118 S Grace St, Rocky Mount, NC, 27804
About This Home
Downtown Villas is a turnkey portfolio of 10 furnished residences operating within one centralized community in Rocky Mount. Currently operating as extended-stay housing. Generating approximately $214,000 in annual revenue and over $131,000 in NOI, the portfolio combines cash flow with operational infrastructure, individually deeded parcels, and embedded growth opportunities. 3 duplexes and 4 townhomes in one location, with income expansion opportunity to add two ADUs in the rear. All units have been renovated or are newly built, requiring minimal maintenance. Smart systems included security and electronic keypads. Property Address (with Bedroom/Bathrooms): 118 S Grace St (2/2), 122 S. Grace St (2/1.5), 128 S Grace St (1/1), and 4 townhomes on Western Ave (2/1.5 each). Current photos are posted for the 118 S Grace St duplex. See the videos for an overview of the entire portfolio. All units are renovated and fully furnished. Interested investors should reach out for additional details, including photos for all units, the pro forma, and other investment questions. Investment highlights - Turnkey multifamily property: 3 duplexes and 4 townhomes, fully furnished - Built or renovated: 2023-2025, requiring minimal maintenance - Purpose-built for extended-stay furnished housing - Income expansion potential: add two additional ADUs on two parcels (10 12 units) - Cash Flow: $214K+ Revenue, $131K+ NOI - Operational Infrastructure: Established systems provide operational efficiencies and management flexibility, with self-management upside - Established guest reputation: 100+ Reviews - Proximity to UNC Health Nash, Rocky Mount Mills, Downtown Rocky Mount, I-95 access
Getting Around
Somewhat Walkable
Some Transit
Somewhat BikeableSchools
Construction
Condition
- Year built: 2023
Materials
- Roof: Shingle
- Construction materials: Aluminum Siding
Type & Style
- Home type: Townhouse
- Property subType: Townhouse,Multi Family,Duplex
Interior
Appliances
- Appliances included: Microwave,Refrigerator,Stainless Steel Appliance(s),Washer/Dryer
- Laundry features: Inside
Bedrooms & Bathrooms
- Bedrooms: 18
- Bathrooms: 14
- Full bathrooms: 11
- 1/2 bathrooms: 3
Features
- Flooring: Vinyl
- Finished area below ground: 0
- Finished area above ground: 9,465
Heating & Cooling
- Heating features: Heat Pump
- Cooling features: Heat Pump
Interior Area
- Total structure area: 9,465
- Total interior livable area: 9,465 sqft
Property
Details
- Parcel number: 024863
- Special condition: Standard
Features
- Levels: Two
- Stories: 2
- Has view: Yes
Lot
- Lot size: 0.73 Acres
- Features: Corner Lot
Parking
- Total spaces: 10
- Parking features: Asphalt,Common,Open
- Has uncovered spaces: Yes
- Uncovered spaces: 10
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Winter Weather
- Inland Flooding
- Tornado
- Cold Wave
- Hail
- Hurricane
- Heat Wave
- Lightning
- Strong Wind
How This Home’s Risks Compare
FEMA Declared Disasters in Nash County and North Carolina
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $10,087 | $121,044 |
| Home Insurance * | $1,205 | $14,460 |
| Property Taxes | $1,034 | $12,408 |
| Electricity | $881 | $10,578 |
| Total | $13,207 | $158,484 |
Income You'd Need if You Spent...
North Carolina FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-07-14 | Listed for sale | $1,995,000 |
| 2022-03-14 | Sold | $55,000 |
| 2005-02-16 | Sold | $77,500 |
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