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    111-113 Red Oak Drive Louisburg, NC 27549

    View on Map
    For Sale
    $199,900

    LAND - Louisburg, NC

    Lot size:
    0.28 Acres
    Added:
    Sep 19, 2025
    Days on Market:
    194
    Last Refresh:
    Mar 31 at 7:06 pm

    Property Features for 111-113 Red Oak Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Vegetation
    Partially Wooded
    Standard status
    Active
    APN
    2831465877
    Lot size
    0.28 Acres

    Taxes and HOA fees

    TaxYear
    2025
    TaxDescription
    LO563C & 562C Lake Royale

    Utilities

    Utilities
    Cable Available
    Sewer type
    Septic Tank

    Building Details

    Additional Structures
    Storage

    We can help!

    Listing Contact
    Jim Allen

    Listing agent Jim Allen

    Listing office Coldwell Banker HPW 5000 Falls Of Neuse Rd.Ste.100, Raleigh, NC

    Listing date Sep 19, 2025

    MLS# 10122953

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

    Overview

    Lake Royale Tiny Home and Lot

    This property features a double lot within the gated lake community of Lake Royale. It includes a low-maintenance tiny home suitable for full-time living, weekend getaways, or an affordable second home near the water. The tiny home has approximately 349 square feet of total living space, with 224 square feet on the main level and 125 square feet of combined loft space. The interior features shiplap walls, a tongue and groove ceiling, and luxury vinyl plank flooring. The kitchen is equipped with quartz countertops, custom cabinetry, a stainless workstation sink, full-size appliances, an electric range with a vent hood, pantry cubbies, and a washer/dryer hookup. The bathroom includes a residential shower, quartz vanity, and custom cabinetry. The primary loft has a built-in closet. A mini-split system provides efficient heating and cooling. The structure is built on a "Trailer Made" trailer and includes 50-amp service, 17 windows, cedar siding, cedar shake accents, and a metal roof. The property also features a 12x24 climate-controlled shed, an 8x24 covered storage area, two driveways, and a septic system. The lot size is 0.28 acres. Community amenities include boating, fishing, swimming, a pool, a clubhouse, and recreation areas. The property is located in Louisburg, NC.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Louisburg
    County
    Franklin
    State
    North Carolina
    Longitude
    -78.2363
    Latitude
    36.0721

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    FAQs

    What type of property is this?
    Single family property - Tiny home in gated community with lake access and amenities.
    Where is this single family property located?
    The property is located at 111-113 Red Oak Drive Louisburg, NC.
    What is the asking price?
    The asking price for this property is $199,900.
    What are key features of this property?
    This property features: Gated lake community with amenities: boating, fishing, swimming pool, clubhouse, and recreation areas.; Turnkey tiny home on a double lot, suitable for full‑time living, weekend use, or second home.; Includes a 12x24 climate‑controlled shed and 8x24 covered storage.
    (919) 645-2114
    We can help!
    Listing Contact
    Jim Allen
    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.

    More about this property
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