4209 Rosalie Street Winston Salem, NC 27104
$240,000 | 3 Bedrooms | 2 Bathrooms | 5.2% Cap Rate
I'm Interested in this Property
Listing Description
Listing: Awning - Redfin - Zillow
Step into a world of real estate opportunity with this charming 3-bedroom, 2-bath brick ranch in the highly sought-after neighborhood of Winston Salem, NC. This meticulously maintained property, complete with a massive fenced backyard and stunning interior features, offers real estate investors a golden opportunity. With top-tier schools, thriving local market, and substantial rent returns, it is an investment that promises considerable growth potential and high returns on investment. This could be the property that fuels your financial growth in the real estate market.
This property at 4209 Rosalie Street in Winston Salem is a prime investment opportunity, offering a lucrative blend of key factors that real estate investors dream of. Its strategic location, appealing features, strong potential for rent growth, and favorable market conditions make it a standout choice. Moreover, with the guidance of a seasoned agent like Humberto Marquez, your investment journey is assured to be smooth and profitable. Don't miss the chance to diversify your investment portfolio with this gem of a property.
Investment Financials
How much does the home cost?
$240,000
How much will it earn in rent?
$1,700 per month
How much will it cost to renovate?
This home is move-in ready, requiring no renovations. However, a modest budget of $1,500 has been set aside for any small touch-ups you might consider necessary to make this home truly your own.
How much cash can you take home in the first year?
The property shows great potential with an impressive appreciation rate of 4.1% and projected rent growth of 6.3%. Over a 10-year period, it offers a respectable return rate of 18.6% per year. The after-repair value is an alluring $240,000. Although there is a slight negative cash flow in the first year due to initial investment and costs, this is temporary. As the property appreciates and rent increases, your return on investment will improve. By the end of the first year, the net operating income will be $12,545. From the second year onwards, you can expect a progressively increasing positive cash flow. By the 10th year, the annual cash flow will reach a substantial $10,679, significantly boosting your total profit.
What is the cap rate for this property?
The estimated cap rate for this property is 5.2%.
All of the cap rates and returns for this property are estimates and are not intended as a guarantee of income or returns. Every investment has risks. It's important to discuss any investment, returns, regulations, laws and projections with a financial advisor, attorney or another fiduciary.
Why People Rent In Salem, North Carolina
Where is Salem, North Carolina?
Salem, North Carolina does not exist. However, there is a city called Winston-Salem in North Carolina. Winston-Salem is a city in Forsyth County and is located in the central part of the state. It was formed by the merging of the neighboring towns of Winston and Salem in 1913.
What companies are the major employers in and around Salem, North Carolina?
- Wake Forest Baptist Medical Center: A leading healthcare system and medical center that employs a significant number of healthcare professionals, researchers, and support staff.
- Wake Forest University: A private research university known for its academic programs in various fields, including medicine, law, business, and arts.
- HanesBrands: A global apparel company that manufactures and sells well-known brands like Hanes, Champion, Playtex, and more. It has a significant presence in the Winston-Salem area.
- Novant Health: Another major healthcare system with hospitals, medical centers, and physician clinics in the region. They provide employment opportunities for healthcare professionals.
- Reynolds American Inc.: A tobacco company that operates in the area and is a subsidiary of British American Tobacco. It is involved in the production and marketing of various tobacco products.
- BB&T Corporation: A financial services company that has a strong presence in Winston-Salem. BB&T provides banking, insurance, investments, and other financial services.
- Krispy Kreme Doughnuts: The popular doughnut chain has its headquarters in Winston-Salem and operates numerous stores in the area. It offers employment opportunities in various roles, including production, retail, and corporate positions.
What are the demographics of Salem, North Carolina?
As of 2023, Salem, North Carolina has a population of 1,573, growing at a rate of 6.36% annually. The city's population is almost equally divided between females (49.76%) and males (50.24%). The racial composition is predominantly White at 88.44%, with other races accounting for 7.78%, and Native Hawaiian or Pacific Islanders at 3.79%. No populations were reported for Black or African American, Native American, Asian, or two or more races.
The average household income is $54,001, and the city has a poverty rate of 27.84%. The overall poverty rate stands at 33.38%, with males having a poverty rate of 18.21% and females at 30.61%. The city spans an area of 4.3 square miles with a population density of 366.40 people per square mile.
Families in Salem average around 2.06 members, and the average household size is 2.3 people. A large majority (92.94%) of Salem's residents speak only English, while 7.06% of the population speaks other languages, with Spanish being the most common non-English language. Home ownership in Salem is high, at 85.9%.
Marriage is common in Salem, with an overall marriage rate of 41.5%. For the population aged 15 years and over, 20.5% have never been married, 48.5% are currently married, 1.4% are separated, 8.4% are widowed, and 21.1% are divorced. Among those aged 25 years and over, 89.5% have a high school degree or higher, 22.0% have a bachelor's degree or higher, and 8.2% have a graduate or professional degree. The unemployment rate for this group is 3.3%.
In terms of religious beliefs, the most popular religion is Evangelical Protestant, followed by Mainline Protestant, Black Protestant, and Catholic. A significant portion of the population, however, reports having no religious affiliation. Health-wise, the adult diabetes rate in Burke County, where Salem is located, is 10.2%, and the adult obesity rate is 27.5%. The low-income preschool obesity rate stands at 16.7%.
What is the Niche neighborhood grade and school grade in Salem, North Carolina?
The overall Niche grade for the neighborhood of Salem, North Carolina is B+. The public schools in Salem received a grade of A- according to Niche.
What is the property tax rate in Salem, North Carolina?
The property tax rate in Forsyth County, North Carolina, which includes Salem, is 67.78 cents for every $100 of taxable property for the 2022-23 budget year.
How many rental listings and vacancies are in Salem, North Carolina?
The number of rental listings in Salem, North Carolina, as of 2023, is 129 for apartments and 53 for houses. The rental vacancy rate in the same year is 9.9%.
What's the average rent in Salem, North Carolina?
The average rent for a two-bedroom apartment in Salem, North Carolina, as of 2023, is between $712 and $870.
From Listing to Rental
- Place an offer on this property: If you want help finding the best representation, simply submit your information by pressing "I'm Interested in this Property"
- Close on the property: Closing on this property should be simple. An agent will help you review the contract and confirm that everything in the inspection report makes this a good deal.
Hire a property manager to manage your property: If you choose to use Property Management we can help you select the best service and get you a deal on management in the area.
