304 Spring StDurhamNC27703
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThe cash-flow margin at 304 Spring St, Durham, NC, 27703 in Durham is narrow, $196/mo net on $2,058/mo rent after the $1,374/mo debt service, but the property operates at break-even-plus, not a loss. At $305,500 with a 8.08% yield, the long-run equity case via 5% appreciation ($84,404 over five years) and $2,814/yr in principal paydown is where the returns accumulate. Ziffy Mortgage's 1.50 DSCR loan requires no W-2s or U.S. credit. Total projected cumulative return: $128,362.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.1% | 6.2% |
| Monthly Cash Flow | $196 | $350 |
City averages based on Durham market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,058 |
| Total Monthly Debt Service | $1,740 |
| DSCR Ratio | 1.18x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1940
8,712 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Single Family
Built in 1940
8,712 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Oscar Corrales • The Insight Group
Mls Name: Doorify MLS
Mls ID: #10108846