Property Description:
Description:
605 Hammond St, Rocky Mount, NC 27804
Discover an exceptional investment opportunity in the heart of Rocky Mount's Historic Villa District. This meticulously renovated quadplex seamlessly blends historic charm with modern conveniences, offering a compelling addition to any investment portfolio.
Property Highlights:
Extensive Renovations (2022-2024):
Every unit has been thoughtfully updated with a new kitchens, bathrooms, brand-new electrical system, modern plumbing, efficient electrical baseboard heating, enhanced attic insulation, new ceilings and walls, and contemporary bathrooms featuring new toilets and vanities.
Diverse Unit Layouts:
The property comprises two spacious 2-bedroom, 1-bath units and two comfortable 1-bedroom, 1-bath units, catering to a wide range of tenant preferences.
Immediate Income Potential:
With two units currently occupied, the property provides immediate rental income, while the two vacant units offer additional revenue opportunities upon leasing.
Modern Amenities:
Each unit is equipped with a reliable stove and refrigerator, ensuring tenant satisfaction and ease of management.
Laundry Convenience:
Unit 1 features washer and dryer connections, adding to tenant appeal.
Reliable Utilities:
Serviced by the City of Rocky Mount, tenants benefit from dependable utility services.
Efficient Heating:
The property utilizes modern baseboard heating systems; please note, there is no central air conditioning.
Section 8 Optional:
The property's eligibility for Section 8 housing opens avenues for stable, government-backed rental income.
Included Lawn Maintenance:
Professional lawn care is provided, enhancing curb appeal and reducing tenant responsibilities.
Professional Property Management:
Benefit from the expertise of Thorne Realty, Inc., a distinguished firm with over 40 years of experience in property management.heir comprehensive services encompass marketing, tenant screening, rent collection, maintenance, accounting, and eviction protection, ensuring your investment is managed with the utmost professionalism.
Financial Overview:
Potential Rental Income:
Fully occupied, the property is poised to generate a monthly rental income of $3,000.
Attractive Pricing:
Listed at $250,000, this offering aligns favorably with the 1% rule, underscoring its strong investment potential.
Investment Potential:
Rocky Mount's housing market has demonstrated resilience, with the median home value experiencing a 2.9% increase over the past year. The property's prime location in the Historic Villa District enhances its appeal, attracting tenants seeking a harmonious blend of historic character and modern living. Investing in Section 8 housing offers the advantage of stable and guaranteed monthly rental income, as the government subsidizes a significant portion of the tenant's rent and utility bills. This fully renovated quadplex, coupled with professional property management, presents a compelling opportunity for investors aiming to secure a reliable income stream in a thriving market.
Seize this opportunity to invest in a turnkey property that combines modern upgrades, historic charm, and professional management, all at an attractive price point.