Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Copied
Photo
Copied
Photo
Photo
Photo
Photo
See all photos

$220,000

For Sale - Active
2908 Ginger Rd, Kinston, NC 28504
4 Beds
2 Baths
2,000 Square Feet
0.50 Acres Lot
Built in 1969
For Sale - Active
Units n/a
Checked: 21 hours ago
Updated: Jun 07, 2025 at 03:03AM

Investment Summary


Monthly Cash Flow
-$54
Cap Rate
6.0%
Cash-on-Cash Return
-1.3%
Debt Coverage Ratio
0.95
Internal Rate of Return (5 years)
2.8%

Property Description


0.50 Acres Lot
Built in 1969
For Sale - Active
Units n/a

Rare find in great location this 4 bedroom 2 bath renovated brick ranch in well established neighborhood.

Build Your Team


Quickly find investor-friendly professionals who can help you succeed in real estate investing at any stage of the investing journey.

Agents

Match with investor-friendly agents who can help you find, analyze, and close your next deal

Find an Agent

Lenders

Get the best funding…find investor-friendly lenders who specialize in your deal strategy

Find a Lender

Property Managers

Transition to passive investing. Find a trusted property management partnership that lasts.

Find a Property Manager

Tax Pros & Accountants

Taxes and financial reporting made easy—find experts to create tax savings strategies, file taxes, and more

Find a Tax Pro

Location


Property Details


Parking

  • Description: Garage Faces Front
  • Details: Garage Faces Front
  • Garage Spaces: 0
  • Spaces Total: 2

Bedroom Information

  • # of Bedrooms: 4

Bathroom Information

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

Interior Features

  • # of Rooms: 8
  • # of Stories: 1
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Brick
  • Roof Material: Composition

Land Information

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

Lot Information

  • Parcel ID: 451607672800
  • Lot Size: 21780 sqft

Property Information

  • Property Type: Single Family Residence
  • Year Built: 1969

Tax Information

  • Annual Tax: $1,724

Utilities

  • Water & Sewer: Public
  • Heating: Electric, Heat Pump
  • Cooling: Central Air

Location

  • County: Lenoir

Listing Details


Listed by:
Myron Rouse
HEARTLAND REALTY
(252) 320-2158

Source:
Hive MLS (North Carolina Regional)
MLS#: 100420381
Hive MLS (North Carolina Regional)

Investment Summary


Monthly Cash Flow
-$54
Cap Rate
6.0%
Cash-on-Cash Return
-1.3%
Debt Coverage Ratio
0.95
Internal Rate of Return (5 years)
2.8%

Purchase Details

Find an Agent

Purchase price:
$220,000
Amount financed:
-$176,000
Down payment:
$44,000
Closing costs:
$6,600
Rehab costs:
$0
Initial cash invested:
$50,600
Square feet:
2,000
Cost per square foot:
$110
Monthly rent per square foot:
$0.90

Financing Details

Find a Lender

Loan amount:
$176,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.840%
Principal & interest:
$1,152
Property tax:
$144
Insurance:
$126
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,422

Operating Income

Find a Property Manager

% Rent Monthly Yearly
Gross rent:
$1,800 $21,600
Vacancy loss: (6%)
6% -$108 -$1,296
Operating income:
$1,692 $20,304

Operating Expenses


% Rent Monthly Yearly
Property taxes: (8%)
8%-$144-$1,724
Insurance: (7%)
7%-$126-$1,512
Property management: (8%)
8%-$144-$1,728
Repairs & maintenance: (5%)
5%-$90-$1,080
Capital expenditures: (5%)
5%-$90-$1,080
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (33%)
33%-$594-$7,124

Cash Flow


Monthly Yearly
Net operating income:
$1,098 $13,176
Mortgage payments:
-$1,152 -$13,824
Cash flow:
$54 $648