$475,000
●
House -
Off Market
107 Covington Drive
Chapel Hill, NC 27514
3 Beds
2 Baths
1,647 Ft²
$3,022
Est. Monthly
$44
HOA / Fees
About This Property
Located in an excellent Chapel Hill location, this inviting
one-level home offers comfort, convenience, and access to top-rated
schools just minutes from UNC-Chapel Hill and the bus route to
campus. The thoughtfully designed open floor plan features bright
living spaces filled with natural light, a functional kitchen with
ample cabinet and counter space, and comfortable bedrooms that
provide flexibility for guests, a home office, or everyday living.
The home also includes a 2-car garage and is nestled within a quiet
neighborhood known for its peaceful surroundings and easy access to
parks, shopping, dining, and I-40. Combining single-level living
with a prime 27514 location, this property presents an excellent
opportunity for homeowners or investors seeking convenience and
value near UNC.
Unit Size
1,647 Ft²
Days on Market
-
Land Size
0.15 acres
Price per sqft
$304
Property Type
House
Property Taxes
$522
HOA Dues
$44
Year Built
1992
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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 #10152482)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| May 4, 2026 | Sold | ||
| Sold | |||
| Mar 20, 2026 | In contract | - | |
| In contract | |||
| Mar 13, 2026 | Listed by LPT Realty LLC | $500,000 | |
| Listed by LPT Realty LLC | |||
| Aug 8, 2025 | Listed | $464,000 | |
| Listed | |||
| | |||
|
Beautiful one-level home in excellent location & TOP RATED SCHOOLS! Open floor plan with gorgeous updated floors. Large light-filled kitchen with tons of cabinet & counter space. Spacious master bath with double sinks, tub, separate shower & two walk-in closets. Two additional bedrooms with walk-in closets. Two-car rear-facing garage with privacy fence. Beautiful, quiet neighborhood! Close to UNC & bus route to campus! Only minutes to l40 & East Chapel Hill High School! HVAC (2018) Roof (2016)
| |||
| Jul 17, 2025 | Price Decreased |
$469,000
↓ $10K
(2.1%) | |
| Price Decreased | |||
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Property Highlights
Garage
Air Conditioning
Fireplace
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Comparables
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Status
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Type
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ft²
Price/ft²
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Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
About Covington Place
Similar Homes for Sale
Currently no similar homes aroundNearby Rentals
Listed by: Angie Cole, LPT Realty LLC
Last Updated: 6 months ago
Data Source: TMLS, MLS# 10152482
Last Updated: 6 months ago
Data Source: TMLS, MLS# 10152482
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