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1314 Franklin Ave 7 Unit Dormitory $426,504 CAD ($60,929 CAD/Unit) 15.10% Cap Rate High Point, NC 27260
Investment Highlights
- laundry on site
- private parking in back of the home
Executive Summary
This is a cash flowing rooming house with 6 active leases and one recently vacated room after 2 year leasing period. Untapped potential for this property and little needed repairs. Don't let this get away from you. No single family loans will be considered. Cash buyers and hard money lenders only. No creative financing. Leases made available after contract acceptance. $45,000 towards closing costs! If that doesn't motivate you, nothing will! And a $5000 buyer agent bonus!
Financial Summary (Pro Forma - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$69,341
|
$42.44
|
| Other Income |
$8,420
|
$5.15
|
| Vacancy Loss |
$3,467
|
$2.12
|
| Effective Gross Income |
$74,294
|
$45.47
|
| Taxes |
$3,467
|
$2.12
|
| Operating Expenses |
$8,255
|
$5.05
|
| Total Expenses |
$11,722
|
$7.17
|
| Net Operating Income |
$62,572
|
$38.29
|
Financial Summary (Pro Forma - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $69,341 |
| Annual Per SF | $42.44 |
| Other Income (CAD) | |
|---|---|
| Annual | $8,420 |
| Annual Per SF | $5.15 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $3,467 |
| Annual Per SF | $2.12 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $74,294 |
| Annual Per SF | $45.47 |
| Taxes (CAD) | |
|---|---|
| Annual | $3,467 |
| Annual Per SF | $2.12 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $8,255 |
| Annual Per SF | $5.05 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $11,722 |
| Annual Per SF | $7.17 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $62,572 |
| Annual Per SF | $38.29 |
Property Facts
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Washer/Dryer
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Wi-Fi
- Handrails
- Porch
- Vinyl Flooring
Site Amenities
- 24 Hour Access
- Fenced Lot
- Community-Wide WiFi
- Individual Locking Bedrooms
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 7 | $963.07 CAD | - |
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 0174706 | Total Assessment | $187,149 CAD |
| Land Assessment | $10,936 CAD | Annual Taxes | $3,467 CAD ($2.12 CAD/SF) |
| Improvements Assessment | $176,213 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
0174706
Land Assessment
$10,936 CAD
Improvements Assessment
$176,213 CAD
Total Assessment
$187,149 CAD
Annual Taxes
$3,467 CAD ($2.12 CAD/SF)
Tax Year
2025
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1314 Franklin Ave
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