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$550,000

For Sale - Active
120 New River Dr, Hertford, NC 27944
4 Beds
3 Baths
3,005 Square Feet
0.33 Acres Lot
Built in 2002
For Sale - Active
Units n/a
Checked: 6 hours ago
Updated: Jun 17, 2025 at 03:11AM

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
-$963
Cap Rate
3.6%
Cash-on-Cash Return
-9.1%
Debt Coverage Ratio
0.63
Internal Rate of Return (5 years)
-4.9%

Property Description


0.33 Acres Lot
Built in 2002
For Sale - Active
Units n/a

Welcome to your dream home in the prestigious Albemarle Plantation! This stunning brick 2-story residence features 4 spacious bedrooms and 2.5 bathrooms, providing ample space for comfort and relaxation. The home has been recently renovated, blending modern amenities with timeless charm. You'll find gleaming hardwood floors throughout the main living areas and a huge kitchen designed for the culinary enthusiast, with updated appliances and plenty of counter space. The primary living suite is a true retreat, offering a spacious layout that ensures privacy and comfort. Entertain guests in the large dining room, or work from home in the dedicated office. The enclosed back patio provides a serene space to enjoy your morning coffee, while the backyard deck is perfect for outdoor gatherings and enjoying the beautiful surroundings. Living in Albemarle Plantation means you'll have access to an array of world-class amenities. Start your day with a workout at the community center gym, or take a refreshing dip in the Soundside Pool. Enjoy casual dining at the Dockside Café or savor a gourmet meal at the Clubhouse Restaurant. Stay active with the tennis courts, or explore the vibrant social scene through various clubs and activities. For pet owners, there are well-maintained dog parks where your furry friends can play. This is a rare opportunity to build the home you've always envisioned in one of North Carolina's most sought-after waterfront communities.

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Location


Property Details


Parking

  • Description: Attached, Off Street, Garage Faces Side, Garage Door Opener, Concrete
  • Details: Garage Faces Side, Attached, Concrete, Garage Door Opener, Off Street
  • Garage Spaces: 2
  • Spaces Total: 2

Bedroom Information

  • # of Bedrooms: 4

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Partial): 1
  • # of Baths (Total): 3.0

Interior Features

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

Exterior Features

  • Exterior Walls Materials: Brick Veneer
  • Foundation: Brick/Mortar
  • Roof Material: Shingle

HOA

  • Has HOA: Yes
  • Association: APPOA
  • HOA Fee: $2,934/annually
  • Additional Association: APPI (Club Memberhsip) social club dues
  • Additional HOA Fee: $3,059/annually

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential (Assumed)

Lot Information

  • Parcel ID: 2D082F024AP
  • Lot Size: 14248 sqft

Property Information

  • Property Type: Single Family Residence
  • Year Built: 2002

Tax Information

  • Annual Tax: $0

Utilities

  • Water & Sewer: Public
  • Heating: Propane, Heat Pump, Forced Air
  • Cooling: Ceiling Fan(s), Central Air

Location

  • County: Perquimans

Listing Details


Listed by:
Steve Wentz
AP Realty Company, LLC
(252) 339-5735

Source:
Hive MLS (North Carolina Regional)
MLS#: 100462931
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
-$963
Cap Rate
3.6%
Cash-on-Cash Return
-9.1%
Debt Coverage Ratio
0.63
Internal Rate of Return (5 years)
-4.9%

Purchase Details

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Purchase price:
$550,000
Amount financed:
-$440,000
Down payment:
$110,000
Closing costs:
$16,500
Rehab costs:
$0
Initial cash invested:
$126,500
Square feet:
3,005
Cost per square foot:
$183
Monthly rent per square foot:
$1.03

Financing Details

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Loan amount:
$440,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$2,603
Property tax:
$0
Insurance:
$217
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,820

Operating Income

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% Rent Monthly Yearly
Gross rent:
$3,100 $37,200
Vacancy loss: (6%)
6% -$186 -$2,232
Operating income:
$2,914 $34,968

Operating Expenses


% Rent Monthly Yearly
Property taxes: (n/a)
n/an/an/a
Insurance: (7%)
7%-$217-$2,604
Property management: (8%)
8%-$248-$2,976
Repairs & maintenance: (5%)
5%-$155-$1,860
Capital expenditures: (5%)
5%-$155-$1,860
HOA fees: (16%)
16%-$499-$5,988
Total operating expenses: (41%)
41%-$1,274-$15,288

Cash Flow


Monthly Yearly
Net operating income:
$1,640 $19,680
Mortgage payments:
-$2,603 -$31,236
Cash flow:
$963 $11,556