3207 Alsey Place
About This Property
Tucked away on a low-traffic street, this spacious ranch is situated on two parcels totaling approximately .66 acres.
Inside, the home features high ceilings with hardwood floors in the foyer, living room, dining room, and hallway,
The spacious living room features a fireplace and large windows with the adjacent dining area providing a great flow for entertaining or daily living. The kitchen offers white cabinets, granite countertops, and a tile backsplash, along with stainless steel appliances including refrigerator and microwave.
Updates to this home in 2026 include interior paint, exterior stain, new carpet in the bedrooms, new flooring in the bathrooms, new light fixtures and window blinds. The water heater was updated in 2025, AC in 2024, and the house roof in 2017.
Outdoor living is a highlight of this property. A spacious 42-foot deck provides plenty of room for grilling, relaxing, or entertaining while overlooking the expansive yard. The detached garage/workshop is ideal for hobbies, storage, or a dedicated workspace separate from the home.
This home's location is just minutes from shopping, restaurants, and entertainment, with easy access to Duke University, DPAC, and major highways for getting anywhere in the Triangle. Nearby dining and shopping options include local favorites such as Foster's Market, Guglhupf Bakery & Restaurant, Namu, and The Original Q Shack, along with popular retail destinations like Target, Sam's Club, Harris Teeter, and University Hill.
A rare find in the heart of Durham - make sure you see this home ASAP !
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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.
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017