$109,000
●
Land -
Off Market
3226, 3228 Rowena Ave
Durham, NC 27703
Studio
0 Bath
$585
Est. Monthly
About This Property
HUGE PRICE ADJUSTMENT! HURRY TO GRAB!
SELLER FINANCING AVAILABLE!!
Double-build opportunity on two flag lots totaling to almost an acre (0.5933ac- 3226A Rowena; and 0.3294ac- 3228A Rowena). See buildable area in the drawing from city of Durham and analysis. This is RU-5 zoning, infill standards are applicable, can build up to 3 stories (40Ft) height. Setbacks: not subject to infill street yard regs and revised to 5' for ALL flag lot property lines with the UDO revisions that came effective Jan 1st of this year. No restrictions. Convenient commute to Duke, NCCU and RTP. Rolling topography. Per FEMA FIRM No. K, dated October 19, 2018, the lots are not in a flood hazard area.
Seller will consider a trade of these two beautiful lots for any Philip Patek watch from Nautilus series, or for a Ferrari Roma or Portofino with difference in price to be settled in cash. Seller open to other trade options, so feel free to propose an item that you think might be of interest to the seller.
SELLER FINANCING AVAILABLE!!
Double-build opportunity on two flag lots totaling to almost an acre (0.5933ac- 3226A Rowena; and 0.3294ac- 3228A Rowena). See buildable area in the drawing from city of Durham and analysis. This is RU-5 zoning, infill standards are applicable, can build up to 3 stories (40Ft) height. Setbacks: not subject to infill street yard regs and revised to 5' for ALL flag lot property lines with the UDO revisions that came effective Jan 1st of this year. No restrictions. Convenient commute to Duke, NCCU and RTP. Rolling topography. Per FEMA FIRM No. K, dated October 19, 2018, the lots are not in a flood hazard area.
Seller will consider a trade of these two beautiful lots for any Philip Patek watch from Nautilus series, or for a Ferrari Roma or Portofino with difference in price to be settled in cash. Seller open to other trade options, so feel free to propose an item that you think might be of interest to the seller.
Unit Size
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Days on Market
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Land Size
0.92 acres
Price per sqft
-
Property Type
Land
Property Taxes
$49
HOA Dues
-
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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 #10062674)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Mar 5, 2025 | Sold | ||
| Sold | |||
| Feb 19, 2025 | In contract | - | |
| In contract | |||
| Feb 18, 2025 | Price Decreased |
$109,000
↓ $71K
(39.4%) | |
| Price Decreased | |||
| Nov 8, 2024 | Listed by Engel & Volkers Raleigh | $180,000 | |
| Listed by Engel & Volkers Raleigh | |||
| Dec 28, 2023 | No longer available | - | |
| No longer available | |||
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Building Info
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: Elena Sergeevna Stoyanova, Engel & Volkers Raleigh
Last Updated: 2 years ago
Data Source: TMLS, MLS# 10062674
Last Updated: 2 years ago
Data Source: TMLS, MLS# 10062674
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