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    2153 Martins Creek Rd Murphy, NC 28906

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    2153 Martins Creek Rd Murphy, NC 28906

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    • Residential income homes
    • 6.75 lot acres
    Off-Market
    Property ID
    US53-4352191
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Residential income homes

    Property Details for 2153 Martins Creek Rd

    Lot size
    6.75 lot acres
    Property type
    Residential income homes

    Description

    This exceptional 6.75-acre property in Murphy, NC, presents a unique investment opportunity. The portfolio includes two charming cabins (315 and 395 sq ft respectively, each with a bedroom, bathroom, and kitchenette, and on a shared lift septic system), a 1,768 sq ft main home (built 2016) featuring 2 bedrooms, 2 baths, a full finished lower level with an additional kitchen and bedroom, and two covered decks overlooking a year-round creek, and a 1,050 sq ft manufactured home (built 2003) with 2 bedrooms and 2 baths, a wood-burning fireplace, and a new roof (2009). A substantial 882 sq ft garage/workshop provides ample space for various uses. The property boasts approximately 4 acres of pasture, a private well, and no zoning restrictions. All appliances are included in the main home and manufactured home. Furnishings are negotiable, excluding the fireplace in the main home's lower level. This secluded retreat offers both comfortable living and significant rental income potential. The property is located at 2153 Martins Creek Rd, Murphy, NC 28906. The main home and manufactured home are situated on separate parcels. An Orkin termite bond is in place.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Murphy
    County
    Cherokee
    State
    North Carolina
    Longitude
    -84.0221331
    Latitude
    35.053764

    Comparable in this City

    • $709,000
      3,600 SF

      Profitable Restaurant with Luxury Loft

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      Versatile Property on Hwy 64 West

      Accessible property suitable for residence, business, or investment.
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      Unrestricted Land with RV Sites

      Land with 11 RV sites, utilities, and expansion potential.
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      Charming Tiny Home in Murphy, NC

      One bedroom, one bath tiny home on private lot.
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      Residential Land in Murphy, NC

      Mobile home lots available in Acorn Hollow subdivision.
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    • $40,000

      Land in Mountain Subdivision

      Land with mountain views, water and power available near downtown.
      000 Mistletoe Rdg, Murphy, NC 28906
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    Similar Nearby for Sale

    • $709,000
      3,600 SF

      Profitable Restaurant with Luxury Loft

      Turn-key restaurant with income-producing luxury loft in downtown Murphy, NC.
      89 Tennessee St, Murphy, NC 28906
      View Details
    • $249,900

      Versatile Property on Hwy 64 West

      Accessible property suitable for residence, business, or investment.
      5380 W Us Highway 64, Murphy, NC 28906
      View Details
    • New
      $499,000

      Unrestricted Land with RV Sites

      Land with 11 RV sites, utilities, and expansion potential.
      90 Sandy Gap Rd, Murphy, NC 28906
      View Details
    • $188,600
      0.08 Acres

      Charming Tiny Home in Murphy, NC

      One bedroom, one bath tiny home on private lot.
      300 Linda Ln, Murphy, NC 28906
      View Details
    • Contact for pricing

      Residential Land in Murphy, NC

      Mobile home lots available in Acorn Hollow subdivision.
      18 Ivy Log Rd, Murphy, NC 28906
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    • $40,000

      Land in Mountain Subdivision

      Land with mountain views, water and power available near downtown.
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    Similar Nearby for Lease

    • Contact for pricing

      Premier Shopping Center Space Available

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      2,140 SF

      Retail Space Near Walmart

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    Murphy, NC 28906
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    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
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    2153 Martins Creek Rd, Murphy, NC, 28906

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