Mobile homes are also rising in value. See what $240K (or less) gets in Triangle
With house prices steadily rising across the Triangle, many would-be buyers are turning to more affordable alternatives like prefabricated homes.
The result: mobile or manufactured homes are climbing in value at some incredible rates, according to a recent study by online loan lending platform LendingTree.
In particular, North Carolina ranked among the states where mobile homes are the most expensive with a median price of around $70,600. That’s still nearly $166,300 less than the median value of a single-family home, LendingTree noted, but their value is climbing quickly — with a five-year appreciation of nearly 20% statewide.
This week’s Price Point sheds light on this trend. It features double-wide manufactured homes built after 1986 ranging from $130,000 to $240,000.
Among them is a three-bedroom, two-bathroom manufactured home in the Old Stage Estates subdivision of Raleigh. In 2014, it sold for $85,000. This July, buyers bought it for $240,000. That’s a jump of more than 182% in less than a decade.
At these prices, are manufactured homes still a good deal? You decide.
2626 Amos Circle, Raleigh, 27610
Sold: $130,000 on June 8.
Double-wide manufactured home with two bedrooms and two bathrooms on a .36-acre lot
Built in 1986, this manufactured home is on a concrete foundation in the Neuse Woods neighborhood of Raleigh. It sits in a quiet cul de sac on a flat lot, according to the listing. It’s about a 16-minute drive west to downtown Raleigh, and about a 31-minute drive northwest to Raleigh-Durham International Airport.
The 1,127-square-foot home features vinyl siding, shingle roof, concrete parking, carpet and laminate flooring, electric water. There’s also a covered front porch and ramp access. Property is connected to community water.
Price per square foot: $115
HOA fees: None
Taxes: $250 (estimated)
Last sold: Unavailable
Listed by: Jean Doody, Keller Williams Realty Cary
10937 Stage Drive, Raleigh, 27603
Sold: $240,000 on July 21
Double-wide manufactured home with three bedrooms and two bathrooms on a .72-acre lot
Built in 2002, this ranch-style manufactured home is on a brick foundation in the Old Stage Estates subdivision of Raleigh. It’s about a 25-minute drive north to downtown Raleigh, and about a 40-minute drive northwest to Raleigh-Durham International Airport.
The 1,540-square-foot home is on a permanent foundation. It features a new roof, remodeled kitchen, carpet, luxury vinyl plank, porch, and fenced backyard. Parking is on asphalt. Property includes well and septic tank.
Price per square foot: $156
HOA fees: None
Taxes: $870 (estimated)
Last sold: 2014 for $85,000
Listed by: Emilee Carraway, Compass – Raleigh
101 Wilbur Lane, Angier, NC, 27501
Sold: $208,000 on August 8
Double-wide manufactured home with two bedrooms and two bathrooms on one acre
Built in 1999, this home is on a brick foundation in Angier. It’s about a 30-minute drive north to downtown Raleigh, and about a 46-minute drive northwest to Raleigh-Durham International Airport.
The 1,357-square-foot ranch-style manufactured home features partial brick and vinyl siding. There’s also a two-car garage. Property includes septic tank and well.
Price per square foot: $153
HOA fees: None
Taxes: $742 (estimated)
Last sold: 2006 for $93,500
Listed by: Naomi Richardson, Mark Spain Real Estate
