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About This Home
This 4-bedroom, 2-bathroom residential multi family at 1105 Morehead Avenue in Durham, NC is listed for $237,500 ($148 per sqft). Built in 1975, the home offers 1,600 sqft of living space on a 0.16 acres lot.
This duplex presents an opportunity to acquire an entry-level multifamily investment in Durham at a basis well below recent duplex sales in the surrounding market. New roof in 2024. The property features 2-bedroom units on each side. One unit is occupied at $735/month providing in-place income and the second unit vacant and ready for renovation and lease-up.
This tenant is on a month-to-month lease and originally occupied in 2022. Investors can improve the vacant side while offsetting carrying costs through existing rental income, creating a clear path to increased cash flow and long-term value through stabilization of both units. Projected market rents are $1150 per unit. Selling ''as is''
Key Features
- Built in 1975
- 0.16 acre lot
Property Details
Amenities
Monthly Cost Estimate
$1,270/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
1105 Morehead Avenue
Durham, NC 27707
Not in a Subdivision
Property Details
Flooring
Construction
Parking
Heating
Cooling
Questions & Answers
This 4-bedroom, 2-bathroom residential multi family at 1105 Morehead Avenue is listed at $237,500 ($148/sqft). The estimated monthly payment is $1,029 based on 20% down at 6.5% interest.
Key features include: Built in 1975, 0.16 acre lot.
This property is listed by Thomas Furlow and can be reached at 9194123913 or tfurlow@deaton.com.