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$249,900

For Sale - Active
1552 Hwy 258 N, Kinston, NC 28504
3 Beds
2 Baths
1,578 Square Feet
0.92 Acres Lot
Built in 1963
For Sale - Active
Units n/a
Checked: 13 hours ago
Updated: May 07, 2025 at 03:15AM

Investment Summary


Monthly Cash Flow
-$464
Cap Rate
3.5%
Cash-on-Cash Return
-9.7%
Debt Coverage Ratio
0.61
Internal Rate of Return (5 years)
-5.4%

Property Description


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

WELCOME HOME! THIS GORGEOUS 3 BEDROOM/2 BATHROOM HOME IS MOVE IN READY. SO MANY UPDATES.... NEW PAINT AND FLOORING THROUGHOUT ENTIRE HOME, UPDATED KITCHEN AND BATHROOMS, NEW CHAINLINK FENCE, NEW WINDOWS, NEW ROOF, NEW HVAC, AND MORE! THIS HOME ALSO HAS A LARGE LOT WITH TWO SPACIOUS BUILDINGS. NEARLY EVERYTHING IN THIS HOME HAS BEEN UPGRADED! CALL FOR YOUR PRIVATE SHOWING TODAY!

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Location


Property Details


Parking

  • Description: Additional Parking
  • Details: Concrete
  • Garage Spaces: 0
  • Spaces Total: 1

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

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

Interior Features

  • # of Rooms: 6
  • # of Stories: 2
  • Basement Description: Crawl Space

Exterior Features

  • Exterior Walls Materials: Brick
  • Roof Material: Shingle

Land Information

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

Lot Information

  • Parcel ID: 450501480598
  • Lot Size: 40075 sqft

Property Information

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

Tax Information

  • Annual Tax: $1,301

Utilities

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

Location

  • County: Lenoir

Listing Details


Listed by:
ASHLEY PRICE
KINSTON REALTY GROUP
(252) 775-1886

Source:
Hive MLS (North Carolina Regional)
MLS#: 100493397
Hive MLS (North Carolina Regional)

Investment Summary


Monthly Cash Flow
-$464
Cap Rate
3.5%
Cash-on-Cash Return
-9.7%
Debt Coverage Ratio
0.61
Internal Rate of Return (5 years)
-5.4%

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:
1,578
Cost per square foot:
$158
Monthly rent per square foot:
$0.76

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:
$109
Insurance:
$84
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,376

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,200 $14,400
Vacancy loss: (6%)
6% -$72 -$864
Operating income:
$1,128 $13,536

Operating Expenses


% Rent Monthly Yearly
Property taxes: (9%)
9%-$109-$1,302
Insurance: (7%)
7%-$84-$1,008
Property management: (8%)
8%-$96-$1,152
Repairs & maintenance: (5%)
5%-$60-$720
Capital expenditures: (5%)
5%-$60-$720
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (34%)
34%-$409-$4,902

Cash Flow


Monthly Yearly
Net operating income:
$719 $8,628
Mortgage payments:
-$1,183 -$14,196
Cash flow:
$464 $5,568