$1,000,000
●
Land -
For Sale
1206 Ellis Road
Durham, NC 27703
Studio
0 Bath
$5,109
Est. Monthly
2.04%
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
-
Days on Market
424 days
Land Size
0.35 acres
Price per sqft
-
Property Type
Land
Property Taxes
$199
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 #10118257)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Aug 27, 2025 | Listed by Irby Stinson Realty | $1,000,000 | |
| Listed by Irby Stinson Realty | |||
| Jan 17, 2023 | Sold | ||
| Sold | |||
| Dec 16, 2022 | Listed by The Ocean Group | $240,000 | |
| Listed by The Ocean Group | |||
| | |||
|
INVESTOR SPECIAL.Home is livable and has been updated but needs more TLC. House has new foundation. Certificate from city in docs. It is currently leased on a M2M basis. Owner would like to sell as a package with 1202 Ellis rd or separately.
| |||
| Sep 2, 2022 | No longer available | - | |
| No longer available | |||
| Aug 9, 2022 | Relisted | $295,000 | |
| Relisted | |||
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Property Highlights
Exterior Details
Lot Size Area: 0.35
Lot Size Units: Acres
Lot Size Acres: 0.35
Lot Size Square Feet: 15246
Lot Size Dimensions: TBD
Water Source: Public
Financial Details
Tax Assessed Value: $170,785
Tax Annual Amount: $2,382
Utilities Details
Sewer : Public Sewer
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Comparables
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Status
Status
Type
Beds
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ft²
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Asking Price
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Closing Price
Sold On
Sold On
HOA + Taxes
About Ed Cook
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Listed by: Peyton Irby, Irby Stinson Realty
Last Updated: 8 months ago
Data Source: TMLS, MLS# 10118257
Last Updated: 8 months ago
Data Source: TMLS, MLS# 10118257
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