104 Summers Drive Elon, NC 27244
Looking for an easy to rent, east to manage rental with a great return? Look no further! This student rental is oh so close to the heart of Elon University and leases itself due to a long term relationship with University fraternity. Recent upgrades include LVT flooring in common areas, new roof on the rear portion of the home, HVAC four years old. Fenced yard. Home is well maintained. Crawl space structurally reviewed and repaired. Current tenants leased thru May 31, 2023 at $2, 250/mo, the following year's tenants are in place (June 1 2024-May 31 2025) at $2, 400/mo. Factoring in all expenses, this year's cap rate of 7.8% and 8.5% for 2024-2025. Management is a breeze with existing property management relationship that bills on an hourly basis.
- Property TypeSingle Family Home
- NeighborhoodBoone Station
- CountyAlamance
- Taxes$1,398
- HOA/Condo/Coop Fees$0
- Days on Site16 Days
- MLS StatusActive
- MLS ID Number10027072
- Home Size Source N/A
- Year Built1950
- Lot Size0.25 Acres
- Full Baths1
- Partial BathsN/A
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General Features
- Style Ranch
- Construction Vinyl Siding
- Parking Gravel
- Sewer Public Sewer
- Number of Stories 11
- Acreage 0.25
- Water Public
- Property Sub Type Single Family Residence
- Attached Garage No
- Utilities Cable AvailableSewer ConnectedWater Connected
- Foundation Block
- Listing Conditions Standard
Interior Features
- Cooling Central AirGas
- Heating CentralPropane
- Appliances DishwasherElectric OvenRangeRefrigeratorWasher/ DryerWater Heater
- Flooring CarpetLaminate
Exterior Features
- Roof Shingle
- Fencing Wood
- Waterfront Property No
- Road Frontage City Street