SOUTHERN PINES DEEP VALUE-ADD | 2 PARCELS | HOUSE + ADJACENT VACANT LOT | NO HOA

Address: 1011 W New York Ave, Southern Pines, NC 28387

Asking Price: $155,000 + Closing Costs

Estimated After Repair Value: $310,000

Key Details

• Beds / Baths: 3 Bed / 2 Bath
• Living Area: 1,500 sqft
• Property Type: Single Family Residence
• Year Built: 1912
• HOA: None
• Furnished: No
• Pool: No
• Multi-Unit: No
• Condition: Major Renovation Needed
• Sale Condition: AS-IS
• Number of Parcels Included: 2
• Total Land: Approx. 0.355 Acre

Pricing Details

• Asking Price: $155,000 + Closing Costs
• Estimated ARV: $310,000
• Gross Spread to ARV: $310,000

Parcels Included

• Parcel 1: Existing House on Approx. 0.225 Acre
• Parcel 2: Adjacent Vacant Lot of Approx. 0.13 Acre
• Combined Land: Approx. 0.355 Acre
• Both parcels are included in the total purchase
• Major Renovation Needed
• Property Sold AS-IS
• Seller Will Not Make Repairs
• Existing House Requires Renovation
• Adjacent Vacant Parcel Included

Rental Potential

• Estimated LTR: $1,705 / Month
• Estimated STR: $3,066 / Month

Exit Strategies

• Renovate & Resell Existing House
• Renovate & Hold as a Rental
• Retain Adjacent Lot for Additional Land
• Resell Adjacent Vacant Parcel Separately
• Explore New Construction on Adjacent Parcel
• House + Additional Lot Investment Opportunity

Investment Highlights

• 2 Separate Parcels Included
• Existing 3 Bed / 2 Bath Home
• 1,500 sqft
• Approx. 0.355 Acre Combined
• No HOA
• Major Value-Add Opportunity
• Multiple Potential Exit Strategies
• Adjacent Vacant Lot Included
• Property Delivered AS-IS
• Mike Graham
• NexKey Collective