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$359,000

For Sale - Active
2131 Neuse Cliffs Cir, New Bern, NC 28560
3 Beds
4 Baths
2,101 Square Feet
0.49 Acres Lot
Built in 1965
For Sale - Active
Units n/a
Checked: 13 hours ago
Updated: Jul 16, 2025 at 03:04AM

Investment Summary


Monthly Cash Flow
-$274
Cap Rate
4.8%
Cash-on-Cash Return
-4.0%
Debt Coverage Ratio
0.84
Internal Rate of Return (5 years)
0.1%

Property Description


0.49 Acres Lot
Built in 1965
For Sale - Active
Units n/a

Watch the sunrise over the Neuse in this beautifully updated split-level home. Located on a corner lot, the home features 3 bedrooms, 3.5 bathrooms, and 2 versatile bonus rooms with modern finishes throughout. The main living area includes a completely renovated kitchen with an eat-in space and a spacious living room. Upstairs, you'll find 2.5 bathrooms and 3 bedrooms, two of which have access to the deck and offer river views. The finished basement has interior access via stairs by the foyer. This space also has a door to the outside. The Basement boasts a den, a full bathroom, a large laundry room, and an additional bonus room. Fresh paint, new flooring, and updated lighting create a bright, inviting atmosphere. The deck has been updated with new boards, perfect for enjoying scenic views of the Neuse River. A newly built-in fireplace adds warmth and charm to the living area. Outside, you'll find a detached 374 sq. ft. storage/workshop area and a 2-car carport. All of this and you only pay County taxes!

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Location


Property Details


Parking

  • Description: Concrete, Covered
  • Details: Workshop in Garage, Garage Faces Side, Covered, Paved
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 3
  • # of Baths (Partial): 1
  • # of Baths (Total): 4.0

Interior Features

  • # of Rooms: 9
  • # of Stories: 2
  • Basement: Yes
  • Basement Description: Finished, Exterior Entry

Exterior Features

  • Exterior Walls Materials: Brick Veneer
  • Foundation: Block, Slab
  • Roof Type: Gable
  • Roof Material: Shingle

Land Information

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

Lot Information

  • Parcel ID: 7017039
  • Lot Size: 21344 sqft

Property Information

  • Property Type: Single Family Residence
  • Year Built: 1965

Tax Information

  • Annual Tax: $1,119

Utilities

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

Location

  • County: Craven

Listing Details


Listed by:
CASSANDRA DIGBY
Keller Williams Realty
(336) 202-1125

Source:
Hive MLS (North Carolina Regional)
MLS#: 100488731
Hive MLS (North Carolina Regional)

Investment Summary


Monthly Cash Flow
-$274
Cap Rate
4.8%
Cash-on-Cash Return
-4.0%
Debt Coverage Ratio
0.84
Internal Rate of Return (5 years)
0.1%

Purchase Details

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Purchase price:
$359,000
Amount financed:
-$287,200
Down payment:
$71,800
Closing costs:
$10,770
Rehab costs:
$0
Initial cash invested:
$82,570
Square feet:
2,101
Cost per square foot:
$171
Monthly rent per square foot:
$1.05

Financing Details

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Loan amount:
$287,200
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$1,699
Property tax:
$93
Insurance:
$154
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,946

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,200 $26,400
Vacancy loss: (6%)
6% -$132 -$1,584
Operating income:
$2,068 $24,816

Operating Expenses


% Rent Monthly Yearly
Property taxes: (4%)
4%-$93-$1,119
Insurance: (7%)
7%-$154-$1,848
Property management: (8%)
8%-$176-$2,112
Repairs & maintenance: (5%)
5%-$110-$1,320
Capital expenditures: (5%)
5%-$110-$1,320
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (29%)
29%-$643-$7,719

Cash Flow


Monthly Yearly
Net operating income:
$1,425 $17,100
Mortgage payments:
-$1,699 -$20,388
Cash flow:
$274 $3,288