$650,000
↓ $15K (2.3%)
●
House -
For Sale
408 Gray Avenue
Durham, NC 27701
3 Beds
2 Baths
1,732 Ft²
Upcoming Open House
1PM - 3PM, Sun, Nov 1
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$3,763
Est. Monthly
About This Property
Own a little piece of Durham history with this updated 1922
bungalow. A rare find: this property includes a recently built ADU
with a full bedroom, bathroom, kitchen, and in-unit laundry. This
beautifully appointed space offers potential rental income, or a
private in-law dwelling. At the main house, you'll find wood floors
throughout, high ceilings, abundant natural light, and spacious
rooms. The primary suite features an epic walk-in closet. Outside
the classic front porch is the perfect spot for autumnal nights and
viewing the thoughtfully tended front garden full of pollinator
friendly native plants. The fully fenced yard adds privacy and a
great spot for your four-legged family members. Don't miss the
solar panels for energy efficiency and power bill savings. Last but
not least, this is the prime location for those among us who know
downtown Durham is the place to be in the Triangle if you're
seeking good food, vibrant culture, and tons to do. 408 Gray is
*less than one mile* away from the heart of the city.
Unit Size
1,732 Ft²
Days on Market
43 days
Land Size
0.14 acres
Price per sqft
$375
Property Type
House
Property Taxes
$571
HOA Dues
-
Year Built
1922
Listed By
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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 days ago (TMLS #10192016)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Oct 22, 2026 | Price Decreased |
$650,000
↓ $15K
(2.3%) | |
| Price Decreased | |||
| Oct 1, 2026 | Price Decreased |
$665,000
↓ $25K
(3.6%) | |
| Price Decreased | |||
| Sep 24, 2026 | Price Decreased |
$690,000
↓ $10K
(1.4%) | |
| Price Decreased | |||
| Sep 10, 2026 | Listed by Nest Realty of the Triangle | $700,000 | |
| Listed by Nest Realty of the Triangle | |||
| May 26, 2021 | Sold | ||
| Sold | |||
Show More
Property Highlights
Parking Available
Parking Details
Has Open Parking
Parking Features: Driveway, Gravel, On Street
Interior Details
Full Bathrooms: 2
Interior Features: In-Law Floorplan, Walk-In Closet(s), Apartment/Suite, Primary Downstairs, Walk-In Shower
Flooring Type: Concrete, Tile, Wood
Laundry Features: In Hall, In Unit, Multiple Locations
Rooms: 12
Exterior Details
Square Footage: 1732
Architectural Style: Bungalow
Year Built: 1922
Building Area Total: 1732
Levels: One
Construction Materials: Fiber Cement
Patio and Porch Features: Covered, Front Porch
Lot Size Area: 0.14
Lot Size Units: Acres
Lot Size Acres: 0.14
Lot Size Square Feet: 6098
Water Source: Public
Financial Details
Tax Map Number: 21
Tax Assessed Value: $673,798
Tax Annual Amount: $6,848
Utilities Details
Cooling Type: Heat Pump
Heating Type: Active Solar, Electric, Heat Pump
Sewer : Public Sewer
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Comparables
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Type
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Baths
ft²
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About Durham
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Listed by: Julia Newbold, Nest Realty of the Triangle
Last Updated: 2 days ago
Data Source: TMLS, MLS# 10192016
Last Updated: 2 days ago
Data Source: TMLS, MLS# 10192016
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