Available For Purchase
629 Tuckaseegee Rd. Mt. Holly, NC 28120
FANTASTIC LOCATION!!! Only 1/2 mile from the Tailrace Marina and all of the new construction that has been built there. Only 1 mile from the YMCA and only 1.5 miles away from the Belmont exit off I-85 (exit 27). Located right on the intersection of Beatty Dr. and Tuckaseegee Rd., this property is prime for future development! Across the street, a large gas station was built recently on 0.76 acres of land; tax value of that land is now nearly $200,000!! Property is 3/4 mile from Catawba Heights Elementary and Tuckaseegee Park, and only half a mile from the Catawba River Corridor/Greenway. The White Water Center is directly across the river.
CLICK HERE FOR SCOPE OF WORK/REHAB ESTIMATE – 629 Tuckaseegee Scope of Work
After rehab, this house would rent for $1,100 – $1,200. ARV is tough to calculate given the location and potential value of the land. On the low end, the home is worth about $150,000. Given the potential value of the land, this home could be worth as high as $200,000. Our conservative and realistic estimate of Market Value after rehab is $165,000.
CLICK HERE FOR A CAP RATE EVALUATION – 629 Tuckaseegee CAP Rate Evaluation
We estimate roughly $35k in rehab if you were to hold this property as a rental, or $55k in rehab if you were to fix and flip. See the link above for a detailed Scope of Work.
The city is currently in the process of repaving the road, installing sidewalks and crosswalks, and widening the 1.3 mile stretch of road that starts just past the house. Estimated completion date of the construction is 2019-2020.
Info on Construction:
Tenants of 8+ years convey with the property. With sufficient deposit, we may be able to arrange for them to move out before closing. Tenants are month to month and only paying $725/month.
PROPERTY SHOWN BY APPOINTMENT ONLY!! DO NOT DISTURB THE TENANTS!!