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905 N Park Road Burlington, NC 27217
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Key Details
Sold Price $123,800
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Sold
Purchase Type For Sale
Square Footage 816 sqft
Price per Sqft $151
Subdivision Not In A Subdivision
MLS Listing ID 10072297
Sold Date 02/24/25
Bedrooms 2
Full Baths 1
HOA Y/N No
Abv Grd Liv Area 816
Originating Board Triangle MLS
Year Built 1995
Annual Tax Amount $551
Lot Size 7,405 Sqft
Acres 0.17
Property Sub-Type Single Family Residence
Property Description
This charming ranch-style home on a .18-acre lot offers great potential for rental income growth. Located just a short walk from North Park, the property features two cozy bedrooms with carpeting, a bathroom with a tub/shower combo and vinyl flooring, and a covered front porch. Currently rented at $570/month through the Graham Housing Authority on a month-to-month lease, this is well below market value and has just been approved for an increase to $925/month starting in March.
The property is priced to provide a strong return, offering a CAP rate of over 7.2% based on fair market rental rates with room to increase with updates. Recent updates include a new roof installed in 2022, new HVAC system in 2023, and a new water heater in 2024. Sold AS-IS.
Don't miss out on this chance to grow your cash flow in a desirable location with room for improvement.
Location
State NC
County Alamance
Direction From Downtown Burlington: Head north on S Main St toward W Davis St. Continue straight as Main St becomes N Park Rd. Follow N Park Rd until you reach 905 N Park Rd on the left. From I-40/I-85: Take exit 143 for NC-62 N toward Alamance/Burlington. Continue on NC-62 N. Turn right onto N Park Rd and continue straight until you arrive at 905 N Park Rd. From Alamance Rd (US-70): Head west on Alamance Rd, then turn right onto N Park Rd. Continue north, and 905 N Park Rd will be on your right.
Interior
Heating Central
Cooling Central Air
Flooring Carpet
Exterior
Utilities Available Electricity Connected, Sewer Connected, Water Connected
View Y/N Yes
Roof Type Shingle
Garage No
Private Pool No
Building
Lot Description Back Yard, Front Yard
Faces From Downtown Burlington: Head north on S Main St toward W Davis St. Continue straight as Main St becomes N Park Rd. Follow N Park Rd until you reach 905 N Park Rd on the left. From I-40/I-85: Take exit 143 for NC-62 N toward Alamance/Burlington. Continue on NC-62 N. Turn right onto N Park Rd and continue straight until you arrive at 905 N Park Rd. From Alamance Rd (US-70): Head west on Alamance Rd, then turn right onto N Park Rd. Continue north, and 905 N Park Rd will be on your right.
Story 1
Foundation Raised
Sewer Public Sewer
Water Public
Architectural Style Ranch
Level or Stories 1
Structure Type Frame,Stucco
New Construction No
Schools
Elementary Schools Alamance - R Homer Andrews
Middle Schools Alamance - Broadview
High Schools Alamance - Hugh Cummings
Others
Tax ID 140641
Special Listing Condition Real Estate Owned
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