$65,000
↓ $10K (9.2%)
●
Land -
Off Market
413 N Hoover Road
Durham, NC 27703
Studio
0 Bath
$413
Est. Monthly
About This Property
Great residential 0.59 acre lot zoned RS-20 that can accommodate a
duplex or a primary residence and an Accessory Dwelling Unit.
Water, sewer and electric available at the street.
Convenient to downtown Durham, RTP and RDU. New homes
recently built on adjacent lots. Just down the street from
the new Merrick-Moore Park which features several soccer fields.
Ten minutes to downtown Durham. Build a great home and
get income from an ADU. Great income potential from a duplex.
Lots of options on a lot of this size. Located within
the City of Durham.
Unit Size
-
Days on Market
-
Land Size
0.59 acres
Price per sqft
-
Property Type
Land
Property Taxes
$20
HOA Dues
-
Year Built
-
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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 years ago (TMLS #10008882)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jun 15, 2025 | Price Decreased |
$99,900
↓ $10K
(9.2%) | |
| Price Decreased | |||
| Apr 16, 2025 | Listed | $110,000 | |
| Listed | |||
| | |||
|
Great residential 0.47-acre lot zoned RS-20, potentially suitable for building a multifamily home (please contact the City of Durham to confirm) or a primary residence. City water and sewer are available at the street. Very convenient to downtown Durham, RTP, and RDU. Great income potential for investors .
| |||
| Aug 9, 2024 | Sold | ||
| Sold | |||
| Jan 31, 2024 | Listed by Coldwell Banker HPW | $80,000 | |
| Listed by Coldwell Banker HPW | |||
| Oct 7, 2016 | Sold | ||
| Sold | |||
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Property Highlights
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Comparables
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About Durham
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Listed by: Tim Mock, Coldwell Banker HPW
Last Updated: 2 years ago
Data Source: TMLS, MLS# 10008882
Last Updated: 2 years ago
Data Source: TMLS, MLS# 10008882
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