Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Cleared Homesite in Franklin County Title is generated by Realmo AI

    Reed Road lot 3, Castalia, NC 27816

    View on Map
    Claim this Listing
    New
    For Sale
    $79,900

    LAND - Castalia, NC

    Lot size:
    1.50 Acres
    Added:
    May 28, 2026
    Days on Market:
    7
    Last Refresh:
    Jun 3 at 11:06 pm

    Property Features for Reed Road lot 3

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    AR
    Vegetation
    Grassed, Cleared
    Standard status
    Active
    APN
    053136
    Lot size
    1.50 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    Lot 3 Subdivision of Property for Russell Frank Cable
    Tax Annual Amount
    112

    Utilities

    Sewer type
    Septic Needed
    Water source
    Well Needed

    We can help!

    Listing Contact
    Jacquelyn Spears

    Listing agent Jacquelyn Spears License #272028

    Listing office ERA Live Moore 7701 Six Forks Road, Raleigh, NC

    Listing date May 28, 2026

    MLS# 10170247 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

    • Cleared and graded 1.5‑acre lot ready for building.
    • Suitable soil for septic across the entire lot (soil scientist report available).
    • New survey completed and available.
    • Minimal restrictions to protect property value.
    • Convenient location to Louisburg, Nashville, and Warrenton.
    • Additional adjacent 1.5‑acre lot available.

    Overview

    This 1.5-acre lot of cleared pasture land is located in northeast Franklin County and is ready for a custom country retreat. The property has been recently surveyed, and the soil scientist report indicates suitable soils for septic across the entire lot. Both reports are available for review. Minimal restrictions are in place to protect property value. The location offers peace and privacy of country living, with convenient access to Louisburg, Nashville, and historic Warrenton. An additional 1.5-acre lot is available next door.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Castalia
    County
    Nash
    State
    North Carolina
    Longitude
    -78.058845
    Latitude
    36.142527

    Nearby Similar for Sale

    • $625,000

      45.97 Acres Vacant Land

      Vacant land perfect for residential, recreational, or investment use.
      89 Nash County Line Road, Castalia, NC 27816
      View Details
    • $110,000

      Cleared Land Ready for Development

      5.64-acre tract ideal for homesite or hobby farm.
      Duke Road, Castalia, NC 27816
      View Details
    • $360,000

      23 Acres of Versatile Land

      Land with open fields, woods, and a small creek.
      8501 Edwards Road, Castalia, NC 27816
      View Details
    • $675,000

      Nash County Land For Sale

      69.95 acres of land in Nash County, North Carolina.
      6847 Race Track Road, Castalia, NC 27816
      View Details
    • $79,900

      Cleared Homesite in Franklin County

      1.5 acre cleared homesite ready for building in Castalia, NC.
      Reed Road lot: 4, Castalia, NC 27816
      View Details
    • $79,900

      Cleared Land in Franklin County

      1.5 acres of cleared pasture land ready for building.
      Reed Road lot: 4, Castalia, NC 27816
      View Details
    • $79,900

      Cleared Land in Franklin County

      1.5 acre cleared homesite ready for building in Castalia, NC.
      Reed Road lot: 3, Castalia, NC 27816
      View Details
    • $725,000

      69.95 Acres Ready for Development

      69.95 acres in Nash County, NC, zoned A1 Agricultural.
      6847 Race Track Road, Castalia, NC 27816
      View Details
    • $550,000
      1,548 SF

      20-Acre Functioning Farm with Home

      Farm-ready property with modular home, livestock, and agricultural setup.
      8011 Simmons Road, Castalia, NC 27816
      View Details
    • $74,900

      Land for Residential Development

      Unimproved land suitable for building a home in Castalia, NC.
      0 Nc 56 Highway, Castalia NC 27816, Castalia, NC 27816
      View Details
    • $60,000

      1.04 Acre Lot with House

      1.04 acre lot with house needing evaluation and remodeling.
      691 Nc 58 Hwy, Castalia, NC 27816
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 1.5 acre cleared homesite ready for building in Castalia, NC.
    Where is this residential land & home lot located?
    The property is located at Reed Road lot 3 Castalia, NC.
    What is the asking price?
    The asking price for this property is $79,900.
    What are key features of this property?
    This property features: Cleared and graded 1.5‑acre lot ready for building.; Suitable soil for septic across the entire lot (soil scientist report available).; New survey completed and available.
    (919) 368-5676
    We can help!
    Listing Contact
    Jacquelyn Spears
    Real Estate License ID: 272028
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    Reed Road lot: 3, Castalia, NC 27816
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!