211 Morehead St Morganton, NC 28655

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4 beds · 2 baths · 1,334 sq ft · Lot Size: 8,276 sq ft · Multi-Family Home (2 - 4 units)
Est. Property Value: $102,567

High Demand Long-Term RentalValued below Market MedianOwned for 5 - 10 YearsOwner Age 25 - 35

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211 Morehead St is in the 28655 neighborhood of Morganton, NC. It is located in Burke County and ZIP code 28655. This Multi-Family Home (2 - 4 units) was built in 1940 and is approximately 85 years old. The multi-family home (2 - 4 units) spans 1334 sq ft with 4 bedrooms and 2 bathrooms and sits on a 8276 sq ft lot. According to public records, it was last sold in 2019 for $96,000 and has a tax-assessed value of $99,806, which is $77 per sq ft. Analyze and compare real estate investment strategies for properties like this home at 211 Morehead St Morganton, NC 28655 with Property Intel by Whitepages.

Investment Potential for 211 Morehead St

The property has a current estimated value of $102,567, which is 42% below the zip median, based on public records. It last sold on October 08, 2019 for $96K. Projected long-term
is $25,800 annually ($2,150 per month) with a 86% occupancy rate.

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Long-Term

Gross Rental
$25,800 per year($2,150 per month)
Net Operating Income
$*****View Net Operating Income
Cap Rate
****%View Cap Rate
Occupancy Rate
86%in 28655 zip code
 
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Owners & Occupancy for 211 Morehead St

This property is owned by Alexander C Kerns. Owner contact information includes .

Property Owners

Residence*************
Landline
Distance from Property**********
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Property Ownership Information

Purchase DateOctober 08, 2019
Property Tax Amount$745 in 2024
Purchase Price$96,000

Occupancy

Current Occupancy*****View Occupancy
Resident 1****************** age 73
Resident 2****************** age 33
Resident 3***************** age 32

Property Details for 211 Morehead St

Property Details

Property Sq Ft

Living Area

1,334 sq ft

26% below market

Lot Size

8,276 sq ft

62% below market

Price Per Sq Ft

Living Area

$77 / sq ft

18% below market

Lot Size Area

$12 / sq ft

45% above market

Property condition, age, exterior, etc. for 211 Morehe…
Longitude: -81.692264 Latitude: 35.752712 Parcel Number (APN): 3046…
Mortgage originated on through lender: Jpmorgan Chase Bk Na for$*****View Mortgage Details

Recommended Properties in 28655

Discover more multi-family homes near 211 Morehead St in Morganton, North Carolina. Get property details like ownership length, owner age, and occupancy status to help you find the best real estate opportunities in this neighborhood.

Market Benchmarks

Compare data for 211 Morehead St in Burke County to the median in the zip code area and surrounding markets, where available.
View zip code benchmarks
Property
State
Difference
$102,567
$239,536
-$136,968 (-57%)
—
—
—
YoY Price Change
—
—
—
Year Built
1940
1974
-34 years
Living Space
1,334 sq ft
1,956 sq ft
-622 (-32%)
$ Per Living Sq Ft
$77
$115
-$38 (-33%)
Lot Size
8,276 sq ft
11,761 sq ft
-3485 (-30%)
$ Per Lot Sq Ft
$12
$17
-$4 (-25%)

Net Operating Income
$*****
$22,037
-$1,201 (-5%)
Annual Revenue
$25,800
$30,000
-$4,200 (-14%)
$****
$7,271
-$2,307 (-32%)
Net Operating Income
$*****
$22,037
-$1,201 (-5%)
Cap Rate
****%
9.31%
—
View Zip code Data
Home Value Comparison: Property vs. Local and Regional 4-Bed Multi-Family Home (2 - 4 units) Medians

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