5109 Higgins Street, Fayetteville, NC
14.86% return
SP:
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Property Description

Cute property! House and a quad on one parcel. Only $25k per unit! Needs cosmetic improvements. Sold as is. House is rented and quad is vacant. Great city wtih tons of growth. Potential to generate high returns on investment. Professional property management is available. 

Property Information

  • Listing statusActive
  • Property typeMulti Family
  • Total units5
  • Total bedrooms7
  • Total bathrooms5
  • Building size4752 sq. ft.
  • Lot size0.2 acres
  • Year built1937 - 1954
  • CountyCumberland County
  • Subdivision
  • ConstructionCBS
  • RoofShingle
  • Water sourceCity water
  • Water disposalSewer
  • HeatingWindow Unit
  • CoolingWIND/WALL UNIT, Window A/C

Property Financial Summary

  • Sale price $125,000
  • Estimated rehab 1 $35,000
  • Total investment $160,000
  • Type Proforma
  • After repair value $195,000
  • Potential profit $35,000
  • Gross income (annually) $30,900
  • Operating expenses (annually) $7,118
  • Net income (annually) $23,782
  • Gross return 19.31%
  • Gross income (monthly) $2,575
  • Operating expenses (monthly) $593
  • Net income (monthly) $1,982
  • Net return 14.86%

Property Income & Expenses

  • Income
  • House
  • Unit 1: 2 bed / 1 bath $575/month $6,900/year
  • Quadplex
  • Unit 1: 1 bed / 1 bath $475/month $5,700/year
  • Unit 2: 1 bed / 1 bath $475/month $5,700/year
  • Unit 3: 1 bed / 1 bath $475/month $5,700/year
  • Unit 4: 2 bed / 1 bath $575/month $6,900/year
  • Total $2,575/month $30,900/year
  • Expenses
  • Insurance $167/month $2,000/year
  • Property Taxes $188/month $2,258/year
  • Lawn care $30/month $360/year
  • Maintenance reserve $208/month $2,500/year
  • Total $593/month $7,118/year

Property Questions & Answers

Q: How do I make an offer on this property?
A: Placing an offer is a simple process. All offers must be presented in writing with an escrow deposit of 10% or $5,000, whichever is larger. Escrow has to be sent to the attorney or title company who is handling the file for this property. Please send us an inquiry and one of our team members will get in touch with you to further assist you. You can also give us a call.

Q: Does this property come with clear title?
A: All our properties come with clear title. We highly recommend you purchase title insurance as well.

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