$71,500
●
House -
Off Market
700 Drew Street
Durham, NC 27701
2 Beds
1 Bath
750 Ft²
$126,673
RealtyHop Estimate
68.90%
Since Sep 1, 2016
National-US
Primary Model
About This Property
This home combined with 701 Dowd (MLS 2043993) has potential gross
rents of $1625.00. The rents in this area are only going to
grow. Both homes have recently been renovated. This property
has to be sold with 701 Dowd Street. Both houses are built on a
single lot.
Unit Size
750 Ft²
Days on Market
-
Land Size
0.14 acres
Price per sqft
$100
Property Type
House
Property Taxes
-
HOA Dues
-
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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: 13 months ago (TMLS #2043992)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Nov 20, 2023 | Sold | ||
| Sold | |||
| Oct 4, 2023 | Listed by Calculus Commercial | $339,000 | |
| Listed by Calculus Commercial | |||
| | |||
|
Unique Multifamily property in Downtown Durham. Two detached 730 sq ft homes on a single parcel, 701Dowd-700 Drew. 2 bd/1ba floorplans. Great invetment properties that can be renovated/ possibly divided or function as an income generating asset in current condition. Both properties must be sold together, . 701 Dowd Street available for a tour with acceptable offer.
| |||
| Sep 21, 2018 | Sold | ||
| Sold | |||
| Aug 14, 2018 | No longer available | - | |
| No longer available | |||
| Jul 15, 2018 | Listed | $139,000 | |
| Listed | |||
| | |||
|
What?!? A two-bed one-bath house in super-hot downtown Durham for only $139K? Surrounded by houses in the $350-450K range. Recently renovated and currently rented at a useful $795, Wait, what?!? There’s another house next door, for sale, at the same ridiculous price of $139K? What’s the catch? both on one parcel. Divide it? Reconfigure it? Whoever figures out how to Whoever figures out how to maximize value here will have themselves a nice chunk of downtown Durham. Kevin Fairfax @ 919-235-5216 The manager has listed the unit size as 756 square feet.
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Property Highlights
Parking Available
Air Conditioning
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About Durham
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Currently no similar homes aroundNearby Rentals
Listed by: Michael Templeton, West & Woodall Real Estate - D
Last Updated: 13 months ago
Data Source: TMLS, MLS# 2043992
Last Updated: 13 months ago
Data Source: TMLS, MLS# 2043992
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