802 Water St Lumberton, NC 28358
- Apartment buildings
- 1,411 SF
- 0.50 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 802 Water St
- Lot size
- 0.50 lot acres
- Property size
- 1,411 SF
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents a well-maintained duplex located at 802 N Water St, Lumberton, NC 28358. The property boasts a desirable location near downtown Lumberton and offers a compelling combination of strong financial performance and attractive features. This one-story, 1,411 square foot building sits on a half-acre lot and comprises two units, each featuring two bedrooms and one bathroom. Currently operating at 100% occupancy, the property generates a substantial net operating income (NOI) of $14,525, translating to an attractive 7.20% capitalization rate. The asking price is $200,000. Off-street parking is provided via carports, and each unit benefits from a fenced yard, enhancing tenant privacy and appeal. The property's strong rental history and current below-market rents present a significant opportunity for immediate cash flow and future appreciation. This is an ideal investment for both seasoned and novice investors seeking a stable, high-performing asset in a convenient location. The property is being offered for sale by owner.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lumberton
- County
- Robeson
- State
- North Carolina
- Longitude
- -79.01
- Latitude
- 34.6233
