2221 Leight St, Winston Salem, NC 27107

Unique Opportunity with Lots of Potential! There are 2 buildings on the property. Each building was separated into 4 units each (total of 8 units). Front building is one level and features 4 units each with bed/bath/kitchen/living space combo. The rear building is 2 stories and also has 4 units with bed/bath/kitchen/living space condo. Lot is pretty level with ample parking space. Home is 2 miles away from an Arts College. Property is currently zoned single family, however the new buyers best potential would be to get the property rezoned back to multifamily. Estimated rents per unit are proposed to be $500/unit. Estimated rehab: $96-120K depending on finishes. Potential ARV: $336,000 (Gross Income x 7 Years). Cap Rate: 14.32% - 12.64% (Estimated). Annual estimated income: $48,000.