Property Description:
Flip or Rental Opportunity Offered For 50% ARV
Offering a great 4 house package opportunity on a clean, quiet street in Red Springs. I personally own all four homes so title will be straightforward. I have owned these homes for about 5 years and I am selling due to the distance from me. All houses will need updated once vacant and are priced as-is.
Three houses are rented, one is vacant. Expected rent total between the four houses is $4,100/month. Of the three rented, two are month to month and one has 11 months remaining on the lease.
These are all cash flowing well with good tenants, see details below:
112 E McNeill Drive, Red Springs: VACANT, was rented for $1,500/month
4 beds/2 full baths/2,502sqft
Large lot with a very cool wired workshop (see pictures)
City water/sewer
House has two HVAC, one is about 3 years old
We updated cosmetics a few years ago but they will need updating again
Roof pre-dates my ownership
ARV: $244,000
Pictures: dropbox.com/scl/fo/huk7t3ihollju0iddkz1z/h?rlkey=v3soxkvgi7bpfagtlhqasmxkz&st=lxgt8a6j&dl=0
110 E McNeill Drive, Red SpringsRented, month to month, $850/month
2/1/1,100 sqft (approx)
Long term tenant, pays on time, maintains house well
We updated cosmetics prior to this tenant
Roof and HVAC are older
City water/sewer
ARV: $102,000
Pictures: dropbox.com/scl/fo/skueh4eebwtee2cgz5j66/AMMVnNiGSfy1h4tbRB9TM3I?rlkey=d80658iezpfwh1hjbt0hnk33h&st=4bizm0jo&dl=0
110.5 E McNeill Drive, Red SpringsRented, through May 2026, $875/month
3/1/1,100 sqft (approx)
New tenant, pays on time, maintains house well
We updated cosmetics prior to this tenant
Roof and HVAC are older
City water/sewer
ARV: $102,000
Pictures: dropbox.com/scl/fo/0hj3nspuwz29c6xi9yfrf/AHg2mIiUaImOmpDMzipa1ck?rlkey=spumid1250kf25ez8whwtk50k&st=rtd150gi&dl=0
116 E McNeill Drive, Red SpringsRented, month to month, $875/month
Long term tenant, pays on time
This tenant hasn't maintained house as well but she is happy
We updated cosmetics prior to this tenant
Roof approx 6 years old
HVAC approx 6 years old
City water/sewer
ARV: $102,000
Total ARV: $550,000**
Rent Estimate: $4,100/mo (this was actual prior to vacancy)
Asking Price: $275,000
Deposit: $4,000
*Because 3 houses are occupied POF will be required and serious interest verified prior to walkthrough on those 3.
*Agents please add your fee above asking price.
*Sight unseen offers and offers from prior partners will receive priority.
*Buyer pays closing costs
For additional information or to view this property please contact:
Dan DeLeo
919-538-1385
dan@fivelionsnc.com
Contact for access.
As always, YOU ARE RESPONSIBLE FOR YOUR OWN DUE DILLIGENCE. WE MAKE NO CLAIMS ABOUT THE HISTORY OR CONDITION OF THE PROPERTY.
Disclaimer: We are not realtors and are not acting as such; please complete your own due diligence prior to submitting an offer. This contract is being offered for assignment; this has been communicated to the Seller and the contract has been certified with the Register of Deeds. Any attempt to usurp, re-market or re-brand this agreement will be viewed as hostile and will be prosecuted as such resulting in immediate legal action.