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$500,000

Sale Pending
831 Greenbriar Rd, Wilmington, NC 28409
3 Beds
3 Baths
1,905 Square Feet
0.48 Acres Lot
Built in 1979
Sale Pending
Units n/a
Checked: 12 hours ago
Updated: Jun 18, 2025 at 03:09AM

Investment Summary


Monthly Cash Flow
-$795
Cap Rate
4.4%
Cash-on-Cash Return
-8.3%
Debt Coverage Ratio
0.70
Internal Rate of Return (5 years)
-4.0%

Property Description


0.48 Acres Lot
Built in 1979
Sale Pending
Units n/a

Come see this picturesque home with an in-ground saltwater pool, situated on a spacious corner lot in the sought-after neighborhood of Greenbriar. As you approach the home, you'll be greeted by the welcoming front porch and a majestic live oak tree in the front yard. Step inside to find a charming split-level home with 3 spacious bedrooms, 2.5 baths, 2 separate living spaces, an office/flex room, and a large laundry room with storage. The kitchen is open to the dining area and overlooks the expansive backyard. For those with hobbies or recreational vehicles, the large two-car garage includes extra space for work or storage, while a second driveway leads to an aluminum carport, providing convenient storage for your boat or RV. Venture outside to discover your personal oasis—a fenced backyard featuring a spacious covered patio and a sparkling saltwater pool, perfect for endless summer fun. An outdoor building ready to use as a workshop or additional storage adds versatility to this already impressive property. Home is centrally located, has no HOA, no city taxes, and is conveniently located only 15-20 minutes from local beaches and downtown Wilmington.

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Location


Property Details


Parking

  • Description: Concrete, On Site
  • Details: Garage Faces Side, Attached, Additional Parking, Off Street, Paved
  • Garage Spaces: 2
  • Spaces Total: 2

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Partial): 1
  • # of Baths (Total): 3.0

Interior Features

  • # of Rooms: 9
  • # of Stories: 2
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Wood
  • Pool: Yes

Land Information

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

Lot Information

  • Parcel ID: R07606004001000
  • Lot Size: 20909 sqft

Property Information

  • Property Type: Single Family Residence
  • Year Built: 1979

Tax Information

  • Annual Tax: $1,302

Utilities

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

Location

  • County: New Hanover

Listing Details


Listed by:
Janet C Byrd
Intracoastal Realty Corp
(412) 728-3213

Source:
Hive MLS (North Carolina Regional)
MLS#: 100506310
Hive MLS (North Carolina Regional)

Investment Summary


Monthly Cash Flow
-$795
Cap Rate
4.4%
Cash-on-Cash Return
-8.3%
Debt Coverage Ratio
0.70
Internal Rate of Return (5 years)
-4.0%

Purchase Details

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Purchase price:
$500,000
Amount financed:
-$400,000
Down payment:
$100,000
Closing costs:
$15,000
Rehab costs:
$0
Initial cash invested:
$115,000
Square feet:
1,905
Cost per square foot:
$262
Monthly rent per square foot:
$1.47

Financing Details

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Loan amount:
$400,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.840%
Principal & interest:
$2,618
Property tax:
$109
Insurance:
$196
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,923

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,800 $33,600
Vacancy loss: (6%)
6% -$168 -$2,016
Operating income:
$2,632 $31,584

Operating Expenses


% Rent Monthly Yearly
Property taxes: (4%)
4%-$109-$1,303
Insurance: (7%)
7%-$196-$2,352
Property management: (8%)
8%-$224-$2,688
Repairs & maintenance: (5%)
5%-$140-$1,680
Capital expenditures: (5%)
5%-$140-$1,680
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (29%)
29%-$809-$9,703

Cash Flow


Monthly Yearly
Net operating income:
$1,823 $21,876
Mortgage payments:
-$2,618 -$31,416
Cash flow:
$795 $9,540