When was property at 305 Rainbow Way built and last sold?

The property at 305 Rainbow Way was built in 1948 and last sold on Oct 6, 2022 for $291,000.

How much is this home worth?

The estimated value of the home located at 305 Rainbow Way is $296,046.

What are some comparable homes to 305 Rainbow Way?

There are currently no comparable homes to 305 Rainbow Way.

Durham

27707

305 Rainbow Way

$302,000

● House - Off Market

305 Rainbow Way

Durham, NC 27707

2 Beds

1 Bath

700 Ft²

$1,651

Est. Monthly

5.59%

Cap Rate

About This Property

Adorable 2 bed, 1 bath bungalow in the heart of Durham! Fresh paint, hardwoods throughout, large fenced in yard, solid surface countertops, all appliances convey! Super convenient to restaurants, shops and Downtown Durham!

Unit Size

700 Ft²

Days on Market

Land Size

0.19 acres

Price per sqft

$428

Property Type

House

Property Taxes

$178

HOA Dues

Year Built

1948

Payment Calculator

Cap Rate Calculator

Last updated: 2 years ago (TMLS #10059457)

Price History

Date / Event	Date	Event
Dec 30, 2024	Sold	Premium
Sold
Dec 12, 2024	In contract	-
In contract
Nov 30, 2024	Price Decreased	$299,900 ↓ $20K (6.3%)
Price Decreased
Nov 16, 2024	Relisted	$319,900
Relisted
Nov 15, 2024	No longer available	-
No longer available
Oct 21, 2024	Listed by Massey Real Estate, LLC	$319,900
Listed by Massey Real Estate, LLC
Dec 15, 2023	No longer available	-
No longer available
Nov 18, 2023	Listed by Massey Real Estate, LLC	$299,900
Listed by Massey Real Estate, LLC

	Fantastic Investment Property! Rented for $1400 p/mo and tenant would like to stay! Super cute bungalow in the Rockwood neighborhood! Close to restaurants, shops and grocery store! Large fenced in back yard, vinyl siding and hardwoods in living areas. All appliances convey! The manager has listed the unit size as 700 square feet.
Oct 12, 2022	Sold	Premium
Sold
Sep 9, 2022	Listed by Massey Real Estate, LLC	$280,000
Listed by Massey Real Estate, LLC
Jan 4, 2017	Sold	Premium
Sold

Property Highlights

Air Conditioning

Building Info

Overview

General

Year Built: 1948

Effective Year Built: 1948
Total Rooms: 4
Bedroom Count: 2
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: 18
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: 8,276

Lot Size Depth Feet: 1,640
Lot Size Frontage Feet: 500
Total Building Area: 700
Building Area: 700
Building Area Measurement: E

Heating and Cooling

Air Conditioning: 13

Heating: 24
Heated Square Feet: 700
Heating Fuel Type: 0

Utilities

Sewer System: 1

Water Service: 0

Building

Building Type: 0

Property Class: R
Subdivision: ROCKWOOD
Land Acres: 0000000190
Standard Land Use Code: 1001
County Land Use Code: 111
Legal Description 1: ROCKWOOD/BLK:A/LT#12 PL000009-000113

Neighborhood

School District Name: Durham Public Schools

School Tax District Code 2: CTY DURHAM
Census Tract: 000600

Zoning

Zoning: RU-5(2)

Geography

Assessors Map Reference: BK 9 PG 113

Subdivision Tract Number: 3
Parcel: 107682
Block: A
Lot: 12
Municipality: CITY OF DURHAM
Latitude: 35.976
Longitude: -78.9248

Address

Full Address: 305 Rainbow Way

Address - House Number: 305
Address - Street Name: Rainbow
Address - Suffix Type: Way
State: NC
City Name: Durham
Carrier Code: C009
4-Digit Zip Code: 2105
Zip Code: 27707

Valuation

Tax

Tax Year: 2023

Tax Amount: $231,297

Appraisal Valuation

Standard Deviation: 0.0817

Valuation Date: Dec 20, 2023
Confidence Score: 93
Final Value: 305,220
High Value: 330,167
Low Value: 280,272

Open Liens

Total Open Liens:

Premium

Total Open Liens Amount:

Premium
First Open Lien Mortgage Lender:

Premium
First Open Lien Mortgage Recording Date:

Premium
First Open Lien Mortgage Loan Amount:

Premium
First Open Lien Mortgage Term:

Premium
First Open Lien Mortgage Position:

Premium
First Open Lien Mortgage Loan Type:

Premium

Market Valuation

Market Total Value: $176,456

Market Land Value: $47,480
Market Improvement Value: $128,976

Assessments Valuation

Assessed Year: 2023

Assessed Total Value: $176,456
Assessed Land Value: $47,480
Assessed Improvements Value: $128,976

Sales

Current Sale Contract Date: Oct 06, 2022

Current Sale Recording Date: Oct 12, 2022
Current Sale Price:

Premium
Current Sale Document Type: 71
Current Sale Input Document Number: 39870
Previous Sale Recording Date: Jan 04, 2017
Previous Sale Contract Date: Jan 03, 2017
Previous Sale Amount: $115,000
Previous Sale Document Type: 71

Previous Mortgages

Previous Mortgage Lender:

Premium

Previous Mortgage Transaction Date:

Premium
Previous Mortgage Loan Amount:

Premium
Previous Mortgage Loan Type:

Premium
Previous Mortgage Loan Due Date:

Premium

Data used for valuation calculations is provided by RealtyHop, and other third party sources

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Comparables

About Durham

Stats & Trends

Median Asking:

$415,000

Sale Price/ft²

$234

Below Asking

0.02%

Average Days on Market

Average Home Size

1911 ft²

Average Home Age

31.3 years

Currently For Sale

1100 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 915-a Exum Street, Durham, NC, 27701

$1,500 /mo

1 Bed
1 Bath

915-a Exum Street #A, Durham, NC, 27701 Listing by Leslie Page

Unit for rent at 701 Grant Street, Durham, NC, 27701

$1,645 /mo

3 Beds
2 Baths
1,145 ft²

701 Grant Street #A, Durham, NC, 27701 Listing by Michael Sullivan

Unit for rent at 800 Fargo Street, Durham, NC, 27707

$1,560 /mo

2 Beds
1 Bath

800 Fargo Street #E3, Durham, NC, 27707 Listing by Anne Bierman

Rentals Near You

Click here to view more rentals in the neighborhood.

Listed by: Emily B Massey, Massey Real Estate, LLC
Last Updated: 2 years ago
Data Source: TMLS, MLS# 10059457

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.

305 Rainbow Way

About This Property

Price History

Property Highlights

Building Info

Overview

Building

Neighborhood

Zoning

Geography

Valuation

Comparables

About Durham

Stats & Trends

Similar Homes for Sale

Nearby Rentals

Frequently Asked Questions