216 Sharpe Rd
Rocky Mount, NC 27803 • Active 4-unit income property
The attraction is scale: four 2BR units in one acquisition. Current reported rents total only $2,850, so the investment case depends on legitimate rent growth and clean legal-use documentation, not on the current income alone.
The numbers that matter
| Current ask / basis | $269,900 |
| Recommended max screen | $250K-$260K |
| Value / ARV screen | $275K-$305K |
| Rehab / reserve | $10K-$25K reserve |
| Rent screen | $2,850 actual / $3,600-$4,000 target |
| Estimated investor cash | ~$55K-$75K |
| Primary strategy | 4-unit DSCR / portfolio hold |
| Street View / block screen | Street View unavailable on one portal; public context shows car-dependent/noisy location |
How I would screen the financing
If legally a four-unit property, DSCR is the first permanent-financing screen. Lower-credit programs may begin around 620, while 80%+ leverage belongs to stronger files with acceptable DSCR and reserves.
Rule: minimum FICO and maximum leverage are not assumed to occur in the same file. Property condition, experience, reserves, DSCR, state and loan amount can materially change the terms.
Block context is part of the underwriting
One major portal reports Street View unavailable. Redfin provides broader location context and flags the area as car-dependent with multiple nearby noise sources. A current drive-by is required before treating the location as neutral.
Deal-breaking diligence
- Public record reports 4,608 SF and a 5+ unit classification while MLS says 2,376 SF and four units. Resolve before financing.
- Current rents are only $2,850 total.
- R-10 zoning and legal four-unit use need documentation.
- Noise/location context should be checked in person because Street View is unavailable through one major source.
Go back to the source.
The Deal Desk screen is a starting point. Verify current status, property condition, title, taxes, occupancy, legal use, rents, Street View / block context and any auction rules directly from the public source and local professionals.
“A good deal can survive conservative numbers and a street-level reality check.”Dr. Rob • Deal Desk
Want to pursue 216 Sharpe Rd?
Send the deal through the funding console. I will have the property, strategy, credit range, liquidity and experience in one clean packet.