High Point Multifamily Investment
1500 Deep River Road, High Point, NC 27265
New
MULTI_FAMILY - High Point, NC
Type:Apartment
Property size:
5,200 SFLot size:
1.10 AcresPrice / SF:
$134/SF- Added:
- May 15, 2026
- Days on Market:
- 1
- Last Refresh:
- May 15 at 3:06 pm
Property Features for 1500 Deep River Road
General Information
- Property type
- Residential Multi Family
- Property subtype
- Apartment
- Zoning
- RM-8
- Parking
- 16
- Appliances
- Electric Water Heater
- Standard status
- Active
- Size
- 5,200 SF
- Lot size
- 1.10 Acres
Utilities
- Sewer type
- Public Sewer
- Heating system
- Heat Pump (Heating), Electric (Heating)
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1986
- Number of units
- 7
- Flooring type
- Vinyl, Concrete, Carpet
- Building materials
- Brick, Wood Siding
Listing agent Marshall Morgan License #206974 (336) 906-1314
Listing office Keller Williams Realty High Point, NC (336) 804-0200
Listing date May 15, 2026
MLS# 1219675
Listing URL
Copyright © 2026 Triad Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Steady Income: Current gross monthly revenue of $5200 with rents ranging from $700 to $800 per unit.
- Low Maintenance: Tenants pay their own utilities, and gutter guards are in place.
- Ample Parking: Features ample paved parking for tenants and guests.
- Included Appliances: Refrigerators and stoves are owned by the seller and included in the sale.
- Recent Exterior Paint: Exterior was painted in April 2026.
- Central Location: Located across from Deep River Villas townhomes.
Overview
This single-story, seven-unit apartment building is located across from Deep River Villas townhomes. The property features ample paved parking. Tenants are responsible for their own utilities. The seller owns the refrigerators and stoves, which are included in the sale. Washers and dryers are owned by the tenants. Rents range from $700 to $800 per month, with a current total gross monthly revenue of $5200. The exterior was painted in April 2026. Gutter guards are in place to reduce maintenance. The property is zoned RM-8 and situated on a 1.1-acre lot.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$350.1K
NOI $31,509 @ 9.00% cap · cautious / downside scenario
Moderate
$450.1K
NOI $31,509 @ 7.00% cap · market / base-case scenario
Aggressive
$630.2K
NOI $31,509 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $63.0k | $12.12 |
| − Vacancy | −$5.7k | −$1.10 |
| EGI | $57.3k | $11.02 |
| − OpEx | −$25.8k | −$4.96 |
| NOI | $31.5k | $6.06 |
5,200 SF · lease $12.12/SF/yr · vacancy 9.10% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$450.1K
$393.9K – $525.2K
NOI $31,509 @ 7.0% cap · market cap 4.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.34M
$1.17M – $1.56M
NOI $93,808 @ 7.0% cap · market cap 13.42%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- High Point
- County
- Guilford
- State
- North Carolina
- Longitude
- -79.976188
- Latitude
- 35.989083
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Seven-unit apartment building with ample parking and tenant-paid utilities.
Where is this apartment building located?
The property is located at 1500 Deep River Road High Point, NC.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Steady Income: Current gross monthly revenue of $5200 with rents ranging from $700 to $800 per unit.; Low Maintenance: Tenants pay their own utilities, and gutter guards are in place.; Ample Parking: Features ample paved parking for tenants and guests.
