Furnished Short-Term Rental
For Sale
$1,895,000
118 S Grace Street, Rocky Mount, NC 27804
The collection brings together three duplexes and four townhomes for furnished extended-stay accommodation.
Property Size9,465 SF
Price / SF$200.21
Days on Market10
Property Features for 118 S Grace Street
General Information
Standard status
Active
Size
9,465 SF
Property subtype
Residential Income
Additional Details
Furnished
Yes
Gross Income
$214,000
Highway Access
Yes
Multifamily Units
10
Currently Operating
Yes
Taxes and HOA fees
Annual Taxes
$7,686
Amenities
smart systems
Luxury Vinyl
3
true
14
18
Inside
9465
Corner Lot
Public
0.73
Asphalt,Common,Open
Crawlspace
City Street
Building Details
Building Size
9,465 SF
Year Built
2023
Stories
2
Listing Agency:
(919) 752-3531
Listed By:
Keith Bliss
Source:
Bliss-realestate
Added: Oct 21
Changed: Oct 28
Last Checked: Oct 28 at 5:03PM
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 Keith Bliss
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Investment Insights
Based on property information with market context.
This furnished rental portfolio comprises three duplexes and four townhomes within one community in Rocky Mount. The residences are renovated or newly constructed, with work completed from 2023 to 2025. Smart security systems and electronic keypads are in place, and the homes operate as extended-stay accommodations. The portfolio includes individually deeded parcels and is reported to have more than 100 guest reviews.
The property is near UNC Health Nash, Rocky Mount Mills, downtown Rocky Mount, and access to I-95. Two parcels are identified as locations where additional ADUs could be added; the source describes this as a possible expansion, not existing improvements.
The property is near UNC Health Nash, Rocky Mount Mills, downtown Rocky Mount, and access to I-95. Two parcels are identified as locations where additional ADUs could be added; the source describes this as a possible expansion, not existing improvements.
Key Highlights
- Three duplexes and four townhomes in one community
- Furnished residences operating as extended‑stay rentals
- Renovation and construction dates range from 2023 to 2025
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$94,258
Cap Rate
4.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,885,160
$1.9M
Cap Rate 7%
$1,346,543
$1.3M
Cap Rate 9%
$1,047,311
$1.0M
Market Conditions
NOI Build-Up for 9,465 SF
Gross rent
$144.2K $15.24/SF
− Vacancy
−$9.6K −$1.01/SF
EGI
$134.7K $14.23/SF
− OpEx
−$40.4K −$4.27/SF
NOI
$94.3K $9.96/SF
Area
Nash County, NC
Vacancy
6.65%
Lease Rate
$15.24 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,885,160
Cap Rate 7%
$1,346,543
Cap Rate 9%
$1,047,311
Alternative Uses
Best Use
Multifamily LT 5
$1.35M
$1.18M – $1.57M
NOI $94,258 @ 7.0% cap · market cap 4.97%
Second Best
Apartment 5plus
$1.20M
$1.05M – $1.39M
NOI $83,658 @ 7.0% cap · market cap 4.41%
Theoretical Best
Office A
$3.12M
$2.73M – $3.64M
NOI $218,441 @ 7.0% cap · market cap 11.53%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
10
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
860
Businesses Nearby
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Business Placement
Demographics for 27804, NC
28,707
Population
14,352
Households
2
Avg Household Size
42
Median Age
27%
College-Educated
89%
High-School Grad
43.0 sq mi
ZIP Area
668
Density / Sq Mi
$58,837
Median Household Income
$36,445
Median Earnings
$977
Median Rent
$177,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Short term rental property - The collection brings together three duplexes and four townhomes for furnished extended-stay accommodation.
Where is this short term rental property located?
The property is located at 118 S Grace Street Rocky Mount, NC.
What is the asking price?
The asking price for this property is $1,895,000.
What are key features of this property?
This property features: Three duplexes and four townhomes in one community; Furnished residences operating as extended‑stay rentals; Renovation and construction dates range from 2023 to 2025
