Off-Market Deal in Rougemont, NC
- Status
- Available
- Asking price
- $109,000
- Est. ARV
- $230,000
- Est. repairs
- ~$55,000
- Beds / baths
- 3 bd / 2 ba
- Sqft
- 1,352
- Year built
- 1993
- Lot size
- 1 acre
This is a 3-bedroom, 2-bathroom mobile home in Rougemont, NC, about 1,352 square feet, built in 1993.
About this deal
Cosmetic medium level rehab in Rougemont only 30 minutes north of Durham!
Well and Septic
Home needs full cosmetic overhaul, including replacing the cheap low end finishes in the kitchen, baths, floors, drywall, lights, doors, paint. Roof and HVAC are working but are budgeted for replacement! The foundation wall has some cinderblocks with cracks we have been told that is it non-bearing or structural so should be an easy fix.
Rougemont offers a rare combination of affordability, acreage, and proximity to the Triangle. As Durham and Wake counties continue to expand, buyers seeking more land and lower housing costs are pushing demand outward. That creates opportunities for value-add renovations, land plays, and affordable housing investments.
Pros:
Comps: Renovated comps all over Rougemont selling in average 7 days on market! This can likely sell well over mid 250-280k. All comps are within 1.5 miles since it's rural and every property is on an acre
Area:
Minutes away from Oxford and Durham without the heavy pricing pressure found there!
Purchase Price: Under 125k for a almost 1400 sqft manufactured home!
Rental: Market rent is around $1500-1600/month which with a 25k rental rehab will yield a double digit cap rate return with almost 80k in equity!
Objections:
Rural: Yes that's what you are getting is the benefit of being out the way but close enough to the triangle that you don't have to pay the triangle premium! The Triangle Spillover is the demand coming from in the triangle and spilling outside to cities like Oxford and Rougemont
Full address and seller contact are free for members.
View this deal on REI Off Market
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