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$249,900

For Sale - Active
2303 Leigh St, Kinston, NC 28504
3 Beds
2 Baths
1,531 Square Feet
0.31 Acres Lot
Built in 1978
For Sale - Active
Units n/a
Checked: 15 hours ago
Updated: Jun 19, 2025 at 03:21AM

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
-$217
Cap Rate
4.6%
Cash-on-Cash Return
-4.5%
Debt Coverage Ratio
0.82
Internal Rate of Return (5 years)
-0.4%

Property Description


0.31 Acres Lot
Built in 1978
For Sale - Active
Units n/a

What a beauty! Located inside the city limits, it is fully renovated and ready to call home. Come check out this lovely home on a corner lot in an area convenient to everything you need—shopping, schools, medical, entertainment, dining, work, etc. Three bedrooms, two bathrooms, a large gathering room with an open concept smartly remodeled kitchen, and more would be great to review. Imagine yourself comfy in this charming home, entertaining family and friends. Please call today for your appointment to tour this great home. Seller offering $7,500.00 in closing costs

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Location


Property Details


Parking

  • Description: Street Only
  • Details: On Site
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

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

Interior Features

  • # of Rooms: 6
  • # of Stories: 1
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Combination
  • Foundation: Slab
  • Roof Material: Composition

Land Information

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

Lot Information

  • Parcel ID: 451616843525
  • Lot Size: 13504 sqft

Property Information

  • Property Type: Single Family Residence
  • Year Built: 1978

Tax Information

  • Annual Tax: $0

Utilities

  • Water & Sewer: Public
  • Heating: Heat Pump, Electric

Location

  • County: Lenoir

Listing Details


Listed by:
LISA BENTON
COASTAL CAROLINA SHOWCASE PROPERTIES, LLC
(252) 670-0650

Source:
Hive MLS (North Carolina Regional)
MLS#: 100499367
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
-$217
Cap Rate
4.6%
Cash-on-Cash Return
-4.5%
Debt Coverage Ratio
0.82
Internal Rate of Return (5 years)
-0.4%

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:
1,531
Cost per square foot:
$163
Monthly rent per square foot:
$0.91

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:
$98
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,281

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,400 $16,800
Vacancy loss: (6%)
6% -$84 -$1,008
Operating income:
$1,316 $15,792

Operating Expenses


% Rent Monthly Yearly
Property taxes: (n/a)
n/an/an/a
Insurance: (7%)
7%-$98-$1,176
Property management: (8%)
8%-$112-$1,344
Repairs & maintenance: (5%)
5%-$70-$840
Capital expenditures: (5%)
5%-$70-$840
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (25%)
25%-$350-$4,200

Cash Flow


Monthly Yearly
Net operating income:
$966 $11,592
Mortgage payments:
-$1,183 -$14,196
Cash flow:
$217 $2,604