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$249,900

For Sale - Active
1108 S Andrews Ave, Goldsboro, NC 27530
4 Beds
2 Baths
2,105 Square Feet
0.48 Acres Lot
Built in 1963
For Sale - Active
Units n/a
Checked: 13 hours ago
Updated: Aug 13, 2025 at 11:41PM

Investment Summary


Potential Missing Expenses

We noticed that property taxes are missing—this is a standard expense and should be considered in your estimate.

Monthly Cash Flow
$197
Cap Rate
6.6%
Cash-on-Cash Return
4.1%
Debt Coverage Ratio
1.17
Internal Rate of Return (5 years)
8.0%

Property Description


0.48 Acres Lot
Built in 1963
For Sale - Active
Units n/a

Located in the heart of the city, this beautifully updated 4 bedroom, 2 bathroom home offers over 2,000 square feet of thoughtfully designed and inviting living space. The home features a full masonry fireplace in the spacious lower-level den, a generously sized laundry room, and a fully remodeled kitchen complete with stainless steel appliances. A secondary living area provides additional space for relaxation or entertaining, enhanced by upgraded light fixtures throughout. With stylish flooring and no carpet anywhere in the home, it offers both elegance and practicality. Step outside to a private, wooded backyard, an exceptional and rare retreat in such a central location.

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Location


Property Details


Parking

  • Description: On Site, On Street
  • Details: Covered, Asphalt, On Site
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 4

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 2.0

Interior Features

  • # of Rooms: 9
  • # of Stories: 2
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Masonry
  • Roof Type: Gable or Hip
  • Roof Material: Shingle

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 3508494018
  • Lot Size: 20909 sqft

Property Information

  • Property Type: Single Family Residence
  • Year Built: 1963

Tax Information

  • Annual Tax: $0

Utilities

  • Water & Sewer: Public
  • Heating: Heat Pump, Electric
  • Cooling: Ceiling Fan(s)

Location

  • County: Wayne

Listing Details


Listed by:
Beth Hines
RE/MAX Southland Realty II
(919) 868-6316

Source:
Hive MLS (North Carolina Regional)
MLS#: 100524833
Hive MLS (North Carolina Regional)

Investment Summary


Potential Missing Expenses

We noticed that property taxes are missing—this is a standard expense and should be considered in your estimate.

Monthly Cash Flow
$197
Cap Rate
6.6%
Cash-on-Cash Return
4.1%
Debt Coverage Ratio
1.17
Internal Rate of Return (5 years)
8.0%

Purchase Details

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Purchase price:
$249,900
Amount financed:
-$199,920
Down payment:
$49,980
Closing costs:
$7,497
Rehab costs:
$0
Initial cash invested:
$57,477
Square feet:
2,105
Cost per square foot:
$119
Monthly rent per square foot:
$0.95

Financing Details

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Loan amount:
$199,920
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$1,183
Property tax:
$0
Insurance:
$140
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,323

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,000 $24,000
Vacancy loss: (6%)
6% -$120 -$1,440
Operating income:
$1,880 $22,560

Operating Expenses


% Rent Monthly Yearly
Property taxes: (n/a)
n/an/an/a
Insurance: (7%)
7%-$140-$1,680
Property management: (8%)
8%-$160-$1,920
Repairs & maintenance: (5%)
5%-$100-$1,200
Capital expenditures: (5%)
5%-$100-$1,200
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (25%)
25%-$500-$6,000

Cash Flow


Monthly Yearly
Net operating income:
$1,380 $16,560
Mortgage payments:
-$1,183 -$14,196
Cash flow:
$197 $2,364