Eastwood Village Retirement
For Sale
$220,000
111 Holly Court, Bostic, NC 28018
Single-level residence with clubhouse, pool, attached garage, and two-bedroom, two-bath configuration.
Property Size1,348 SF
Price / SF$163.20
Days on Market8
Property Features for 111 Holly Court
General Information
Standard status
Active
Size
1,348 SF
Total Parking Spaces
1
Property subtype
Duplex
Amenities
clubhouse
pool
Size: 0.04, Size Units: Acres
Features: Fenced, In Ground, Private Pool
Description: Architectural Shingle
Garage Spaces: 1, Man Level Garage: 1
Details: Heat Pump
Heating: Heat Pump
Description: In Hall
Days on Market: 1, Listing Price: 220000, Status: Active
Elementary: Unspecified, Middle/Junior High: Unspecified, High School: Unspecified
Total Bathrooms: 2
Finished Area Above Grade: 1348, Area: 1348, Building Area: 1348, Construction Materials: Vinyl, Year Built: 1987, Construction Type: Site Built
City: Bostic, State: NC, Zip: 28018, County: Rutherford, Subdivision: Eastwood Village, Directions: From Main Street in Forest City take US 74 Business toward Ellenboro. Turn right on Fairhaven Drive. Home will be in the cul-de-sac on the left.
Full Bathrooms: 2
Sewer: Septic Installed, Water Source: Public
Description: Yes, Number Limit
Auction Y/N: 0
Description: Dishwasher, Refrigerator
Dues Frequency: Annually, Fee: 120
Building Details
Building Size
1,348 SF
Year Built
1987
Listing Agency:
Purple Martin Realty, Inc.
(828) 429-4641
Listed By:
Kathy Key
(828) 429-4641
Source:
Blackstreaminternational
Added: Aug 4
Changed: Aug 11
Last Checked: Aug 11 at 6:14AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Purple Martin Realty, Inc.
Investment Insights
Based on property information with market context.
Eastwood Village Retirement Community offers a one-level residential layout with a large living room opening to a sunroom. The home includes a primary bedroom with a private bathroom, a second bedroom, and another full bathroom for guests or additional household use. A single-car garage provides enclosed parking and includes a sizable storage closet.
Community amenities include a clubhouse and pool. Weekly maintenance, trash pickup, and termite contracts are provided for all units. The property was built in 1987 and is located at 111 Holly Court in Bostic, North Carolina.
Community amenities include a clubhouse and pool. Weekly maintenance, trash pickup, and termite contracts are provided for all units. The property was built in 1987 and is located at 111 Holly Court in Bostic, North Carolina.
Key Highlights
- One‑level retirement home with 1,348 property size
- Clubhouse and pool included in the community
- Large living room connects to a sunroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$7,297
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.32%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$145,940
$145.9K
Cap Rate 7%
$104,243
$104.2K
Cap Rate 9%
$81,078
$81.1K
Market Conditions
NOI Build-Up for 1,348 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$14.2K $10.56/SF
− Vacancy
−$968 −$0.72/SF
EGI
$13.3K $9.84/SF
− OpEx
−$6.0K −$4.43/SF
NOI
$7.3K $5.41/SF
Area
Rutherford County, NC
Vacancy
6.80%
Lease Rate
$10.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$145,940
Cap Rate 7%
$104,243
Cap Rate 9%
$81,078
Alternative Uses
Best Use
Apartment 5plus
$104.2K
$91.2K – $121.6K
NOI $7,297 @ 7.0% cap · market cap 3.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$297.3K
$260.1K – $346.8K
NOI $20,809 @ 7.0% cap · market cap 9.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
11
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28018, NC
5,320
Population
2,681
Households
2
Avg Household Size
48
Median Age
22%
College-Educated
90%
High-School Grad
99.5 sq mi
ZIP Area
53
Density / Sq Mi
$54,432
Median Household Income
$37,652
Median Earnings
$800
Median Rent
$152,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Senior housing / Retirement Home - Single-level residence with clubhouse, pool, attached garage, and two-bedroom, two-bath configuration.
Where is this senior housing / retirement home located?
The property is located at 111 Holly Court Bostic, NC.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: One‑level retirement home with 1,348 property size; Clubhouse and pool included in the community; Large living room connects to a sunroom
