115 Morris St #2002DurhamNC27701
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Investment property for sale in Durham at 115 Morris St #2002, Durham, NC, 27701 listed at $1,179,900 pairs $3,487/mo rent with a $5,775/mo payment. Total monthly income runs $3,487/mo. Return on cash invested measures 8.74% in year one, and rental yield registers 3.55% at a $1,179,900 basis. Equity gained on principal adds $7,614/yr, and annual property appreciation at 5% supports $325,985 by year five. Five-year ROI tracks 42.75% and total cumulative return in cash totals $163,417. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $3,487/mo property income relative to a $5,775/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Condo
Built in 2024
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 27701, Durham, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 15,573 (100%) |
| Owner Occupied HU | 3,590 (23.1%) |
| Renter Occupied HU | 9,727 (62.5%) |
| Vacant Housing Units | 2,256 (14.5%) |
| Median Home Value | $541,162 |
| Average Home Value | $585,584 |
Housing Distribution
Address Breakdown
Residential
13,401
Single Family
8,169
Multi-Family
5,232
Businesses
1,288
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Listed by: Zuri Williams • Urban Durham Realty
Mls Name: Doorify MLS
Mls ID: #10126014