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    Henderson, NC Rental Portfolio Title is generated by Realmo AI

    623 Marshall Street, Henderson, NC 27536

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    Picture of Single family properties at 623 Marshall Street, Henderson, NC
    For Sale
    $480,000

    LAND - Henderson, NC

    Lot size:
    0.07 Acres
    Added:
    Jan 29, 2026
    Days on Market:
    113
    Last Refresh:
    May 22 at 1:06 am

    Property Features for 623 Marshall Street

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    See Notes
    Vegetation
    Cleared
    Standard status
    Active
    APN
    0091 01010
    Lot size
    0.07 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    623 Marshall St
    Tax Annual Amount
    18

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Charlese Johnson

    Listing agent Charlese Johnson

    Listing office Choice Residential Real Estate 256 W Millbrook Road, Raleigh, NC

    Listing date Jan 29, 2026

    MLS# 10145319 Listing URL

    Copyright © 2026 Doorify MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • High Gross Cap Rate: Approximately 11.3% offers strong potential return on investment.
    • Immediate, Stable Cash Flow: Portfolio provides $4,515/month in gross rental income with long‑term tenants.
    • Rental Portfolio: Includes 7 single‑family rental homes and 1 vacant lot.
    • Low‑Maintenance Floor Plans: Each home features a 1 bed / 1 bath layout.
    • Opportunity to Increase Rents: Potential for higher income through light updates.
    • Package Can Be Divided: Offers flexibility for different investment strategies.

    Overview

    This offering presents an investor opportunity in Henderson, NC, featuring a rental portfolio comprising seven single-family rental homes and one vacant lot located on Marshall Street. The properties are situated at 621, 623 (lot), 631, 646, 647, 648, 650, and 651 Marshall Street. The full portfolio is priced at $480,000. The current gross rental income is $4,515 per month, resulting in a gross cap rate of approximately 11.3%. Each home features a 1 bed / 1 bath layout with low-maintenance floor plans. The properties are located in Vance County, with a zoning designation of 'See Notes'. The vacant lot has a size of 0.07 acres. Most tenants are long-term and willing to stay, providing immediate, stable cash flow. There is an opportunity to increase rents through light updates over time. This portfolio is ideal for investors seeking consistent income and portfolio growth in an established rental market. The package can be divided.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Henderson
    County
    Vance
    State
    North Carolina
    Longitude
    -78.3999616
    Latitude
    36.3188465

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    FAQs

    What type of property is this?
    Single family property - Seven single-family rentals and one vacant lot for sale.
    Where is this single family property located?
    The property is located at 623 Marshall Street Henderson, NC.
    What is the asking price?
    The asking price for this property is $480,000.
    What are key features of this property?
    This property features: High Gross Cap Rate: Approximately 11.3% offers strong potential return on investment.; Immediate, Stable Cash Flow: Portfolio provides $4,515/month in gross rental income with long‑term tenants.; Rental Portfolio: Includes 7 single‑family rental homes and 1 vacant lot.
    (410) 241-8788
    We can help!
    Listing Contact
    Charlese Johnson
    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.

    More about this property
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