07/08/2026
π‘ **Assignment Under Contract β Buy & Hold Investment Opportunity**
π **508 W Cypress St, Elizabeth City, NC 27909**
Looking for your next investment property? This **4-bedroom, 1.5-bathroom** home offers **1,456 sq. ft.** of living space and presents an excellent opportunity for investors seeking a buy-and-hold rental or value-add renovation project.
Built in **1910** on an approximately **5,009 sq. ft. lot**, this property features a spacious layout with strong long-term investment potential. Conveniently located near shopping, schools, dining, and everyday amenities, it's well-positioned to attract future tenants or owner-occupants.
π **For Home Buyers**
π² **$89,500**
β
4 Bedrooms | 1.5 Bathrooms
π° **Approximately $71K Equity Day One**
π‘ **FHA 203(k) Eligible** β Finance the purchase and renovation together. Stop renting and start building equity!
ποΈ **For Investors**
π **Estimated 25% Cash-on-Cash Return**
π΅ **Projected Cash Flow: $681/Month**
πΊπΈ Located approximately **2 miles from the Coast Guard Air Station**, making it an excellent option for serving the military tenant market with strong long-term rental demand.
Whether you're looking to renovate, expand your rental portfolio, or capitalize on future appreciation, this property offers outstanding upside potential.
πΈ **View photos and full property details:**
https://buyhomesasis.com/508-w-cypress-st-elizabeth-city-nc-27909/
π **Submit Your Offer:**
https://cshbuys.com/widget/form/k3VErvp8bwqwoN55ZqFD?notrack=true
π **Questions? Call us at (205) 990-2836**
β οΈ **Assignment of Contract.** Buyer to perform their own due diligence regarding the property's condition, repairs, zoning, square footage, rental projections, financing eligibility, and permitted uses.