46 Harrell Place
About This Property
The kind of work that starts with heavy-duty cleaning, continues with a contractor, and probably includes a few trips to the hardware store where everyone knows your first name.
But here's the thing... Opportunities like this don't come around very often in Tryon.
Tucked along a peaceful creek and just a short walk to downtown, this cottage may be less than 500 square feet, but its potential stretches far beyond its footprint. Whether you envision a cozy weekend getaway, an artist's retreat, a long-term rental, or simply enjoy bringing forgotten homes back to life, this property offers the chance to create something truly special.
The home features one bedroom, one bathroom, a metal roof, an outbuilding, and a covered carport. The rear deck is unsafe and should not be accessed, but the sound of the creek and the setting alone are enough to remind you why this little property deserves a second look.
No, this isn't a weekend makeover. No, it isn't move-in ready. And no amount of throw pillows is going to solve this one. But at $115,000, you're not buying perfection. You're buying one of the few remaining opportunities to own property within walking distance of downtown Tryon, complete with creek frontage and the chance to create something uniquely your own. Every great cottage has an origin story. This one is simply waiting for an unforgettable second chapter. Some buyers will see a mess. The right buyer will see a blank canvas, hear the creek, picture evenings on a brand-new porch, and recognize an opportunity that's becoming harder and harder to find. Could that buyer be you?
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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 |
|---|---|---|---|
| Jul 19, 2026 | In contract | - | |
| In contract | |||
| Jul 9, 2026 | Listed by Tryon Foothills Realty | $115,000 | |
| Listed by Tryon Foothills Realty | |||
| Feb 8, 2008 | Sold | ||
| Sold | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017