Wadesboro · Wadesboro, NC
309 Morgan Street
Wadesboro, NC · 5,093 sqft
$499,000
- 8Beds
- 8Baths
- 5,093SqFt
- 1890Year
- IrregularLot
- 46Days on market
About this home
Beautiful historic home that has been converted to 8 apartments within walking distance to downtown Wadesboro. Currently generating over $59k in net cash flow generating over an 11% Cap rate!!! This building has maintained much of it's charm over the years with original hardwood floors and other classic accents throughout the building. Currently 8 of the apartments are occupied and many have been painted and refurbished. Most of the tenets have lived at this property for over a year. This property is a great opportunity for a savvy investor or anyone who loves big historic homes.
Property details
- Beds
- 8
- Baths
- 8
- SqFt
- 5,093
- Lot
- Irregular
- Year built
- 1890
- Type
- Single Family
- Days on market
- 46
- Heating
- Wall Furnace
- Cooling
- Ceiling Fan(s), Wall Unit(s)
- Foundation
- Crawl Space
Payment estimate
Estimated monthly payment
Includes P&I, tax, insurance
$3,672/ month
- Principal & interest
- $3,090
- Property tax (~1.05%)
- $436
- Homeowners insurance
- $145
- HOA dues
- —
Down payment
$24,950 down · $474,050 financed
Income to qualify (28% rule)
~$157,398 / year household
A rough rule — actual qualification depends on your full debt picture, credit, and the lender. John can introduce you to lenders he trusts.
Numbers are a directional estimate. Actual monthly cost varies by lender, credit, taxes assessed at closing, and insurance carrier. This is not a loan offer or pre-approval.