Property profile

220 Willis Rd Cove City, NC 28523

OFF-MARKET
Land
12.56 ac lot
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Property summary

AI-generated overview

This exceptional 12.56-acre parcel in Cove City, North Carolina, presents a unique opportunity for multi-family development. Located at 220 Willis Rd, Craven County, zip code 28523 (APN: 303629001/3036008), this unrestricted land boasts over 430 feet of road frontage. The property is partially cleared and ready for construction. A significant advantage is the presence of an existing four-bedroom septic system, fully inspected and permitted, with a water meter already installed at the road. A second four-bedroom septic permit is also on file, situated mid-property, allowing for another residence or a large outbuilding. Electricity is provided by Jones Onslow EMC. The seller is offering owner financing. This combined tract (Tracts 2 and 3) has been resurveyed. While no soil evaluation has been conducted, the existing septic system on Tract 2 could potentially serve a home on Tract 3 via a bore under Willis Road. The property's assessed value is $50,780, with annual taxes totaling $284. The property was listed on July 2nd, 2024. Acceptable payment methods include cash and conventional financing. This is a remarkable opportunity to build your dream home and potentially another residence or other structure on this expansive lot.

Property profile

Verified
Property type Land
Lot 12.56 ac (547,114 SF)

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

220 Willis Rd Cove City, NC 28523
Cove City metro
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Value estimations

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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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