224 Frankie St, Lexington, NC
Brick Ranch Investment Opportunity — Rental or Flip Potential
This solid brick ranch sits on a spacious 0.82-acre lot in Lexington (Zillow), offering real upside for an investor or landlord. Brick construction is a durable, low-maintenance advantage over vinyl/frame builds in the area. The home needs a full interior clear-out and rehab — including a new roof and HVAC — and is priced accordingly for an as-is, cash/investor sale.
With an estimated $65,000 in repairs against a $240,000 ARV, and an asking price of $125,000 (OBO), that's roughly $50,000 in spread after rehab — a strong margin for a flip or a long-term rental hold in an area with steady rental demand.
Property Details:
Address: 224 Frankie St, Lexington, NC 27292
Year Built: 1965 (Zillow)
Property Type: Single Family, Brick Ranch (Zillow)
Bedrooms/Bathrooms: 3 beds, 2 baths (Zillow)
Square Footage: 1,590 Square Feet (Zillow)
Lot Size: 0.82 Acres (Zillow)
Property Photos
Assignment of Contract
Asking Price: $125,000 (OBO)
Estimated Repair Cost: $65k / ARV: $240k
