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516 Cross St 2 Unit Apartment Building $350,000 ($175,000/Unit) 6.88% Cap Rate Sanford, NC 27330
Executive Summary
This property is a duplex consisting of 2 units. Each unit is 2 bed and 1 bath and 964 sq ft and each rent for $1200 per month. CAP rate includes taxes, insurance and all maintenance costs.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts Under Contract
| Price | $350,000 | Apartment Style | Garden |
| Price Per Unit | $175,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.25 AC |
| Cap Rate | 6.88% | Building Size | 1,928 SF |
| No. Units | 2 | Average Occupancy | 50% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built/Renovated | 1951/2011 |
| Zoning | RESIDENTIA - Residential | ||
| Price | $350,000 |
| Price Per Unit | $175,000 |
| Sale Type | Investment |
| Cap Rate | 6.88% |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.25 AC |
| Building Size | 1,928 SF |
| Average Occupancy | 50% |
| No. Stories | 1 |
| Year Built/Renovated | 1951/2011 |
| Zoning | RESIDENTIA - Residential |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Cable Ready
- Storage Space
- Washer/Dryer
- Heating
- Ceiling Fans
- Tile Floors
- Kitchen
- Hardwood Floors
- High Speed Internet Access
- Refrigerator
- Range
- Tub/Shower
- Yard
- Attic
- Deck
- Double Pane Windows
- Family Room
- Lawn
Site Amenities
- Trash Pickup - Curbside
- Bicycle Storage
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 2 | $1,200 | 964 |
1 1
Fairly walkable
50/100
Moderately drivable
70/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 9643-40-2224-00 | Total Assessment | $174,100 |
| Land Assessment | $19,900 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $154,200 | Tax Year | 2025 Payable 2025 |
Property Taxes
Parcel Number
9643-40-2224-00
Land Assessment
$19,900
Improvements Assessment
$154,200
Total Assessment
$174,100
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025 Payable 2025
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Wreck2right LLC
516 Cross St
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