07/10/2024
Address: 4480 Main Steet, Gibson, NC
Price: $125,000
Size: 4400 sf
Beds: 1
Baths: 5
Zoning: Residential
Average Cost per SF in Gibson: $69
ARV: $370,000-440,000
Estimated cost of renovations (materials): $40,000
This beautiful historic bank sits in the heart of small town America. It had many uses over the past few decades but it's been vacant for several years. There is deferred maintenance with the biggest issue being the flat roof. However, it's still in great shape considering the length of its vacancy. It has an open concept and was going to be converted into a home but the plans were never fulfilled. The zoning has been converted into residential so the new owners can make this into their dream home. A layout of the previous conversion plans are pictured (5 bed, 4 bath). City water and sewer. The vacant lot directly beside the building is included with the purchase. Located 0.5 miles from the Carolina State line. Seller financing is an option with a 20% down payment.
Cash Price: $100,000
Seller Financing Option 1:
Price: $125,000
20% down ($25,000)
Interest rate: 12%
Term length: 7 years
Monthly payments: $1,765.27
Seller Financing Option 2:
Price: $125,000
20% down ($25,000)
Interest rate: 12%
Term length: 30 years
Monthly payments: $1,028.61
