215 Charles Avenue
About This Property
The property is naturally wooded from front to rear, offering a private, tucked-away feel while keeping you close to parks, restaurants, breweries, shops, trails, and the Blue Ridge foothills. A preliminary soil evaluation has been completed with favorable results across all five test borings for a residential septic system, with final permitting required. MID zoning within the Morganton ETJ permits single-family residential use and may allow two-family or multifamily possibilities, subject to approval. No HOA or POA, not shown in a FEMA flood zone, and paved road access in place. Buyer to verify all due diligence. Reach out for details!
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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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Aug 20, 2026 | Sold | ||
| Sold | |||
| Aug 4, 2026 | In contract | - | |
| In contract | |||
| Jul 31, 2026 | Price Decreased |
$47,500
↓ $2K
(4.4%) | |
| Price Decreased | |||
| Jul 10, 2026 | Listed by Chosen Realty of NC LLC | $49,700 | |
| Listed by Chosen Realty of NC LLC | |||
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Last Updated: 2 months ago
Data Source: CANOPYMLS, MLS# CAR4402662
All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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