3242 Rabbit Ridge Rd Morganton, NC 28655

2 beds · 2 baths · 1,000 sq ft · Lot Size: 23,087 sq ft · Single Family Home
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3242 Rabbit Ridge Rd is in the 28655 neighborhood of Morganton, NC. It is located in Burke County and ZIP code 28655. This Single Family Home was built in 2003 and is approximately 22 years old. The single family home spans 1000 sq ft with 2 bedrooms and 2 bathrooms and sits on a 23087 sq ft lot. According to public records, it was last sold in 2022 for $168,000. Analyze and compare real estate investment strategies for properties like this home at 3242 Rabbit Ridge Rd Morganton, NC 28655 with Property Intel by Whitepages.

Investment Potential for 3242 Rabbit Ridge Rd

The property has a current estimated value of $138,094, which is 13% below the zip median, based on public records. It last sold on November 09, 2022 for $168K. Projected long-term
is $18,600 annually ($1,550 per month) with a 86% occupancy rate.

Long-Term

Gross Rental
$18,600 per year($1,550 per month)
Net Operating Income
Cap Rate
Occupancy Rate
86%in 28655 zip code
 
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Owners & Occupancy for 3242 Rabbit Ridge Rd

This property is owned by Haley K Balles. Owner contact information includes 2 phone numbers and 2 email addresses.

Property Owners

Residence*************
Landline(814) 447-3287+ 1 more
Distance from Property**********
Email Address********@innernet.net

Property Ownership Information

Purchase DateNovember 09, 2022
Property Tax Amount$573 in 2024
Purchase Price$168,000

Occupancy

Current Occupancy*****View Occupancy
Resident 1************** age 60

Property Details for 3242 Rabbit Ridge Rd

Property Details

Property Sq Ft

Living Area

1,000 sq ft

Compare to 28655

Lot Size

23,087 sq ft

Compare to 28655

Price Per Sq Ft

Living Area

$138 / sq ft

Compare to 28655

Lot Size Area

$6 / sq ft

Compare to 28655
Property condition, age, exterior, etc. for 3242 Rabbi…
Longitude: -81.818105 Latitude: 35.715366 Parcel Number (APN): 55938…
Mortgage originated on through lender: UNKNOWN for$******View Mortgage Details
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Market Benchmarks

Compare data for 3242 Rabbit Ridge Rd in Burke County to the median in the zip code area and surrounding markets, where available.
View zip code benchmarks
Property
State
Difference
$138,094
$198,670
-$60,576 (-30%)
$293,290
-$72,251 (-25%)
YoY Price Change
2.49%
-409%
Year Built
2003
1962
41 years
Living Space
1,000 sq ft
1,100 sq ft
-100 (-9%)
$ Per Living Sq Ft
$138
$166
-$28 (-17%)
Lot Size
23,087 sq ft
16,553 sq ft
6534 (39%)
$ Per Lot Sq Ft
$6
$17
-$11 (-64%)

Net Operating Income
$15,697
-$1,173 (-7%)
Annual Revenue
$18,600
$19,800
-$1,200 (-6%)
$4,218
-$142 (-3%)
Net Operating Income
$15,697
-$1,173 (-7%)
Cap Rate
7.57%
Home Value Comparison: Property vs. Local and Regional 2-Bed Single Family Home Medians