202 Allen Street
Creedmoor, NC 27522ATTENTION 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.
$389,900
6 bedrooms
2 full, 2 half
bathrooms
0.51 acres
2,476 square feet
$157 per square foot
Additional Property Information
- TypeDuplex
- Built2003
- NeighborhoodNot in a Subdivision
- CountyWake
- AreaCreedmoor
- Elementary SchoolGranville - Mount Energy
- Middle SchoolGranville - Hawley
- High SchoolGranville - S Granville
Listing courtesy of Keller Williams Elite Realty. © 2024 Triangle MLS, Inc. of North Carolina. All Rights Reserved. Information deemed reliable but not guaranteed.
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Find your amount- Exterior Features
- Interior Features
- Property Features
- Construction Materials Vinyl Siding
- Lot Size Acres 0.51
- Patio And Porch Features Porch, Front Porch, Deck
- Above Grade Finished Area 2,476
- Basement Crawl Space
- Cooling Electric
- Cooling Y/N Yes
- Flooring Tile, Vinyl, Carpet
- Heating Electric
- Heating Y/N Yes
- Rooms Total 14
- Tax Annual Amount 4279.55
- Water Source Public
- Year Built 2003
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