$1,000,000
●
House -
For Sale
1202 Ellis Road
Durham, NC 27703
3 Beds
2 Baths
1,350 Ft²
$5,104
Est. Monthly
2.19%
Cap Rate
About This Property
City Council just Rezoned!! Incredible Investment Opportunity!
Prime location in fast growing area of Durham, perfectly
situated between Downtown Durham and RTP. Just minutes in
either direction to reach these employment and economic hubs.
The property consists of two separate lots at the corner of
Ellis and Riddle Roads. Once combined, it will be roughly
1.25 acres and ready to develop. City Council approved plan
for 20 residences is in the photo and document section. This
sale includes 1202 and 1206 Ellis Rd.
Unit Size
1,350 Ft²
Days on Market
424 days
Land Size
0.89 acres
Price per sqft
$741
Property Type
House
Property Taxes
$193
HOA Dues
-
Year Built
1947
Listed By
Peyton Irby
Irby Stinson Realty
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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: 8 months ago (TMLS #10118255)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Aug 27, 2025 | Listed by Irby Stinson Realty | $1,000,000 | |
| Listed by Irby Stinson Realty | |||
| Mar 21, 2023 | Sold | ||
| Sold | |||
| Feb 8, 2023 | Sold | ||
| Sold | |||
| Nov 15, 2022 | Listed by The Ocean Group | $235,000 | |
| Listed by The Ocean Group | |||
| | |||
|
This ranch style home with a new roof & Approx .83 acres is an investors DREAM given it’s Prime location, right across from 2021 built townhome communities & 2022/2023 builds in progress. Owner is also willing to sell the adjacent home which will give you TWO houses on more than an acre lot to do with as you please. Appraisal and professional measurements coming soon. Being sold AS-IS.
| |||
| Aug 2, 2022 | No longer available | - | |
| No longer available | |||
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Property Highlights
Air Conditioning
Interior Details
Full Bathrooms: 2
Flooring Type: See Remarks
Rooms: 1
Exterior Details
Square Footage: 1350
Architectural Style: Transitional
Year Built: 1947
Building Area Total: 1350
Levels: Two
Construction Materials: Unknown
Lot Size Area: 0.89
Lot Size Units: Acres
Lot Size Acres: 0.89
Lot Size Square Feet: 38768
Water Source: Public
Financial Details
Tax Map Number: 7
Tax Annual Amount: $2,315
Utilities Details
Cooling Type: Central Air
Heating Type: Heat Pump
Sewer : Public Sewer
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Comparables
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About Ed Cook
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Listed by: Peyton Irby, Irby Stinson Realty
Last Updated: 8 months ago
Data Source: TMLS, MLS# 10118255
Last Updated: 8 months ago
Data Source: TMLS, MLS# 10118255
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