$138,000
●
Land -
Off Market
137 Forest Green Drive
Cary, NC 27511
Studio
0 Bath
$239,776
RealtyHop Estimate
59.85%
Since Aug 1, 2017
National-US
Primary Model
About This Property
Amazing opportunity to build your dream or spec home on half an
acre in prime downtown Cary location. This area is exploding with
beautiful new homes in the $500K+ range. Walk to restaurants,
festivals, movies, antiquing, shopping, concerts, library, art
museum. Largely cleared with five producing pecan trees. HO HOA.
Fire hydrant one lot over.
Unit Size
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Days on Market
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Land Size
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Price per sqft
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Property Type
Land
Property Taxes
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HOA Dues
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Year Built
2018
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Cap Rate
100% Occupancy
N/A (extreme outlier) What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Last updated: 2 years ago (TMLS #2132469)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jul 11, 2017 | Sold | ||
| Sold | |||
| Jun 6, 2017 | Listed by Choice Residential Real Estate | $150,000 | |
| Listed by Choice Residential Real Estate | |||
| Jun 3, 2016 | Sold | ||
| Sold | |||
| Mar 17, 2016 | Listed by Inhabit Real Estate | $125,000 | |
| Listed by Inhabit Real Estate | |||
| | |||
|
Rare opportunity to build or invest in the Heart of Cary. Half Acre level lot behind established Meadowmont. Walk or bike to Academy St. for festivals like Lazy Daze, free concerts, shopping, Cary library, and Cary Art Center. New Park planned as part of revitalization nearby. Easy access to 40/Wade Ave/US 1 & 64. Close to Trader Joes, Harris Teeter and planned Wegmans. Largely cleared with five producing pecan trees. No Homeowners Association! Gas, water and sewer available. Fire hydrant one lot over.
| |||
Property Highlights
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
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About Cary
Similar Homes for Sale
Currently no similar homes aroundNearby Rentals
Listed by: Cathleen O'Hannigan, Choice Residential Real Estate
Last Updated: 2 years ago
Data Source: TMLS, MLS# 2132469
Last Updated: 2 years ago
Data Source: TMLS, MLS# 2132469
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