tomo logo

$375,000

Beds
4
Baths
2.5
sq ft
2,170

501 West 2nd Avenue, Lexington, NC 27292

501 West 2nd Avenue

Lexington, NC 27292

  • 10 days on market
    • Price drop $15,000↓
Beautiful Historic Home – Lexington, NC! Situated in the Highly Sought After Park Place District, this historic gem appears on the 1923 Sanborn Map and offers endless potential as a Bed & Breakfast, Airbnb, or gallery! Just 4 minutes from Childress Vineyards and walking distance to downtown Lexington, enjoy local shops, concerts, and the famous BBQ festival. This move-in-ready home features a grand marble walkway with stately columns and lion décor. Major renovations and updates include a new roof (2021), exterior facade changes (2022), main HVAC (2022), and appliances—range, microwave, refrigerator, washer, and dryer (2022). Additional upgrades: fixtures, electrical, plumbing, new fence, sump pump, wallpaper, and front door. Available to investors/cash or conventional buyers! Option to purchase furnished for $400,000 (see list). Don't miss this rare investment opportunity!

Details

Property type

Single Family Residence

Est. home value

$264,563

Lot size

Unknown

Price per sq ft

$173

Year built

1911

Price History

02/15/2025
CanopyMLS

CanopyMLS #4222624

Price change
$375,000
-3.85%
02/13/2025
CanopyMLS

CanopyMLS #4222624

Listed
$390,000
+44.98%
01/19/2022
CanopyMLS

CanopyMLS #3795889

Sold
$269,000

Schools & Community

Elementary school: 

Southwest

Middle school: 

Lexington

High school: 

Lexington

Community features: 

Sidewalks, Street Lights

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$90,177
Asking price
$375,000
Closing costs (~8% of asking)
-$30,000
Est. remaining loan balance
-$254,823
Cash to seller
$90,177

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

Rocket Mortgage Llc

Loan start date

January 2022

Original loan amount

$278,684

Est. remaining balance

$254,823

Interest rate

3.11%

Loan type

VA, 25 year

Seller

Trent L Thomas and Juanita Thomas

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

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Status: Active

Tomo last checked: 02/23/2025 at 1:30 PM

Listing updated: 02/19/2025 at 11:09 AM

Listed by: Teresa Rufty, TMR Realty, Inc. Phone #: (704) 245-6184

MLS: CanopyMLS #4222624

CanopyMLS logo

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