$242,000
●
House -
Off Market
108 Ray Road
Chapel Hill, NC 27516
3 Beds
2 Baths
1,508 Ft²
$396,219
RealtyHop Estimate
72.27%
Since May 1, 2016
National-US
Primary Model
About This Property
3 BR, 2 BA mid-century home just outside of Carrboro, yet inside of
the Chapel Hill Carrboro city school district. Access to the free
bus system, perfect location among 5 miles of trails around
University Lake, with recently fresh interior paint, updated
floors, and a geothermal heat system make this an attractive
investment at any price, and a 40' porch and wooded lot make it a
private retreat inside or out.
Unit Size
1,508 Ft²
Days on Market
-
Land Size
0.65 acres
Price per sqft
$153
Property Type
House
Property Taxes
-
HOA Dues
-
Year Built
1964
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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: 2 years ago (TMLS #2053855)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Nov 26, 2024 | Sold | ||
| Sold | |||
| Nov 5, 2024 | In contract | - | |
| In contract | |||
| Oct 25, 2024 | Listed by Fonville Morisey Realty | $480,000 | |
| Listed by Fonville Morisey Realty | |||
| | |||
|
Simply stunning kitchen renovation is just one of the upgrades in this gem. New windows, garage door, refinished hardwoods, conditioned crawl space, light fixtures, geo thermal HVAC and a new roof on the way (11/12). All on a huge lot close to Carrboro (but paying only county taxes) and that quintessential southern rocking chair front porch.
| |||
| Apr 18, 2016 | Sold | ||
| Sold | |||
| Mar 9, 2016 | Listed by Franklin Street Realty | $230,000 | |
| Listed by Franklin Street Realty | |||
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Property Highlights
Garage
Air Conditioning
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
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About Ray Road South
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Listed by: James Blackburn, Franklin Street Realty
Last Updated: 2 years ago
Data Source: TMLS, MLS# 2053855
Last Updated: 2 years ago
Data Source: TMLS, MLS# 2053855
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