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    113 Henderson Dr Ellerbe, NC 28338

    For Sale
    $405,000

    15-Pad Mobile Home Park, 7.43% Cap Rate

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This well-maintained 15-pad mobile home park in Ellerbe, North Carolina, presents a compelling investment opportunity. The property sits on 1.84 acres and includes 10 occupied lots generating a Net Operating Income (NOI) of $29,699, resulting in a 7.43% capitalization rate. The asking price is $405,000. Five vacant lots offer significant upside potential for future development and increased revenue. The park benefits from a direct-billing structure for electricity, with city-provided water and sewer, minimizing operating costs. Located in Richmond County, this property is strategically positioned in a growing market for affordable housing, offering both immediate returns and long-term value appreciation. Ellerbe's proximity to larger regional markets like Rockingham and Fayetteville further enhances its appeal. The stable local economy, coupled with the increasing demand for affordable housing in suburban and rural areas, makes this a strong investment prospect. The existing lot rents provide a predictable cash flow, minimizing vacancy risk and offering a steady income stream. The vacant pads can be developed to increase occupancy and rental income, adding to the overall return on investment. This property offers a blend of immediate income and future growth potential in a desirable North Carolina location.

    Property Features for 113 Henderson Dr

    General Information

    Property type
    Multifamily properties
    Lot Size
    80,150 SF

    HighLights

    • 15‑pad mobile home park on 1.84 acres in Ellerbe, NC, with 10 occupied lots generating $29,699 NOI and a 7.43% cap rate. Asking price: $405,000.
    • Five vacant lots offer significant upside potential for increased revenue.
    • Direct‑billed electricity, city water & sewer minimize operating costs.
    • Strong investment due to high demand for affordable housing in a growing region.
    Property Profile Location Intelligence

    Current Use by Public Records

    Mobile home & RV ...

    Map

    City
    Ellerbe
    County
    Richmond
    State
    North Carolina
    Longitude
    -79.764848
    Latitude
    35.069248

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    Nearby Similar for Sale

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    FAQs

    What type of property is this?
    Multifamily property - 15-Pad Mobile Home Park, 7.43% Cap Rate
    Where is this multifamily property located?
    The property is located at 113 Henderson Dr Ellerbe, NC.
    What is the asking price?
    The asking price for this property is $405,000.
    What are key features of this property?
    This property features: 15-pad mobile home park on 1.84 acres in Ellerbe, NC, with 10 occupied lots generating $29,699 NOI and a 7.43% cap rate. Asking price: $405,000.; Five vacant lots offer significant upside potential for increased revenue.; Direct-billed electricity, city water & sewer minimize operating costs.
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    113 Henderson Dr Ellerbe, NC 28338
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    Ellerbe, NC 28338
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    Realmo Value Estimation

    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.

    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.

    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
    113 Henderson Dr Ellerbe, NC 28338
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