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202 Overlook DriveSpruce Pine, NC 28777MLS Number 3473220

  • Price: $1,250,000The price has recently decreased
  • Est. Mortgage of $/month
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Price Down Payment Interest Rate Years

Est. Mortgage: $/month

Federal 30-year interest rate: 3.82% last updated on 2019-06-13

This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.

  • 12000Square Feet
  • 2005Year Built
  • HarrisJunior High
  • MitchellHigh School

Income opportunity attracting professionals w/high efficiency & extremely well maintained (like-new), 3 bldg./12-unit homes in prime rental corridor next to hospital & ECU School of Dentistry. Located in one of the most desirable neighborhoods, Eleven 2BD/2BA w/Master suite, two 3BD/2BA, high ceilings, front & rear porch, ramp accessibility on 1st floor & perfect floor plans. 27 pk. spaces, room for equip. bldg./office. 100% occupancy at all times! Current CAP = 8% (T-12= 7%). Excellent upside (CAP= 10%) potential/value-add opportunity for increased rents/NOI, w/no capital expenditures or updates needed (current rents= $200+ below market rate). Strong demographics & high quality employment opportunities. Rising rental pressure in growing town. Next to schools, shopping & employment- 5 min. to all major employers. Additional 4.15 acres on same street = further development w/water & sewer tap already purchased ($78,000; MLS#: 3451543).20 min.- I-40, 50 min.- Asheville, 2hr.- Charlotte.

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Basic Information

  • StatusACT
  • ListingTypeExclusive Right
  • Property TypeMulti-Family
  • Property Sub TypeApartments
  • List Price$1,250,000
  • Broker NameFoxfire Real Estate, LLC
  • ListingBoardIDLand of The Sky Association of Realtors
  • MLS Number3473220


  • HeatingCentral Air
  • WaterCity Water
  • SewerCity Sewer


  • VOWAddrYN1
  • VOWYN1
  • Modification Date05/31/2019
  • View Count59


  • Building Number202
  • StreetOverlook
  • TownSpruce Pine
  • StateNC
  • Zip28777
  • CountyMitchell
  • DirectionsFrom downtown Spruce Pine take US Hwy. 19-E to Altapass Road then left onto Broad Street, and then right onto Overlook Drive. Property will be on the right. Spruce Pine is the largest small town between Asheville & Boone. Centered between the 3 most famo
  • Elementary SchoolGreenlee Primary
  • Junior HighHarris
  • High SchoolMitchell


  • Year Built2005
  • ConstructionTypeSite Built
  • NumberOfUnitsTotal12
  • Square Feet12000


  • DriveAsphalt
  • Lot Description
    • City View
    • Green Area
    • Level
    • Long Range View
    • Mountain View
    • Open/Cleared
    • Paved Frontage
    • Sloping
    • Views
    • Year Round View


  • Number of Photos19
  • DatePhoto2019-05-31T11:32:18

Your Local Office

WNC Mountain Realty
23 Songbird Lane
Weaverville NC, 28787

Office: 828-231-3117

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