1501 Lathrop StDurhamNC27703
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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 1501 Lathrop St, Durham, NC, 27703 offers a 8.55% rental yield on a $225,000 purchase with $1,604/mo rent. Total monthly income registers $1,604/mo, and a $1,101/mo payment leaves $233/mo available for distribution. Annual cash flow reaches $2,796/yr on $74,588 to close, and return on cash invested stands at 23.66% in year one. Equity gained on principal adds $1,452/yr while 5% annual appreciation supports $62,163 over five years. Portfolio math shows five-year ROI at 122.8% and total cumulative return in cash at $91,593. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,604/mo property income against a $1,101/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Multi Family
Built in 1930
6,534 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 27703, Durham, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 32,213 (100%) |
| Owner Occupied HU | 18,977 (58.9%) |
| Renter Occupied HU | 10,683 (33.2%) |
| Vacant Housing Units | 2,553 ( 7.9%) |
| Median Home Value | $393,167 |
| Average Home Value | $416,186 |
Housing Distribution
Address Breakdown
Residential
29,548
Single Family
23,958
Multi-Family
5,590
Businesses
1,525
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Listed by: Charles Bulthuis • Reformation Asset Management
Mls Name: Doorify MLS
Mls ID: #10132187