NOT LISTED FOR SALE

701 S Carolina Ave Spencer, NC 28159

Estimated Value: $189,000 - $277,000

5 Beds
6 Baths
3,034 Sq Ft
$79/Sq Ft Est. Value

Last Sold September 23, 2020

Last sale price $115,000 $38 Per Sq Ft

Est. 109% increase in value since last sale

Current estimated payment $1,513/month

2 Days on Market

About This Home

As of September 2020

Unique opportunity with this Craftsman style home. Unusual Front porch with neat built in pergola. Some nice original features remain. Was converted circa 1945 into three rental units. 1 large 1538 Sq Ft downstairs 2 bedroom 1 bath unit with large living room. 985 Sq ft. upstairs unit is 2 bedrooms 1 bath. Above the garage has a 511 Sq Ft studio style apt. You can live in one & rent the others, convert it back to single family or rent them all. All three are on separate electric meters but only one water meter. New HVAC for first floor of the house. Heat in second floor needs to be replaced. New roof on garage, house is in need of a roof. inside of all units have been freshly repainted. Two parcels sold as one. Parcel 031-076 & parcel 031 -158. Tax value is both parcels combined. Home is located in Spencer's Historic District. Garage Apt address is 311 7th Street. Seller will give a $8000 credit to buyers towards roof or upstairs hvac with acceptable offer.

Last Agent to Sell the Property

Greg Rapp

Salisbury Real Estate LLC License #210485 Listed on: 09/02/2020

Last Buyer's Agent

Chic Living Team

NorthGroup Real Estate LLC License #280328

NorthGroup Real Estate LLC

Home Details

Home Type

  • Single Family

Year Built

  • Built in 1924

Lot Details

  • 0.33

Parking

  • 2

Home Design

  • Asbestos Siding

Additional Features

  • Level Lot

Listing and Financial Details

  • Assessor Parcel Number 031076

Home Details

Home Type

Single Family

Year Built

Built in 1924

Lot Details

0

Parking

2

Listing Details

  • Property Type: Single Family
  • Property Sub Type: 2 Story
  • Ratio Close Price By List Price: 0.89147
  • Ratio Close Price By Original Li: 0.89147
  • Ratio Current Price By Acre: 348484.85
  • Ratio Current Price By Sq Ft: 37.90
  • Year Built: 1924
  • Special Features: None
  • Stories: 2

Interior Features

  • Foundation Details: Basement
  • Upper Level Sq Ft: 985
  • Full Bathrooms: 3
  • Half Bathrooms: 3
  • Total Bathrooms: 6.00
  • Total Bedrooms: 5
  • Laundry Location: Main, Upper
  • Room Count: 1
  • Main Level Sq Ft: 1538
  • Third Level Sq Ft: 511
  • Total Sq Ft: 3034

Exterior Features

  • Construction: Asbestos, Brick Partial, Shingle
  • Construction Type: Site Built

Garage/Parking

  • Driveway: Concrete
  • Parking: Garage - 2 Car

Utilities

  • Heating: Central Air, Gas Hot Air Furnace
  • Sewer: City Sewer
  • Water: City Water
  • Water Heater: Electric

Schools

  • Elementary School: North Rowan
  • Middle School: North Rowan
  • High School: North Rowan

Lot Info

  • Lot Features: Level
  • Lot Size Area: 0.330
  • Parcel Number: 031076
  • Zoning Specification: R6

Tax Info

  • Tax Value: 142953.00
  • Tax Location: Spencer

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Sep 2, 2020
Closed on
Sep 22, 2020
Sold by
Usery Terry Hampton and Powell Patty D
Bought by
Bonhomme Patrick
Seller's Agent
Greg Rapp
Salisbury Real Estate LLC
Buyer's Agent
Chic Living Team
NorthGroup Real Estate LLC
List Price
$129,000
Sold Price
$115,000
Premium/Discount to List
-$14,000
-10.85%
Current Estimated Value
$240,274

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$125,274
Avg. Annual Appreciation
16.15%

Purchase Details

Listed on
Sep 25, 2019
Closed on
Nov 19, 2019
Sold by
Cl45 Mw Reo 1 Llc
Bought by
Usery Terry Hampton and Powell Patty D
Seller's Agent
Lin Litaker
Century 21 Towne and Country
Buyer's Agent
Lin Litaker
Century 21 Towne and Country
List Price
$74,000
Sold Price
$60,000
Premium/Discount to List
-$14,000
-18.92%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
114.98%

Purchase Details

Closed on
Jul 10, 2019
Sold by
Fraley William T and Fraley Kim Y
Bought by
Cl45 Mw Reo 1 Llc

Purchase Details

Closed on
May 7, 2007
Sold by
Kepley Steven J and Kepley Angie M
Bought by
Fraley William T and Fraley Kim Y

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$94,500
Interest Rate
6.1%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Jul 26, 2005
Sold by
Bank Of America Na
Bought by
Kepley Steven J and Kepley Angie M

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$44,000
Interest Rate
5.14%
Mortgage Type
Fannie Mae Freddie Mac

Purchase Details

Closed on
Oct 7, 2003
Sold by
Logan Thomas M
Bought by
Bank Of America Na
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
Bonhomme Patrick $115,000 None Available
Usery Terry Hampton $60,000 None Available
Cl45 Mw Reo 1 Llc $50,000 None Available
Fraley William T $105,000 None Available
Kepley Steven J $55,000 --
Bank Of America Na $40,500 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Fraley William T $94,500
Previous Owner Kepley Steven J $45,000
Previous Owner Kepley Steven J $44,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
09/23/2020 09/23/20 Sold $115,000 -10.9% $38 / Sq Ft
09/04/2020 09/04/20 Pending -- -- --
09/02/2020 09/02/20 For Sale $129,000 +115.0% $43 / Sq Ft
11/19/2019 11/19/19 Sold $60,000 -12.9% $24 / Sq Ft
10/30/2019 10/30/19 Pending -- -- --
10/21/2019 10/21/19 Price Changed $68,900 -6.9% $27 / Sq Ft
09/25/2019 09/25/19 For Sale $74,000 -- $29 / 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 $2,447 $216,576 $12,500 $204,076
2024 $2,447 $216,576 $12,500 $204,076
2023 $1,737 $216,576 $12,500 $204,076
2022 $1,233 $118,652 $10,000 $108,652
2021 $1,557 $118,652 $10,000 $108,652
2020 $1,557 $118,652 $10,000 $108,652
2019 $1,557 $118,652 $10,000 $108,652
2018 $1,310 $100,956 $10,000 $90,956
2017 $1,310 $100,956 $10,000 $90,956
2016 $1,310 $100,956 $10,000 $90,956
2015 $1,330 $100,956 $10,000 $90,956
2014 $1,673 $130,896 $10,000 $120,896
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Canopy MLS (Canopy Realtor® Association)

MLS Number: CAR3658623

Canopy MLS (Canopy Realtor® Association)

APN: 031-076