This single-family home is located 6 minutes for Downtown Durham (DPAC, Ball park, breweries, and more). If you’re looking for your next rehab project, look no further!
Built 1924
1710 Sqft
4 beds 2.5 baths
0.178 Acres
3 ways to look at this deal:
– Rehab – Rehabs on the street/area are selling for $200 to $237/sqft. This is a great opportunity for a jaw-dropping HGTV makeover. $500k homes selling around the corner!
– Rental – Plant your roots in this new up and coming neighborhood. Rent rate for 4 bd/renovated home is $2000/mo+. Great opportunity to play the cash flow and appreciation game! Look at that, maybe you can have your cake and eat it too 😉
– New Build – Take advantage of the great comps on the street and in the area, with what feels like a new house being built every month. A beautiful brand new home could be built on this lot, and the market would support it. Ride the builder wave and become part of the history of the area.
Things to Consider about East Durham:
– Downtown Durham is becoming very expensive for folks looking for a home relative to the size of the house and the lots; East Durham is the next neighborhood over, making it much more desirable for people looking for a home.
– Although just minutes from Downtown Durham, East Durham is great for easy access to RTP and Raleigh. With easy access to Hwy 147, Hwy 70, Hwy 55, Hwy 98 and East End Connector.
– City of Durham is spending lots of money and time in developing out their 5 year plan, especially within this part of the city (drive around). From widening streets to create new highway stops, all in an effort to respond to the influx of people to scheduled to populate East Durham
– Many of the houses on Spruce Street have either been renovated or newly built
– This property has a wonderful and big backyard; hard to find a yard like this within the downtown urban tier