Ed Billings
Photos
About This Property
Looking for an easy to rent, east to manage rental with a great return? Look no further! This student rental is oh so close to the heart of Elon University and leases itself due to a long term relationship with University fraternity. Recent upgrades include LVT flooring in common areas, new roof on the rear portion of the home, HVAC four years old. Fenced yard. Home is well maintained. Crawl space structurally reviewed and repaired. Current tenants leased thru May 31, 2023 at $2,250/mo, the following year's tenants are in place (June 1 2024-May 31 2025) at $2,400/mo. Factoring in all expenses, this year's cap rate of 7.8% and 8.5% for 2024-2025. Management is a breeze with existing property management relationship that bills on an hourly basis.
Property Details
Year Built
1950
Lot Size
0.25 acres
Property Type
Single Family Residence
Heating
Central, Propane
Cooling
Central Air, Gas
Sewer
Public Sewer
Water
Public
Location
Monthly Payment Estimate
$1,310/mo
30-year fixed estimate
Estimate only. Does not include taxes or insurance.
