$530,990
●
House -
In Contract
1023 Gemstone Way
Durham, NC 27703
5 Beds
4 Baths
2,881 Ft²
$2,716
Est. Monthly
$108
HOA / Fees
About This Property
This thoughtfully designed two-story home blends modern style with
everyday comfort. The open-concept kitchen, dining area, and Great
Room create a seamless gathering space, with direct access to the
screened porch and patio for easy indoor-outdoor living. Tucked
away for privacy, the guest suite is ideal for hosting overnight
visitors. Upstairs, a generous central loft provides versatile
shared living space, framed by three secondary bedrooms and an
expansive owner's suite.
Unit Size
2,881 Ft²
Days on Market
-
Land Size
0.14 acres
Price per sqft
$184
Property Type
House
Property Taxes
-
HOA Dues
$108
Year Built
-
Listed By
Derrick Spencer
Lennar Carolinas LLC
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Cap Rate
100% Occupancy
N/A (extreme outlier) What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Last updated: 6 months ago (TMLS #10168085)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| May 29, 2026 | In contract | - | |
| In contract | |||
| May 21, 2026 | Price Increased |
$530,990
↑ $3K
(0.6%) | |
| Price Increased | |||
| May 18, 2026 | Listed by Lennar Carolinas LLC | $527,990 | |
| Listed by Lennar Carolinas LLC | |||
Property Highlights
Garage
Parking Details
Has Garage
Attached Garage
Garage Spaces: 2
Interior Details
Full Bathrooms: 4
Interior Features: Crown Molding, Double Vanity, Open Floorplan, Pantry, Recessed Lighting, Smart Thermostat, Walk-In Closet(s), Quartz Counters, Walk-In Shower
Appliances: Built-In Gas Range, Dishwasher, Disposal, Dryer, Microwave, Range Hood, Tankless Water Heater, Washer
Flooring Type: Carpet, Luxury Vinyl, Tile
Rooms: 9
Exterior Details
Square Footage: 2881
Architectural Style: Traditional
Year Built: 2026
Builder Name: Lennar
Builder Model: Nelson
Building Area Total: 2881
Levels: Two
Construction Materials: Stone Veneer, Vinyl Siding
Pool Features: Community
Lot Size Area: 0.14
Lot Size Units: Acres
Lot Size Acres: 0.14
Lot Size Square Feet: 6098.4
Water Source: Public
Utilities Details
Cooling Type: Dual
Heating Type: Central
Sewer : Public Sewer
Location Details
HOA/Condo/Coop Fee Includes: Internet
HOA/Condo/Coop Amenities: Cabana, Dog Park, Park, Playground, Pool
HOA Fee: $108
HOA Fee Frequency: Monthly
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
About Durham
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Listed by: Derrick Spencer, Lennar Carolinas LLC
Last Updated: 6 months ago
Data Source: TMLS, MLS# 10168085
Last Updated: 6 months ago
Data Source: TMLS, MLS# 10168085
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