602 Gray Avenue
About This Property
Welcome to 602 Gray Avenue - Where modern design meets Bull City charm in this fully rebuilt 3 bed, 2 bath bungalow located just blocks from downtown Durham. Priced $30,000 below market, this home is an unbeatable opportunity for buyers looking for style, function, and location.
Charming, Reimagined Bungalow in the Heart of Durham!
Beautifully rebuilt 3-bedroom, 2-bath bungalow that blends timeless character with fresh, modern updates. Completely reconstructed from the foundation up in 2023, this single-level home features a newer roof, new HVAC, and quality craftsmanship throughout.
Inside, you'll find an open-concept layout with warm, wood-style flooring and abundant natural light. The show stopping kitchen is anchored by sleek marble countertops, an oversized center island, stainless steel appliances, gas range, and custom herringbone tile backsplash - ideal for cooking, gathering, and everyday living.
Each of the three spacious rooms offers versatility, with one currently styled as a chic home office featuring custom wall accents. Both full bathrooms are updated with granite countertops and elegant fixtures, creating a spa-like experience at home.
Out front, enjoy morning coffee on the wide, covered porch or take in the view from the back deck. Enjoy space to garden, entertain, or simply relax under the trees. The extended side patio offers even more outdoor potential.
Perfectly positioned near the energy of Downtown Durham - close to farmers markets, the historic Carolina Theatre, DPAC, Durham Bulls Ballpark, museums, restaurants, hotels, and Duke University - this home offers the ultimate mix of comfort, convenience, and charm.
602 Gray Ave is truly move-in ready and designed for modern living in one of Durham's most dynamic communities.
Don't miss your chance to own a move-in-ready gem in the heart of Durham's most dynamic neighborhood.
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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