Contract for sale, NON-REFUNDABLE deposit due on signing.

**Buyers are responsible for their own due diligence & closing costs**

Price: $99,500

(The starting price is the lowest minimum acceptable offer, will be taking the highest & best)

FLIP ARV: $204,500

+ Free Commercial Lot (with subdivide)

👉 (336) 901-7216 👈

This property sits on a large private 1.8 Acre lot that offers multiple profitable opportunities. The lot can be subdivided, allowing you to renovate and flip the house on one parcel while retaining the other parcel for future use. Additionally, since the land is zoned C1 for commercial use, there’s potential to develop or lease the remaining lot for commercial purposes. This strategy enables you to profit from the flip and potentially keep the subdivided land "for free," maximizing your return on investment through both residential and commercial avenues.

Comps:

• Sold for 165k (as is )
• https://www.realtor.com/realestateandhomes-detail/810-S-Iredell-Ave_Spencer_NC_28159_M59982-37274
• Sold for 205k flipped
• https://www.realtor.com/realestateandhomes-detail/208-W-11th-St_Salisbury_NC_28144_M58570-26130
• Active Comp - bought for 92k - listed for 219k
• https://www.zillow.com/homedetails/814-N-Salisbury-Ave-Spencer-NC-28159/126399594_zpid/
• Sold flip for 238k - bought for 50k
• https://www.realtor.com/realestateandhomes-detail/510-Andrews-St_Salisbury_NC_28144_M52859-98504

Highlights:

• Subfloor damage in bathroom, & roof is rough. Deck needs rebuilt. Windows are vinyl. On a septic tank but county water. 
• 1.8 Acres
• Zoned: C1 Commmercial 
• 🔨Rehab Level: Heavy
• 🛌🛁2 Bed 1Bath - 1,164 SQFT (Potential to create additional bedroom & bath)
• 🏠 Roof:  OLD needs replacement, water leaking through the roof
• ❄  HVAC: NO a/c
• 🔥 Furnace: OLD gas heat. Needs new system
• ⚡ Electric: As is, works when power is on. 
• 🚿 Plumbing: UNK
• 🧼 Kitchen (cabinets, countertops, appliances): OUTDATED, needs erplacing most likely
• 🧰 Floors: HARDWOODS
• 🧱 Structure:  NEEDS repairs to the roof structure
• 💧 City Water & Septic
• Water main across the street

Contact Info:

• The property may be occupied, so please schedule a showing.
• To inquire about a showing or an offer call or text us at 👉 (336) 901-7216 👈

The seller of this property either owns or has an equitable contractual interest in the properties marketed. Buyer pays all closing costs. Prices are based on an expeditious closing projected at 7 days or less. All properties are sold in as-is condition. Seller makes no warranty of any kind, expressed or implied.