Two-Bedroom
For Sale
$225,000
118-1 Lattimore Street, Shelby, NC 28150
The residence includes a private rear patio with a dedicated storage area.
Property Size1,221 SF
Price / SF$184.28
Days on Market20
Property Features for 118-1 Lattimore Street
General Information
Standard status
Active
Size
1,221 SF
Property subtype
Residential Income
Amenities
whirlpool tub
private patio
Building Details
Building Size
1,221 SF
Year Built
1988
Units
1
Listing Agency:
Clay & Associates Real Estate
(704) 482-7316
Listed By:
Myra Wilson
(704) 482-4425
Source:
Dylerealestate
Added: Oct 8
Changed: Oct 26
Last Checked: Oct 26 at 3:43AM
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 Clay & Associates Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,221-square-foot townhome in The Oaks has two bedrooms and two bathrooms. The kitchen comes with all appliances, including a new refrigerator; the other appliances are described as being in good condition. A whirlpool tub is installed in the primary bathroom, and a private patio at the rear connects to a storage area. The home was built in 1988.
Located at 118-1 Lattimore Street in Shelby, North Carolina, the property is part of The Oaks.
Located at 118-1 Lattimore Street in Shelby, North Carolina, the property is part of The Oaks.
Key Highlights
- Two bedrooms and two bathrooms
- 1,221 square feet
- Whirlpool tub in the primary bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,881
Cap Rate
4.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$197,620
$197.6K
Cap Rate 7%
$141,157
$141.2K
Cap Rate 9%
$109,789
$109.8K
Market Conditions
NOI Build-Up for 1,221 SF
Gross rent
$19.2K $15.72/SF
− Vacancy
−$1.2K −$1.01/SF
EGI
$18.0K $14.71/SF
− OpEx
−$8.1K −$6.62/SF
NOI
$9.9K $8.09/SF
Area
Cleveland County, NC
Vacancy
6.40%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$197,620
Cap Rate 7%
$141,157
Cap Rate 9%
$109,789
Alternative Uses
Best Use
Apartment 5plus
$141.2K
$123.5K – $164.7K
NOI $9,881 @ 7.0% cap · market cap 4.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$310.1K
$271.3K – $361.8K
NOI $21,705 @ 7.0% cap · market cap 9.65%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
125
Businesses Nearby
Explore this area
Business Placement
Demographics for 28150, NC
28,517
Population
13,482
Households
2.1
Avg Household Size
44
Median Age
24%
College-Educated
90%
High-School Grad
109.5 sq mi
ZIP Area
260
Density / Sq Mi
$53,027
Median Household Income
$36,843
Median Earnings
$793
Median Rent
$195,600
Median Home Value
Frequently Asked Questions
What type of property is this?
Residential income property - The residence includes a private rear patio with a dedicated storage area.
Where is this residential income property located?
The property is located at 118-1 Lattimore Street Shelby, NC.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Two bedrooms and two bathrooms; 1,221 square feet; Whirlpool tub in the primary bathroom
