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Durham 27704 Colonial Village
2523 Banner Street
$415,000
● House - Off Market

2523 Banner Street

Durham, NC 27704
bedrooms
3 Beds
bathrooms
2 Baths
square feet
1,515 Ft²
$416,844
RealtyHop Estimate
5.53%
Since Dec 1, 2022
National-US
Primary Model

About This Property

Don't let interest rates spook you, Durham is still one of the fastest growing markets in the country!  This home is more treat than trick, with it's BEAUTIFUL 1940s bones and proximity to thriving Downtown Durham!  This spacious 3 bed 2 bath offers a separate home office and 2 sunrooms, perfect for your potions and plants, or a studio space!  Streaming with light and lovely old hardwoods.  Large kitchen with prep and storage space, gas range, and new appliances within the last year!  A full owners' suite with soaking tub!  Restored, wood burning fireplace is ready for your cauldron.  Walking distance to neighborhood favs like Kings Red & White, Omie's Coffee, and Northgate Park.  Don't miss out on this house, or it may haunt you!
Unit Size
1,515 Ft²
Days on Market
-
Land Size
0.20 acres
Price per sqft
$261
Property Type
House
Property Taxes
$217
HOA Dues
-
Year Built
1942

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Cap Rate Calculator

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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 #2479359)

Price History

Date / Event Date Event Price
Nov 17, 2022 Sold
Premium
Sold
Oct 14, 2022 Listed by Inhabit Real Estate $395,000
Listed by Inhabit Real Estate
Oct 7, 2019 Sold
Premium
Sold
May 25, 2012 Sold
Premium
Sold

Property Highlights

Air Conditioning
Parking Available
Fireplace

Building Info

Overview

    General

  • Year Built: 1942
  • Effective Year Built: 1942
  • Total Rooms: 4
  • Bedroom Count: 3
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Bathroom Plumbing Fixtures: 5
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 17
  • Building Style: 11
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 15
  • Floor Count: 100
  • Floor Cover: 0
  • Basement Type: 5
  • Basement Area: 0
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 8,712
  • Lot Size Depth Feet: 1,500
  • Lot Size Frontage Feet: 590
  • Total Building Area: 1,627
  • Building Area: 1,627
  • Building Area Measurement: E

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 13
  • Heating: 24
  • Heated Square Feet: 1,627
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 1
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: COLONIAL VLG
  • Land Acres: 0000000200
  • Standard Land Use Code: 1001
  • County Land Use Code: 111
  • Legal Description 1: COLONIAL VILLAGE/LT#002 PL000014-000094

Neighborhood

  • School District Name: Durham Public Schools
  • School Tax District Code 2: CTY DURHAM
  • Census Tract: 000101

Zoning

  • Zoning: RU-5

Geography

  • Assessors Map Reference: BK 14 PG 94
  • Parcel: 108975
  • Lot: 2
  • Municipality: CITY OF DURHAM
  • Latitude: 36.0231
  • Longitude: -78.8889

    Address

  • Full Address: 2523 Banner St
  • Address - House Number: 2523
  • Address - Street Name: Banner
  • Address - Suffix Type: St
  • State: NC
  • City Name: Durham
  • Carrier Code: C001
  • 4-Digit Zip Code: 4451
  • Zip Code: 27704

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $344,779

    Appraisal Valuation

  • Standard Deviation: 0.1446
  • Valuation Date: Oct 25, 2023
  • Confidence Score: 82
  • Final Value: 439,289
  • High Value: 502,823
  • Low Value: 375,756

    Market Valuation

  • Market Total Value: $263,286
  • Market Land Value: $30,075
  • Market Improvement Value: $233,211

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $263,286
  • Assessed Land Value: $30,075
  • Assessed Improvements Value: $233,211

    Sales

  • Current Sale Contract Date: Nov 04, 2022
  • Current Sale Recording Date: Nov 17, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 44049
  • Previous Sale Recording Date: Oct 07, 2019
  • Previous Sale Contract Date: Oct 01, 2019
  • Previous Sale Amount: $275,000
  • Previous Sale Document Type: 71
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Colonial Village

Stats & Trends

Median Asking:

$300,000

Sale Price/ft²

$280

Below Asking

0.03%

Average Days on Market

77

Average Home Size

1211 ft²

Average Home Age

63.5 years

Currently For Sale

4 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Unit for rent at 1208 Drew Street, Durham, NC, 27701

$2,000 /mo

  • 3 Beds
  • 2 Baths
1208 Drew Street, Durham, NC, 27701 Listing by Tanisha Holmes
Unit for rent at 500 Spruce Street, Durham, NC, 27703

$2,100 /mo

  • 3 Beds
  • 3 Baths
500 Spruce Street, Durham, NC, 27703 Listing by Debra Thomas
Unit for rent at 603 E Hammond Street, Durham, NC, 27704

$1,875 /mo

  • 3 Beds
  • 2 Baths
  • 1,502 ft²
603 E Hammond Street, Durham, NC, 27704 Listing by Kathrine Arsena

Rentals Near You

Click here to view more rentals in the neighborhood.
TMLS

Listed by: Marie Kathleen Brockenbrough, Inhabit Real Estate
Last Updated: 2 years ago
Data Source: TMLS, MLS# 2479359
Some IDX listings have been excluded from this IDX display. Brokers make an effort to deliver accurate information, but buyers should independently verify any information on which they will rely in a transaction. The listing broker shall not be responsible for any typographical errors, misinformation, or misprints, and they shall be held totally harmless from any damages arising from reliance upon this data. This data is provided exclusively for consumers’ personal, non-commercial use. Listings marked with an icon are provided courtesy of the Triangle MLS, Inc. of North Carolina, Internet Data Exchange Database. Closed (sold) listings may have been listed and/or sold by a real estate firm other than the firm(s) featured on this website. Closed data is not available until the sale of the property is recorded in the MLS. Home sale data is not an appraisal, CMA, competitive or comparative market analysis, or home valuation of any property. Copyright 2026 Triangle MLS, Inc. of North Carolina. All rights reserved.

Frequently Asked Questions

When was property at 2523 Banner Street built and last sold?
The property at 2523 Banner Street was built in 1942 and last sold on Nov 4, 2022 for $415,000.
How much is this home worth?
The estimated value of the home located at 2523 Banner Street is $405,252.
What are some comparable homes to 2523 Banner Street?
There are currently no comparable homes to 2523 Banner Street.
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