Lakewood Mid-Century Ranch | One-Level Living | Two Fireplaces |
Huge Private Patio | Wooded 0.36-Acre Lot Come see one of
Lakewood's distinctive mid-century ranches-the house on the hill
with the red metal roof. Set on a beautifully wooded 0.36-acre lot
with a fenced backyard, this exceptionally well-maintained
3-bedroom, 2-bath home offers the rare combination of one-level
living, character, privacy, and a terrific Durham location. Located
on a private dead-end street with no HOA. Inside, you'll find
an updated kitchen with quartz countertops and stainless-steel
appliances, hard-surface flooring throughout, and two wood-burning
fireplaces that add warmth and personality to the living spaces.
The comfortable single-level layout makes everyday living easy
while retaining the charm and character of its 1958 origins.
The kitchen and backyard are where this home truly shine.
Step outside to the extra-large private patio, approximately 17' ×
39'-an impressive 663 square feet of outdoor living space.
Surrounded by mature trees, the patio and wooded backyard create a
peaceful setting for dinner parties, weekend gatherings, grilling,
morning coffee, or simply enjoying the outdoors. The fenced
backyard provides even more room for family and pets to relax,
play, and garden. And then there's the location. Enjoy easy
access to neighborhood favorites including Nana's, Foster's Market,
and Rockwood Park, as well as Forest Hills Park, downtown Durham,
DPAC, and Durham Bulls Athletic Park. With its mature trees,
two fireplaces, generous private patio, fenced backyard, updated
kitchen, one-level living, and highly desirable location, this is
much more than another three-bedroom ranch. It's a home with
personality-a private retreat where you can enjoy the best of
Durham right outside your door.
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.
Construction Materials: Brick, Brick Veneer, Vinyl Siding
Patio and Porch Features: Covered, Front Porch, Patio
Lot Features: Back Yard, City Lot, Corner Lot, Few Trees, Front Yard, Landscaped, Many Trees, Private, Rectangular Lot, Secluded, Sloped, Sloped Up, Hardwood Trees
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