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$1,145,000

For Sale - Active
442 Whichards Beach Rd, Chocowinity, NC 27817
5 Beds
5 Baths
5,124 Square Feet
33.45 Acres Lot
Built in 1963
For Sale - Active
Units n/a
Checked: 18 hours ago
Updated: Sep 08, 2025 at 10:04AM

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
-$2,382
Cap Rate
3.2%
Cash-on-Cash Return
-10.9%
Debt Coverage Ratio
0.56
Internal Rate of Return (5 years)
-6.5%

Property Description


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

MAJOR PRICE IMPROVEMENT! TALLEY CREEK FARMS - FIRST TIME OFFERING! Situated on a sprawling 33.45 acres, a rare chance is now available to purchase this premier estate! Featuring over 5,000 square feet, this 1960's custom built beauty offers 5 bedrooms and 4.5 baths with original charm and stunning renovations throughout! The stunning foyer welcomes you home with the grand staircase and original wallpaper, formal living & dining areas for all of your entertaining dreams, and an unbelievable kitchen renovation with all new cabinets, new granite counters, new tile backsplash, new stainless steel appliances, and a HUGE island for friends and family to gather! On the main level, you'll also find a relaxing primary suite with attached full bath, a cozy den w/ fireplace, a large laundry room, a half bath for guests, and a spacious sunroom overlooking the backyard! Upstairs, you'll find four additional bedrooms and three additional full baths (two of which have been completely renovated with new flooring, new vanities, and new tiled showers)! There is a large bonus room on this level too with lots of possibilities! You'll find plenty of storage with the walk-in and walk-up attic spaces! There is also a 2-car attached garage! New LVP floors have been installed in many areas throughout the home and new thermal windows have also been installed! There is endless potential for this gorgeous property as it is currently operating as a successful event venue and a private residence! Enjoy the wildlife throughout all of your wooded acreage on this property! Just minutes from restaurants, shoppes, & more along the waterfront in Washington's Historic District! Easy commute to New Bern or Greenville- home of East Carolina University & ECU Health! Only 1.5 hours to the Crystal Coast Beaches of North Carolina! Don't miss this opportunity at $1,145,000! SHOWN BY APPOINTMENT ONLY!

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Location


Property Details


Parking

  • Description: On Site, Unpaved
  • Details: On Site, Unpaved
  • Garage Spaces: 2
  • Spaces Total: 2

Bedroom Information

  • # of Bedrooms: 5

Bathroom Information

  • # of Baths (Full): 4
  • # of Baths (Partial): 1
  • # of Baths (Total): 5.0

Interior Features

  • # of Rooms: 12
  • # of Stories: 2
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Wood
  • Roof Type: Gable or Hip

Land Information

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

Lot Information

  • Parcel ID: 5675418640
  • Lot Size: 1457082 sqft

Property Information

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

Tax Information

  • Annual Tax: $0

Utilities

  • Heating: Electric, Heat Pump
  • Cooling: Ceiling Fan(s), Central Air

Location

  • County: Beaufort

Listing Details


Listed by:
Jackson Lancaster
eXp Realty
(252) 402-9067

Source:
Hive MLS (North Carolina Regional)
MLS#: 100487428
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
-$2,382
Cap Rate
3.2%
Cash-on-Cash Return
-10.9%
Debt Coverage Ratio
0.56
Internal Rate of Return (5 years)
-6.5%

Purchase Details

Find an Agent

Purchase price:
$1,145,000
Amount financed:
-$916,000
Down payment:
$229,000
Closing costs:
$34,350
Rehab costs:
$0
Initial cash invested:
$263,350
Square feet:
5,124
Cost per square foot:
$223
Monthly rent per square foot:
$0.86

Financing Details

Find a Lender

Loan amount:
$916,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$5,418
Property tax:
$0
Insurance:
$308
Private mortgage insurance (PMI):
$0
Monthly payment:
$5,726

Operating Income

Find a Property Manager

% Rent Monthly Yearly
Gross rent:
$4,400 $52,800
Vacancy loss: (6%)
6% -$264 -$3,168
Operating income:
$4,136 $49,632

Operating Expenses


% Rent Monthly Yearly
Property taxes: (n/a)
n/an/an/a
Insurance: (7%)
7%-$308-$3,696
Property management: (8%)
8%-$352-$4,224
Repairs & maintenance: (5%)
5%-$220-$2,640
Capital expenditures: (5%)
5%-$220-$2,640
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (25%)
25%-$1,100-$13,200

Cash Flow


Monthly Yearly
Net operating income:
$3,036 $36,432
Mortgage payments:
-$5,418 -$65,016
Cash flow:
-$2,382 -$28,584