Are you searching for an affordable property with renovation potential and an additional living space? Located at 1401 Gold Street N in Wilson, North Carolina, this property offers an exciting opportunity for investors, contractors, and buyers who can see the possibilities behind a home that needs some attention.
Priced at just $97,500, the property features a three-bedroom, two-bathroom main house, a separate accessory dwelling unit (ADU), and a corner-lot location close to downtown Wilson and Barton College.
For buyers who enjoy renovation projects, this property offers more than a traditional fixer-upper. The additional structure in the backyard, complete with a studio-style layout, kitchenette, and attached garage, creates opportunities worth exploring.
With the right improvements and careful planning, the property could become a comfortable residence, a multigenerational living arrangement, or an investment project tailored to the next owner’s goals.
A Property Full of Possibilities
The first thing that makes this Wilson property stand out is its potential for transformation. Rather than purchasing a completely renovated home at a higher price, buyers have the opportunity to evaluate the existing structure and decide how they would like to improve it.
The three-bedroom, two-bathroom main house provides a practical starting point for a renovation. Depending on the current condition, improvements could include refreshing the interior, updating the kitchen and bathrooms, improving flooring, repainting, and addressing any necessary structural or mechanical repairs.
For someone with renovation experience, this type of property can offer the freedom to create a home that reflects personal preferences rather than adapting to someone else’s design choices.
The corner lot adds another appealing feature. Corner properties can offer different landscaping possibilities, multiple street-facing perspectives, and opportunities to improve curb appeal through thoughtful exterior updates. Buyers should review the lot boundaries, access points, and applicable local requirements before planning substantial changes.
Although the home needs work, its asking price of $97,500 may attract buyers who are prepared to invest time and money into bringing the property back to life.
Three Bedrooms and Two Full Bathrooms
The main residence offers three bedrooms and two full bathrooms, making it a potentially practical option for individuals, couples, or families looking for a home with room to grow.
With three bedrooms, the layout could accommodate a primary bedroom, additional family bedrooms, or flexible spaces for a home office or hobby room. The two full bathrooms can also provide everyday convenience, particularly for households with multiple occupants.
The final possibilities will depend on the existing floor plan and the condition of the rooms. A thorough inspection should help determine which areas need cosmetic improvements and which may require more substantial repairs.
For buyers planning a complete renovation, it may be possible to develop a coordinated design that makes the most of the available space. Updated finishes, improved lighting, practical storage, and a refreshed kitchen could help give the home a more modern feel while keeping the overall project within a carefully managed budget.
Before beginning work, prospective owners should evaluate the roof, foundation, plumbing, electrical systems, heating and cooling equipment, and any signs of moisture damage. These major items can significantly influence the total renovation cost.
A Separate ADU Adds Extra Flexibility
One of the most interesting features of this property is the separate accessory dwelling unit located behind the main house.
The ADU has a studio-style layout and includes a kitchenette, creating a separate space that could serve several purposes depending on its condition and permitted use.
For families, it might provide a more independent area for an adult relative or visiting guests. Someone working from home could potentially explore using the space as a private office or creative studio, subject to applicable regulations and the building’s suitability.
For investors, the additional structure may be worth examining as a potential source of rental income. However, rental use would depend on local zoning rules, occupancy requirements, permits, utility arrangements, and the condition of the unit. Buyers should verify that the structure and its kitchenette were properly permitted and that the intended use is allowed.
The ADU’s separate location could offer a useful degree of privacy compared with having all occupants share the main house. That separation may be especially valuable for households looking for flexible living arrangements.
Of course, the actual value of this feature depends on its current condition. A professional inspection can help establish whether the unit needs cosmetic work, utility upgrades, or more extensive renovation before it can be used comfortably.
An Attached Garage Adds Practical Value
The ADU also includes an attached garage, providing another feature that distinguishes this property from many basic renovation opportunities.
Garage space can be useful for vehicle storage, tools, equipment, and household items. For a buyer planning to renovate the property personally, it may also offer convenient storage for materials and supplies during the project, provided the space is safe and suitable for that purpose.
The listing identifies detached parking, gravel parking, off-street parking, and garage facilities, with two total parking spaces and two attached garage spaces indicated in the parking details. Because these descriptions may refer to different parts of the property, buyers should confirm the exact parking arrangement and the relationship between the garage and the ADU during a property visit.
Having parking available can be an advantage for a household with vehicles or for occupants who need convenient access to the property.
As with the rest of the home, the garage should be checked for structural condition, electrical safety, and any repairs that may be necessary.
Conveniently Located Near Downtown Wilson
Location is another reason this property may attract attention. According to the listing, the home is approximately six minutes from downtown Wilson and less than five minutes from Barton College.
That proximity may offer convenient access to local shops, restaurants, services, and campus amenities. For residents who prefer to remain close to everyday destinations, the location could be a practical advantage.
Downtown Wilson provides a local destination for shopping, dining, and community activities, while Barton College adds an important educational landmark to the surrounding area.
The location may also interest buyers who want to investigate the area’s housing market before committing to a renovation. Investors should research comparable properties, local rental demand, vacancy rates, and recent sales to understand how the property might fit into their investment strategy.
Travel times can vary depending on traffic and the precise destination, so buyers should verify the location and accessibility themselves.
An Opportunity for Investors and Renovators
At $97,500, this property may be worth considering for buyers who understand the challenges and rewards of renovation projects.
The combination of a three-bedroom main house and a separate studio-style ADU offers several potential strategies. An owner might renovate the main residence for personal use, explore a multigenerational arrangement, or investigate whether both structures could serve different permitted purposes.
Investors could also assess whether the completed property might appeal to future buyers or tenants. Any financial analysis should account for the purchase price, closing costs, renovation expenses, insurance, taxes, utilities, permits, and a contingency fund for unexpected repairs.
It is important not to assume that the ADU can generate rental income without first confirming its legal status and condition. Likewise, the property’s eventual market value will depend on comparable sales, the quality of the renovation, and local market conditions.
A realistic budget and professional inspections are essential for determining whether the opportunity makes financial sense.
Bring Your Vision to 1401 Gold Street N
This Wilson property offers a combination that can be difficult to find at an entry-level asking price: a three-bedroom, two-bathroom main house, a separate ADU with a kitchenette, garage space, and a convenient location near downtown and Barton College.
The home will require attention, planning, and investment, but it also gives the next owner an opportunity to shape the property according to their needs.
For renovators, it could be a rewarding project. For buyers seeking a home with additional living space, it may offer flexibility worth investigating. For investors, it presents a chance to evaluate two structures on one property and determine whether a renovation strategy makes sense.
FROM ZILLOW