June 29, 2015

Investment Property with High Potential in Salisbury NC!


This is a great time to get your hands on some investment property in Salisbury NC!  There is suddenly several wonderful 'fixer-upper' properties in Salisbury with GREAT potential!  If you are handy, love the concept of restoration and revitalization, and have a little spending money...now is the time to jump on one or more of these great houses!



This bank owned home at 127 CALDWELL STREET SOUTH in Salisbury, NC 28144 is the perfect example of one of these homes!

Located in a stable neighborhood with lots of other historic homes as neighbors, this circa 1900 2-bedroom/1-bath bungalow has GREAT bones and loads and loads of potential!

There are three fireplaces, however none are in working order at this time.

The kitchen is nicely updated.  You'll be surprised at the nice large rooms in this 1300+ square foot home.  And of course, it just wouldn't be Southern living without a wonderful front porch!

127 Caldwell Street sits on an elevated treed lot with a granite retaining wall at the front lawn.  

Caldwell Street is on the edge of the prestigious West Square Historic District in downtown Salisbury...close to shopping, restaurants, the public library, museums, galleries, and night-life.

This darling home is a bank-owned property and is being sold 'As-Is', so don't hope for any advance repairs to be made.  But this is where YOU come in!  For just $24,500 - scoop us this solid little house and exercise the great potential to be had here!  Call Greg Rapp at Wallace Realty, 704-213-6846, to learn more!








Twenty-five thousand beans not quite what you wanted to spend?

Take a look at this, also bank-owned, home at 131 Crawford Street in Salisbury.  This tiny one bedroom mill village house in the Cone Mills Neighborhood is the perfect rental property, with one bedroom and one bath, new replacement windows, and new Pergo™ laminate flooring in the living and dining rooms. 



Cone Mills Corporation was a world leader in textile manufacturing of corduroy, flannel, denim and other cotton fabrics for most of the 20th century. The company was based in Greensboro, North Carolina and its mills were mostly in North and South Carolina. The company, disestablished in 2004, was known as the world's largest producer of denim. In 1888, brothers Moses and Caesar Cone invested in Salisbury Cotton Mills of Salisbury, North Carolina - later to be known as Cone Mills.

Mill villages were company-owned towns, built from scratch by textile mills to house their factory workers and their families. In the early 1900s, Cone Mills Inc. built several self-sufficient villages to serve its factories.  131 Crawford is in the heart of the historic mill village that sprang up here.  Thousands of workers and their families made their lives in these “towns within a town” until the company began selling the houses (sometimes to workers) in the late 1940s.


The charm of mill villages is that these quiet, close-knit, neighborhoods are lined with similarly designed homes, creating a calming streetscape of cottages and sidewalks.  This cute house sits on a wonderfully deep lot  . . . 68' x 150'!

With a little TLC, and perhaps adding some AC, this will make wonderful income producing property.  131 Crawford Street is being sold 'As-Is'.  But at just $17,500 - you can afford to turn this little charmer around!   Call Greg Rapp/Wallace Realty to see for yourself!  We can picture rocking chairs on this front porch...can you?

These are not the only great investment opportunities that are out there right now!  So contact Greg Rapp, the area's expert on older and historic homes, preservation and restoration, to see which one is right for you!  Call 704-213-6846!  You won't regret it!

131 CRAWFORD STREET 
Salisbury, NC 28144
MLS#: R57836 
List Price: $17,500 

127 CALDWELL STREET SOUTH 
Salisbury, NC 28144
MLS#: R57832 
List Price: $24,500









Greg Rapp 
Wallace Realty Co. 
704 213 6846 Mobile 
704 636 2021 Office 
www.realestatesalisbury.net