406 Mill St, Winston-Salem, NC 27103
1 Bedroom | 1 Bathroom 753 SqFt | 1 Story Lot Size: 0.19 Acres Built in 1910 Zoning: RS7 Subdivision: P.H. Hanes Knit Co. (Residential) Single-Family Residence Vacant at Closing – Ready for a Tenant!
Prime Location – Minutes from Downtown Winston-Salem!
Only 7 Minutes to Downtown! – Quick access to major employers, restaurants, and nightlife.
Close to Hospitals & Universities – Short drive to Wake Forest Baptist Medical Center and Winston-Salem State University, attracting healthcare and student renters.
Near Shopping & Parks – Convenient to Thruway Shopping Center, Hanes Mall, and local parks for recreation.
Easy Highway Access – Close to I-40 & US-421, making commuting a breeze.
Why This is a Great Turnkey Rental:
Move-In Ready with Key Updates – Recently updated bathroom, good-condition HVAC & plumbing, and a newer roof (5-10 years old).
Strong Rental Demand – Winston-Salem’s affordable housing market and job growth create consistent demand for rentals.
Low Maintenance Costs – All-electric utilities, city water/sewer, and a small lot reduce upkeep expenses.
Affordable Entry Price with Strong ROI
Asking Price: $135,000
Estimated Rent: $1,200 – $1,400/month
Investment Upside – Potential to Increase Value & Rent:
Reconfigure to a 2BR/1BA – Adding an extra bedroom could increase ARV to $225K+ and boost rental income.
Minimal Cosmetic Upgrades Could Add Value – Fresh paint and small kitchen updates could further attract tenants.
Recent Comps in the Area:
409 Thurston St – Sold for $234K
2521 Maplewood Ave – Sold for $248K
1514 S Hawthorne Rd – Sold for $245K
Whether you’re looking for a cash-flowing rental or a flip, this property has solid fundamentals and great upside!
Interested? Contact us today!