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    High Point Multifamily Investment Property Title is generated by Realmo AI

    1500 Deep River Road, High Point, NC 27265

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    Claim this Listing
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    For Sale
    $699,000

    MULTI_FAMILY - High Point, NC

    Type:Apartment
    Property size:
    5,200 SF
    Lot size:
    1.10 Acres
    Price / SF:
    $134/SF
    Added:
    May 15, 2026
    Days on Market:
    1
    Last Refresh:
    May 15 at 2:06 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

    We can help!

    Listing Contact
    Marshall Morgan

    Listing agent Marshall Morgan License #206974

    Listing office Keller Williams Realty High Point, NC

    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.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy Big Box & Wholesale Store

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

    Location Insight

    • Map
    • Local Demand
    City
    High Point
    County
    Guilford
    State
    North Carolina
    Longitude
    -79.976188
    Latitude
    35.989083

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    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.
    (336) 906-1314
    We can help!
    Listing Contact
    Marshall Morgan
    Real Estate License ID: 206974
    Learn More
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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.

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