EB
Ed Billings
Photos
1 / 61
$1,405,000
Sold!2209-2211 Morehead Avenue, Durham, NC 27707
22
Beds
13
Baths
9,148
SqFt
Sold!
Status
$154
Price/SqFt
293
Days Listed
Ed Billings
Investor Opportunity - Renovated MF Near Duke | 6.75 Cap | Stable Rents | 9 Units 2 Buildings with 9 units less than 1 mile from Duke University and Downtown Durham, offering strong in-place cash flow and a 6.75% cap rate. Unit mix includes rare 3BR/2BA and 2BR/1BA layouts that attract long-term tenants seeking single-family alternatives. Recent upgrades: new roof, HVAC system upgrades in some units, drainage improvements, modernized kitchens/baths in various units, and selective interior renovations (hardwoods, appliances, reconfigured closets). Additional Low turnover, proven rental history, and walkable yet private setting. Ideal for investors seeking stable performance with value-add levers.
Year Built
1960
Lot Size
1.01 acres
Property Type
Apartment
Heating
Central
Cooling
Central Air
Sewer
Public Sewer
Water
Public
Apr 1, 2026
Just Listed (New Listing)
Apr 4, 2026
Pending (Status Change)
May 15, 2026
Sold! (Status Change)
May 2026 rolling 30-day data
Median List Price
$485,000
This home is 190% above median
Avg Days on Market
43
This home: 293 days (+250)
Sale-to-List Ratio
98.4%
Homes Sold (30d)
20
Active Listings
32
Median Sale Price
$424,250
$7,001/mo
30-year fixed estimate
Estimate only. Does not include taxes or insurance.
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