • Construction Type: Site Built
  • Construction Type: Vinyl

Garage/Parking

  • Main Level Garage YN: 0
  • Carport Y N: Yes
  • Garage Yn: No
  • Open Parking: No
  • Parking Features: Detached Carport, Driveway

Utilities

  • Heating: Central
  • Sewer: Public Sewer
  • Laundry Features: Mud Room
  • Cooling: Central Air
  • Water Source: City

Condo/Co-op/Association

  • Senior Community: No

Schools

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

Lot Info

  • Lot Size Area: 0.34
  • Lot Size Units: Acres
  • Parcel Number: 56243059970000
  • ResoLotSizeUnits: Acres
  • Zoning Specification: R4

Rental Info

  • Tenant Pays: Cable TV, Electricity, Internet, Trash Collection, Water
  • Pets Allowed: Call

Multi Family

  • Number Of Units Total: 2

MLS Schools

  • Elementary School: Jackson Park
  • High School: A.L. Brown

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 19, 2024
Closed on
Aug 29, 2024
Sold by
Swart Realty & Investments Llc
Bought by
Edwards Derrell Tayvon and Edwards Emily
Seller's Agent
Aaron Swart
4 Site Real Estate LLC
Buyer's Agent
Rose Elbino
J Meeks + Co
List Price
$350,000
Sold Price
$320,000
Premium/Discount to List
-$30,000
-8.57%
Views
35

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$240,000
Outstanding Balance
$229,861
Interest Rate
6.05%
Mortgage Type
New Conventional

Purchase Details

Closed on
Apr 2, 2024
Sold by
Faggart Danielle and Faggart Jeffrey
Bought by
Swart Realty & Investments Llc

Purchase Details

Closed on
Nov 1, 1989
Bought by
Faggart Jeffrey Dale

Purchase Details

Closed on
Feb 1, 1980
Source: Public Records

Range of Values:

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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
Edwards Derrell Tayvon $320,000 None Listed On Document
Swart Realty & Investments Llc $200,000 None Listed On Document
Faggart Jeffrey Dale $63,000 --
-- $11,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Edwards Derrell Tayvon $240,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
08/30/2024 08/30/24 Sold $320,000 -8.0% $128 / Sq Ft
07/25/2024 07/25/24 Price Changed $348,000 -0.6% $139 / Sq Ft
07/19/2024 07/19/24 For Sale $350,000 -- $140 / Sq Ft
Source: Canopy MLS (Canopy Realtor® Association)

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 $2,440 $214,910 $65,000 $149,910
2024 $2,230 $196,420 $65,000 $131,420
2023 $1,261 $92,050 $32,000 $60,050
2022 $1,261 $92,050 $32,000 $60,050
2021 $1,261 $92,050 $32,000 $60,050
2020 $1,261 $92,050 $32,000 $60,050
2019 $1,273 $92,920 $22,500 $70,420
2018 $1,254 $92,920 $22,500 $70,420
2017 $1,236 $92,920 $22,500 $70,420
2016 $1,236 $123,480 $25,000 $98,480
2015 $1,556 $123,480 $25,000 $98,480
2014 $1,556 $123,480 $25,000 $98,480
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Canopy MLS (Canopy Realtor® Association)

MLS Number: 4157783

Canopy MLS (Canopy Realtor® Association)

APN: 5624-30-5997-0000