175 Michael Street, Grandy, NC 27947

Property Description

Investor Opportunity | Cash-Flowing Property in Jarvisburg| Employee housing below $300K 175 Michael Street, Jarvisburg, NC — a cash-flow-positive investment property offering immediate income and long-term flexibility for the right buyer. Permitted as a 2-bedroom, 2-bath home, this property is currently configured to operate as a high-performing rental asset, making it an attractive option for investors seeking reliable returns. The upper level is leased month-to-month at $1,300 per month, providing instant cash flow from day one. The lower level studio is currently vacant, creating an opportunity for a new owner to place a tenant immediately, adjust rental rates, or reconfigure the space to align with their investment strategy. There is already potential tenant interest, allowing for a seamless transition if desired. The rent was previously $1100 per month. This efficiently designed home was built by one of the area’s most reputable builders, Reliant Construction. With no wasted space, the layout offers an open and spacious feel on both the upper and lower levels, maximizing functionality and appeal for long-term tenancy. Both the upper and lower levels are heated and cooled by efficient mini-split systems, helping keep operating costs low. The washer and dryer are conveniently located on the lower level, along with a water softener that services the entire home, adding both comfort and value. Centrally located between the Outer Banks and Elizabeth City, this property presents an excellent opportunity for employee or workforce housing, which is increasingly difficult to secure in our area. The location is ideal for service industry professionals, healthcare workers, and OBX employees commuting to and from the beach. This property is well suited for: Investors seeking immediate positive cash flow Local Business owners looking for workforce or long-term housing solutions for employees Owners wanting flexibility with month-to-month tenancy and future repositioning With income already in place and additional upside potential, 175 Michael Street offers a strong, low-friction entry point into the Currituck County investment market. The stairs are on exterior only - you cannot get from floor to floor inside the house.