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    133 Pheasant Ln Columbus, NC 28722

    Sponsored
    For Sale
    Under Contract
    $1,049,000

    MULTI_FAMILY - Columbus, NC

    Lot size:
    19.83 Acres
    Days on Market:
    108
    Last Refresh:
    Jan 21 at 12:06 am

    Property Features for 133 Pheasant Ln

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active Under Contract
    Window features
    Insulated Windows
    Zoning
    MU
    Rooms
    Bedroom 2, Bedroom 10, Bathroom 4, Bedroom 1, Bedroom 4, Bedroom 9, Bedroom 11, Bedroom 8, Bathroom 9, Bathroom 1, Basement, Bedroom 13, Bathroom 7, Bedroom 12, Bedroom 6, Bathroom 3, Bedroom 5, Bedroom 14, Bedroom 15, Bathroom 5, Bathroom 6, Bathroom 8, Bedroom 3, Bathroom 2, Bedroom 7
    Bedrooms
    15
    APN
    P109-4
    Parking features
    Driveway, Garage, Garage - Attached
    Patio and Porch features
    Deck, Porch
    Pets allowed
    Yes
    Exterior features
    Fence, Storage
    Fencing
    Fenced
    Fireplace
    1
    Basement
    Daylight, Full, Finished, Walk-Out Access, Storage Space, Walk-Up Access
    Accessibility
    Accessible Approach with Ramp
    Appliances
    Convection Oven, Dishwasher, Electric Cooktop, Microwave, Refrigerator
    Lot size
    19.83 Acres

    Utilities

    Utilities
    Cable Available
    Sewer type
    Private Sewer
    Heating system
    Central, Heat Pump (Heating), Electric (Heating)
    Cooling system
    Ceiling Fan(s), Central Air, Electric
    Water source
    Well

    Building Details

    Floors in Building
    1
    Number of units
    5
    Building materials
    Brick Partial, Block, Hardboard Siding, Vinyl, Wood
    Roof type
    Shingle, Metal
    Additional Structures
    Storage, Outbuilding

    We can help!

    Listing Contact
    Dallas Ducote
    Dallas Ducote

    Carolina Cottages (828) 692-7939 [email protected]

    Listing agent Dallas Ducote (828) 243-8132

    Listing date Oct 6, 2025

    MLS# 4302775 Listing URL

    Copyright © 2025 Canopy MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Columbus, NC Multifamily Investment Opportunity

    This 19.8-acre property in Columbus, NC, presents an opportunity for investors or those seeking to expand their rental portfolio. The parcel includes five dwellings. The main residence, located at 133 Pheasant Lane, is a site-built home featuring 4 bedrooms, 3 bathrooms, a walkout basement, and approximately 5,139 square feet of living space. A manufactured home at 173 Pheasant Lane offers 3 bedrooms, 2 bathrooms, and 1,316 heated square feet, complete with covered front and rear porches. Another site-built home, located at 79 Pheasant Lane, includes 3 bedrooms, 1 bathroom, and 1,494 square feet, also featuring covered front and back porches. Located at 145 Pheasant Lane is a 2-bedroom, 1-bath single-wide manufactured home with 720 square feet. Lastly, 135 Pheasant Lane is a 3-bedroom, 2-bath single-wide manufactured home that is currently be rented. All homes are served by wells, septic systems, overhead power, and wired internet. Approximately 9 acres of the property are open, mostly level, cleared, and easily accessible, making it ideal for future development. With no deed restrictions and no county zoning regulations, this land offers flexibility, including potential for establishing a mobile home park or additional housing units. Buyers are encouraged to contact Polk County Planning and Zoning for more information regarding development possibilities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Wholesale Shop Auto Repair Shop Home Appliance Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Polk
    State
    North Carolina
    Longitude
    -82.07599303
    Latitude
    35.20815199

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    FAQs

    What type of property is this?
    Single family property - 19.8 acres with five dwellings, ideal for investors.
    Where is this single family property located?
    The property is located at 133 Pheasant Ln Columbus, NC.
    What is the asking price?
    The asking price for this property is $1,049,000.
    What are key features of this property?
    This property features: - 19.8 acres with five dwellings on a single parcel.; - Excellent investment opportunity or expansion of rental portfolio.; - No deed restrictions and no county zoning regulations offer incredible flexibility.
    (828) 243-8132
    Request Owner's contact information
    133 Pheasant Ln Columbus, NC 28722
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    Columbus, NC 28722
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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
    133 Pheasant Ln Columbus, NC 28722
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    We can help!
    Listing Contact
    Dallas Ducote
    Dallas Ducote
    Real Estate License ID: 299370
    (828) 243-8132
    Learn more
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