1608 Fayetteville Street

1608 Fayetteville Street

RARE TURNKEY INVESTMENT OPPORTUNITY! Own The Dr. Charles H. Shepard House, a distinguished 6BR/3BA property in Durham's Fayetteville Street Local Historic District, completely renovated with recent capital improvements and ready to generate income from DAY ONE. PROVEN INCOME MODEL - $62,000+ ANNUAL POTENTIAL: This property has demonstrated strong rental performance with rates of $715-$1,050 per room serving working professionals and graduate students. Perfect for serious investors seeking immediate cash flow or house-hackers wanting to offset their mortgage significantly. The property's unique configuration and premium location near NCCU command rental rates that traditional properties simply cannot match. INVESTMENT HIGHLIGHTS & FINANCIAL PERFORMANCE AVAILABLE UPON REQUEST. Diversified income stream across multiple units reduces vacancy risk. Strategic location near NCCU, Duke, & Research Triangle ensures consistent rental demand. Detailed Income Capitalization Analysis available showing strong NOI & cap rate performance. UPDATED & MOVE-IN READY - NO DEFERRED MAINTENANCE: Over $28,000 in strategic capital improvements means this property requires ZERO immediate repairs or updates. Every major system has been modernized or replaced (2022-2025), giving peace of mind & eliminating the typical risks of historic property ownership. MAJOR SYSTEMS & STRUCTURAL IMPROVEMENTS: Complete HVAC ductwork replacement throughout entire property (2023-2024) - improved climate control & energy efficiency for all 6 bedrooms. 40 ft. of retaining wall professionally rebuilt with engineered drainage system - restored structural integrity and proper grading 75-gallon gas water heater with expansion tank 11/25. Basement stairs section replaced for safety and code compliance. EXTERIOR IMPROVEMENTS - ENHANCED CURB APPEAL & FUNCTIONALITY- Expanded private off-street parking pad - valuable amenity for multi-tenant operation. New gutters and soffit repairs installed - complete weather protection system. Flat roof over porch re-tarred - prevents water damage and extends roof life. Non-functioning chimney safely demolished - eliminates structural liability. Rear entry steps repaired - safe access and improved functionality. Crawl space door replaced - proper moisture control and pest prevention. Interior updates to include fresh paint throughout- neutral colors. Strategic vinyl window replacements in bathroom - improved energy efficiency. New ceiling fans installed throughout - enhanced comfort and lower utility costs Upgraded bathroom ventilation fans - improved air quality and moisture control Replaced downdraft vent - modern, functional kitchen ventilation. Fireplace professionally serviced 11/25.KITCHEN MODERNIZATION (2020).Beautiful granite countertops. Complete SS appliance package. Functional layout perfect for shared living or family use. HISTORIC CHARM MEETS MODERN SYSTEMS: This property seamlessly blends authentic period features with contemporary comfort and convenience. Preserved original hardwood floors flow through the home, complemented by a stunning grand double staircase that serves as the architectural centerpiece. The cozy den features gas fireplace, Perfect for relaxation or entertaining. The large laundry room accommodates the TWO WASHERS and TWO DRYERS that convey with the property - a valuable feature for multi-tenant operations or large families. UNBEATABLE LOCATION & STRONG MARKET FUNDAMENTALS: Situated in an established Durham neighborhood with proven rental demand, this property offers the perfect combination of privacy and accessibility. Minutes to NCCU, Duke University, and downtown Durham means your tenants enjoy easy access to major employment centers, universities, and urban amenities. The American Tobacco Trail is just 5 blocks away, providing recreational opportunities that enhance property appeal. The surrounding area continues to see appreciation and development, positioning this property for long-term value growth.