$360,000
●
Condo -
Off Market
2608 Erwin Road #423
Durham, NC 27705
2 Beds
2 Baths
1,215 Ft²
$527,627
RealtyHop Estimate
46.56%
Since Oct 1, 2019
National-US
Primary Model
About This Property
Located directly across from Duke University and steps away from
Duke Medical Center, this top floor two-bedroom is ideal for
affiliates of the university, patrons of Duke athletics, or those
looking for the convenience of a mixed-use development. Features
include 19-foot ceilings, 10-foot windows, two Juliet balconies,
hardwood floors, granite countertops, and stainless steel
appliances. One of the only true two-bedroom, one-level floor
plans, this is a rare find by location and within the building.
Unit Size
1,215 Ft²
Days on Market
-
Land Size
-
Price per sqft
$296
Property Type
Condo
Property Taxes
$326
HOA Dues
$243
Year Built
-
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Cap Rate Calculator
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Operating Profit Per Year
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 #2274549)
Price History
Property Highlights
Parking Available
Garage
Air Conditioning
Parking Details
Has Garage
Parking Features: Assigned, Covered, Garage, Garage Door Opener
Garage Spaces: 2
Interior Details
Full Bathrooms: 2
Interior Features: Ceiling Fan(s), Granite Counters, High Ceilings, Kitchen/Dining Room Combination, Living/Dining Room Combination, Separate Shower, Walk-In Shower
Appliances: Dishwasher, Dryer, Electric Cooktop, Electric Water Heater, Microwave, Refrigerator
Flooring Type: Wood
Laundry Features: In Hall, Laundry Closet, Main Level
Rooms: 5
Exterior Details
Has Property Attached
Square Footage: 1215
Architectural Style: Contemporary
Year Built: 2007
Building Area Total: 1215
Levels: One
Building Area Units: Square Feet
Construction Materials: Brick Veneer
Lot Size Units: Square Feet
Lot Size Dimensions: 0.00
Water Source: Public
Financial Details
Tax Annual Amount: $3,914
Utilities Details
Cooling Type: Central Air, Heat Pump
Heating Type: Electric, Forced Air, Heat Pump
Sewer : Public Sewer
Location Details
HOA/Condo/Coop Fee Includes: Insurance, Maintenance Grounds, Maintenance Structure, Sewer, Trash, Water
HOA/Condo/Coop Amenities: Pool
HOA Fee: $243
HOA Fee Frequency: Monthly
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
Past Sales
| Date | Unit | Beds | Baths | Sqft | Price | Closed | Listed By |
|---|---|---|---|---|---|---|---|
|
07/28/2022
|
2 Bed
|
2 Bath
|
1018 ft²
|
$389,500
2 Bed
2 Bath
1018 ft²
|
$420,000
+7.83%
08/12/2022
|
Mary Hunter
Urban Durham Realty
| |
|
09/14/2022
|
1 Bed
|
2 Bath
|
840 ft²
|
$350,000
1 Bed
2 Bath
840 ft²
|
$316,000
-9.71%
02/15/2023
|
David Wilson
Carolina's Choice Real Estate
| |
|
05/11/2022
|
2 Bed
|
2 Bath
|
1200 ft²
|
$3,800
2 Bed
2 Bath
1200 ft²
|
-
-
|
Leslie Page
West Durham Realty
| |
|
10/18/2021
|
2 Bed
|
2 Bath
|
975 ft²
|
$365,000
2 Bed
2 Bath
975 ft²
|
$365,000
11/08/2021
|
Johnny Chappell
Compass - Raleigh
| |
|
08/24/2021
| |
1 Bed
|
1 Bath
|
-
|
$280,000
1 Bed
1 Bath
|
-
-
|
Tonya M Snow-Saleeby
Durham
|
|
03/11/2021
|
2 Bed
|
2 Bath
|
1194 ft²
|
$425,000
2 Bed
2 Bath
1194 ft²
|
$425,000
04/30/2021
|
Lisa Ellis
Real Estate By Design
| |
|
11/20/2020
|
2 Bed
|
2 Bath
|
1029 ft²
|
$349,500
2 Bed
2 Bath
1029 ft²
|
$340,000
-2.72%
12/16/2020
|
Paula Walls
Howard Perry & Walston Realty
| |
|
07/15/2020
|
1 Bed
|
1 Bath
|
739 ft²
|
$270,000
1 Bed
1 Bath
739 ft²
|
$275,000
+1.85%
08/21/2020
|
Ganna Fisher
Real Estate By Design
| |
|
08/22/2019
|
2 Bed
|
2 Bath
|
1215 ft²
|
$360,000
2 Bed
2 Bath
1215 ft²
|
$360,000
09/27/2019
|
Charles A Umstead
Chappell
| |
|
10/18/2018
|
2 Bed
|
2 Bath
|
1265 ft²
|
$375,000
2 Bed
2 Bath
1265 ft²
|
-
-
|
-
| |
|
02/05/2018
|
2 Bed
|
2 Bath
|
1265 ft²
|
$359,900
2 Bed
2 Bath
1265 ft²
|
$359,900
03/14/2018
|
Paula Walls
Howard Perry & Walston Realty
| |
|
08/25/2017
|
1 Bed
|
2 Bath
|
850 ft²
|
$230,000
1 Bed
2 Bath
850 ft²
|
$220,000
-4.35%
09/26/2017
|
Paula Walls
Howard Perry & Walston Realty
| |
|
05/08/2017
|
1 Bed
|
1 Bath
|
750 ft²
|
$216,900
1 Bed
1 Bath
750 ft²
|
$216,900
07/03/2017
|
Jane Phillips
Peak, Swirles & Cavallito
| |
|
11/10/2016
|
2 Bed
|
2 Bath
|
1265 ft²
|
$339,900
2 Bed
2 Bath
1265 ft²
|
$333,500
-1.88%
02/24/2017
|
Jane Phillips
Peak, Swirles & Cavallito
| |
|
07/29/2016
|
1 Bed
|
2 Bath
|
840 ft²
|
$245,000
1 Bed
2 Bath
840 ft²
|
$220,000
-10.20%
02/23/2017
|
Stacy Slone
West and Woodall Real Estate
| |
|
02/22/2015
|
1 Bed
|
2 Bath
|
840 ft²
|
$219,000
1 Bed
2 Bath
840 ft²
|
$209,000
-4.57%
04/21/2015
|
Mark A Stone
Keller Williams Preferred Realty
| |
|
12/08/2014
|
2 Bed
|
2 Bath
|
1265 ft²
|
$319,900
2 Bed
2 Bath
1265 ft²
|
$319,900
03/26/2015
|
Shahla Rezvani
Howard Perry & Walston Realtor
|
Building Info
About Durham
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Listed by: Charles A Umstead, Chappell
Last Updated: 2 years ago
Data Source: TMLS, MLS# 2274549
Last Updated: 2 years ago
Data Source: TMLS, MLS# 2274549
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