$315,000
●
House -
Off Market
2207 Elk River Drive
Durham, NC 27704
3 Beds
2 Baths,
1
Half Bath
1,430 Ft²
$1,933
Est. Monthly
$119
HOA / Fees
About This Property
How often do you find a 2006-built detached home with a fully
fenced backyard, one-car garage, just 15 minutes from Downtown
Durham -- for $315K? Spoiler alert - not often! Located in
the desirable Laurel Village community, 2207 Elk River Drive offers
a rare opportunity in a neighborhood where homes seldom become
available. The downstairs boasts a spacious, open-concept
kitchen and living area that's ideal for both everyday living and
entertaining. This inviting space extends seamlessly to the
backyard, where tall, mature trees create a lush, private backdrop
perfect for relaxing and enjoying the outdoors. Upstairs offers
three spacious bedrooms, all complete with walk-in closets. Two
bedrooms feature custom built-in shelving, adding character and
convenient storage. The generous primary suite serves as a private
retreat, while a full secondary bathroom thoughtfully accommodates
the additional bedrooms. A perennial garden in the front and
back yard will bloom this spring with hostas, tulips, daffodils,
and azaleas!
Unit Size
1,430 Ft²
Days on Market
-
Land Size
0.14 acres
Price per sqft
$220
Property Type
House
Property Taxes
$266
HOA Dues
$119
Year Built
2006
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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: 7 months ago (TMLS #10147535)
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Data used for valuation calculations is provided by RealtyHop, and other third party sources
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About Durham
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Listed by: Samuel Spangler Duncan, DASH Carolina
Last Updated: 7 months ago
Data Source: TMLS, MLS# 10147535
Last Updated: 7 months ago
Data Source: TMLS, MLS# 10147535
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