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Property profile & analytics
OFF-MARKET
Land

220 Willis Rd Cove City, NC 28523

12.56 ac lot
Property ID
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
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
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Owner & transaction history
Owner on record
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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