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$244,000

For Sale - Active
5213 Palmetto Ln, Fayetteville, NC 28304
4 Beds
2.0 Baths
1,673 Square Feet
0.28 Acres Lot
Built in 1959
For Sale - Active
Units n/a
Checked: 10 hours ago
Updated: Apr 18, 2025 at 06:48PM

Investment Summary


Monthly Cash Flow
-$191
Cap Rate
4.7%
Cash-on-Cash Return
-4.1%
Debt Coverage Ratio
0.83
Internal Rate of Return (5 years)
0.0%

Property Description


0.28 Acres Lot
Built in 1959
For Sale - Active
Units n/a

This 4-bedroom, 2-bathroom brick ranch offers a perfect blend of comfort and functionality. Inside, the living room features hardwood floors, ceiling fans, and custom-built cabinets. The eat-in kitchen boasts tile flooring, an electric stove with a microwave above and a dishwasher. The primary suite includes a walk-in closet and an en-suite with a tub/shower combo, while three additional bedrooms provide versatility, including one off the kitchen where the hutch and roll-top desk remain. A guest bath with a tub/shower combo, a linen closet, and a laundry room with a washer and dryer included. Outside, enjoy your front porch to meet your neighbors. If you prefer the backyard, enjoy your back patio, a pavilion and a fenced backyard with a shed. Turn this property dream in to your reality!

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Location


Property Details


Parking

  • Details: Concrete, Off Street
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 4

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Partial): 0
  • # of Baths (Total): 2.0

Interior Features

  • # of Rooms: 7
  • # of Stories: 1
  • Basement: Yes
  • Basement Description: Crawl Space
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Brick
  • Roof Type: Gable
  • Roof Material: Shingle

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 0406959210
  • Lot Size: 12197 sqft

Property Information

  • Property Type: Single Family Residence
  • Year Built: 1959

Tax Information

  • Annual Tax: $1,680

Utilities

  • Water & Sewer: Public
  • Heating: Electric, Heat Pump
  • Cooling: Ceiling Fan(s), Central Air

Location

  • County: Cumberland

Listing Details


Listed by:
Ashley Elaine Schaus
Keller Williams Pinehurst
(910) 600-3606

Source:
Hive MLS (North Carolina Regional)
MLS#: 100498334
Hive MLS (North Carolina Regional)

Investment Summary


Monthly Cash Flow
-$191
Cap Rate
4.7%
Cash-on-Cash Return
-4.1%
Debt Coverage Ratio
0.83
Internal Rate of Return (5 years)
0.0%

Purchase Details

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Purchase price:
$244,000
Amount financed:
-$195,200
Down payment:
$48,800
Closing costs:
$7,320
Rehab costs:
$0
Initial cash invested:
$56,120
Square feet:
1,673
Cost per square foot:
$146
Monthly rent per square foot:
$0.96

Financing Details

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Loan amount:
$195,200
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principle & interest:
$1,155
Property tax:
$140
Insurance:
$112
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,407

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,600 $19,200
Vacancy loss: (6%)
6% -$96 -$1,152
Operating income:
$1,504 $18,048

Operating Expenses


% Rent Monthly Yearly
Property taxes: (9%)
9%-$140-$1,680
Insurance: (7%)
7%-$112-$1,344
Property management: (8%)
8%-$128-$1,536
Repairs & maintenance: (5%)
5%-$80-$960
Capital expenditures: (5%)
5%-$80-$960
HOA fees: (0%)
0%$0$0
Total operating expenses: (34%)
34%-$540-$6,480

Cash Flow


Monthly Yearly
Net operating income:
$964 $11,568
Mortgage payments:
-$1,155 -$13,860
Cash flow:
$191 $2,292