202 Allen Street #A/B new to site Save Request In-Person Tour Request Virtual Tour
Creedmoor,NC 27522
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,476 sqft
Price per Sqft $157
Subdivision Not In A Subdivision
MLS Listing ID 10086707
Bedrooms 6
Full Baths 2
Half Baths 2
Year Built 2003
Annual Tax Amount $4,279
Lot Size 0.510 Acres
Property Sub-Type Duplex
Property Description
ATTENTION INVESTORS! Rare Duplex (1of 5 being offered by this seller) in Creedmoor at an in place Cap Rate of 7.2% based on current rents and 2024 taxes and insurance numbers assuming a owner operated cash purchase. Creedmoor is a convenient small town to live in close to everything in downtown or a quick drive down HWY 50 to North Raleigh or out to HWY 85 and over to Durham or Chapel Hill. Being offered 100% occupied with substantially below market rents. New owners could do minor CAP X improvements like flooring and paint and push rents, or remodel the kitchen and bathrooms as well and push rents even higher and realize up to a 9.8% cap rate at the market rent of $1795 per side (estimate) fully upgraded. The current owners have made significant upgrades over the last 5 yeas with over $30K in renovations including refinished decks 2024, new Paint and LVP downstairs and new carpet upstairs in 202 A in 2022. New HVAC systems, both unit in 2020 and some new appliances. Off-street parking adds extra value, making it even more convenient for residents. Additionally, with no HOA, you save on monthly expenses and retain full control over the property. This property boasts a proven track record and excellent rental history, making it an ideal opportunity for savvy investors.
Location
State NC
County Wake
Interior
Heating Electric
Cooling Electric
Flooring Carpet,Vinyl,Tile
Exterior
View Y/N Yes
Roof Type Shingle
Building
Story 2
Foundation Other
Sewer Public Sewer
Water Public
Structure Type Vinyl Siding
New Construction No
Schools
Elementary Schools Granville - Mount Energy
Middle Schools Granville - Hawley
High Schools Granville - S Granville
Others
Special Listing Condition Standard