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    Turn-Key Multifamily Investment Opportunity Title is generated by Realmo AI

    1103 N Elm Street, Lumberton, NC 28358

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    Claim this Listing
    For Sale
    $1,500,000

    MULTI_FAMILY - Lumberton, NC

    Added:
    Nov 20, 2025
    Days on Market:
    183
    Last Refresh:
    May 22 at 12:06 am

    Property Features for 1103 N Elm Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    APN
    3227-05-013

    Taxes and HOA fees

    Tax Description
    LT ELM STREET

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Number of units
    5

    We can help!

    Listing Contact
    DAVID ZEITZ
    DAVID ZEITZ

    Listing agent DAVID ZEITZ License #200804

    Listing office COLDWELL BANKER PREMIER TEAM REALTY 703 FARRINGDOM ST, LUMBERTON, NC

    Listing date Nov 20, 2025

    MLS# 753726 Listing URL

    Copyright © 2026 Longleaf Pine Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Turn‑key investment opportunity: Four fully furnished single‑family properties.
    • Net Operating Income of $143,000 per year.
    • Properties used as short‑term and long‑term rentals.
    • Recent updates and improvements across all properties.
    • Complete remodel of main suite at 307 W 18th St, including bath and walk‑in closet.
    • Four properties being sold together: 1103 N Elm St, 3702‑2 Cliffridge Dr, 840 Jane St, 307 W 18th St.

    Overview

    This is a turn-key investment opportunity featuring four single-family properties, fully furnished and utilized as both short-term and long-term rentals. The properties generate a Net Operating Income of $143,000 per year. The properties are located in Lumberton, NC 28358 and include the following addresses: 1103 N Elm St, 3702-2 Cliffridge Dr, 840 Jane St, 307 W 18th St. Recent improvements have been made to the properties. At 1103 N Elm St, updates include new duct work under the home, a new disposal in the kitchen, new paint in several rooms, a new HVAC in the cottage, new drain lines for the cottage, and extensive landscaping and driveway improvements. At 307 W 18th St, renovations include a complete remodel of a main suite with the addition of a complete bath and walk-in closet, new floors throughout, new paint and wallpaper throughout, a new drive-through and parking lot in the back of the house, new siding, paint on the back of the home, and upgrades to all bathrooms. 840 Jane Street features new landscaping in front of the house. The seller has provided an Annual Property Operating Data sheet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lumberton
    County
    Robeson
    State
    North Carolina
    Longitude
    -79.008789
    Latitude
    34.624935

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    FAQs

    What type of property is this?
    Short term rental property - Four fully furnished single-family properties used as short-term and long-term rentals.
    Where is this short term rental property located?
    The property is located at 1103 N Elm Street Lumberton, NC.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: Turn‑key investment opportunity: Four fully furnished single‑family properties.; Net Operating Income of $143,000 per year.; Properties used as short‑term and long‑term rentals.
    (910) 536-4663
    We can help!
    Listing Contact
    DAVID ZEITZ
    DAVID ZEITZ
    Real Estate License ID: 200804
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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