202 Allen Street, Unit AB
Creedmoor, NC 27522
$461,000
Price
6
Beds
2
Baths
2
1/2 Baths
2,050 Sq. Ft.
$225 / Sq. Ft.
2,050
Sq. Ft.
$225
per Sq. Ft.
Description
Investor special with huge Value Add potential! Current owner has long term tenants with below market rents in high growth areas. A new owner can realize a significant upside and could reach a 7.25 prent Cap rate with small investment on items like new flooring and paint and bringing the units up to current market rates estimated to be $1,795. Tenant's pay all utilities and there is no HOA. This income producing duplex is part of a portfolio of 6 buildings which include 12 leased units. 202 Allen...Investor special with huge Value Add potential! Current owner has long term tenants with below market rents in high growth areas. A new owner can realize a significant upside and could reach a 7.25 prent Cap rate with small investment on items like new flooring and paint and bringing the units up to current market rates estimated to be $1,795. Tenant's pay all utilities and there is no HOA. This income producing duplex is part of a portfolio of 6 buildings which include 12 leased units. 202 Allen St includes Unit A & B, each features 3 beds 1.5 baths each and a total of 2,500 square feet . This property can only be sold as part of the portfolio listed at $2,695,000.00 with a 6 prcnt Cap rate. Buildings sold as part of this portfolio are listed under the following MLS numbers: 10054486 , 10054497, 10054505, 10054514, 10054522
Creedmoor, NC, is a charming small town in Granville County experiencing steady growth due to its proximity to major metropolitan areas like Raleigh and Durham, both just a 22-minute drive away. It's conveniently located near I-85, Hwy 50, and Hwy 98, with additional benefits from the completion of I-885, enhancing connectivity to the region. Known for its peaceful atmosphere and affordable living, Creedmoor is attracting individuals seeking suburban comfort with easy access to urban amenities. The town benefits from steady employment opportunities in nearby Research Triangle Park and the greater Raleigh-Durham area, driving local job growth. Creedmoor's tight-knit community and scenic surroundings make it a desirable place to live while staying connected to the Triangle's economic hub. Investing in income-producing duplexes is a smart move, especially in today's market. Duplexes offer the unique advantage of generating rental income from two units on a single property, increasing your cash flow potential. As demand for affordable housing continues to rise, particularly in growing markets like the Triangle, duplexes appeal to both tenants and investors due to their affordability and versatility. Please no tours as tenants do not want property shown. Tours by appointment only. Do not knock on the doors of these units.
Creedmoor, NC, is a charming small town in Granville County experiencing steady growth due to its proximity to major metropolitan areas like Raleigh and Durham, both just a 22-minute drive away. It's conveniently located near I-85, Hwy 50, and Hwy 98, with additional benefits from the completion of I-885, enhancing connectivity to the region. Known for its peaceful atmosphere and affordable living, Creedmoor is attracting individuals seeking suburban comfort with easy access to urban amenities. The town benefits from steady employment opportunities in nearby Research Triangle Park and the greater Raleigh-Durham area, driving local job growth. Creedmoor's tight-knit community and scenic surroundings make it a desirable place to live while staying connected to the Triangle's economic hub. Investing in income-producing duplexes is a smart move, especially in today's market. Duplexes offer the unique advantage of generating rental income from two units on a single property, increasing your cash flow potential. As demand for affordable housing continues to rise, particularly in growing markets like the Triangle, duplexes appeal to both tenants and investors due to their affordability and versatility. Please no tours as tenants do not want property shown. Tours by appointment only. Do not knock on the doors of these units.
- Listed by Paulina Bohorquez • Keller Williams Realty
Property Details for 202 Allen Street, Unit AB
View
Yes
SubdivisionDutchville
LISTING UPDATED: 11/23/2024 01:07 PM
Property Details for 202 Allen Street, Unit AB
| Status | Active |
|---|---|
| MLS # | 10054463 |
| Days on Market | 64 |
| Taxes | $4,280 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income / Duplex |
| Year Built | 2003 |
| Lot Size | 0.51 AC / 22,215 SF |
| County | Granville County |
Building Information for 202 Allen Street, Unit AB
Stories2Residences2Year Built2003Building Size-Lot Size0.51 AC / 22,215 SF
Property Information for 202 Allen Street, Unit AB
Summary
Location and General Information
- Directions: 1.5 Miles from Downtown Creedmoor .1 miles from E Wilton Ave turn Lt to N Main St southbound onto Park Ave .6 miles, Rt onto Cozart ST .6 miles, Rt onto Access Rd Property the first driveway past Allen St on the map 6.8 miles from I85 Rt onto Hwy 15 N to Hwy 56 E bound Rt onto S Main St .6 miles, Rt onto Cozart ST .6 miles, Rt onto Access Rd Property the first driveway past Allen St on the map 21 minutes N of Durham NC I85 N to Hwy 15 15.9 miles Rt onto Hwy 15 15.5 miles N to Hwy 56 E bound Rt onto W Lake Rd .5 miles Rt onto S Main St 154 ft turn Lt onto Park Ave .2 miles turn Rt onto Cozart St .2 Left onto Watson St .1 mil on the Rt Property the first driveway past Allen St on the map
- Subdivision Name: Dutchville
- Latitude: 36.117687
- Longitude: -78.680428
Taxes and HOA Information
- Association: No
- Tax Annual Amount: $4,279.55
- City Limits Of: Creedmoor
- City Limits YN: Yes
- Lot Number: 2
- Restrictive Covenants YN: No
- School District Link: Granville County Schools https://www.gcs.k12.nc.us/
Contract Information
- Lease Expiration Date: 2025-09-30
- Original MLS: Triangle MLS Inc
- Property Leased YN: Yes
School Information
- Elementary School: Granville - Creedmoor
- Middle Or Junior School: Granville - Hawley
- High School: Granville - S Granville
Parking
- Open Parking: Yes
- Parking Features: Driveway, Gravel
- Carport: No
- Attached Garage: No
- Garage: No
Property
Lot Information
- Building Area Total: 2050.0
- Architectural Style: Transitional
- Total Other Area Sq Ft: 0
- Other Structures: Storage
- Parcel Number: 089618414846
- Structure Type: Duplex
- Enhanced Accessible: No
Property and Assessments
- New Construction: No
- Photos Count: 14
- Below Grade Finished Area: 0.0
- Below Grade Finished Area Units: Square Feet
- Common Walls: 1 Common Wall
- Community Features: None
- Senior Community: No
Utilities
- Sewer: Public Sewer
- Utilities: Cable Connected, Electricity Connected, Sewer Connected, Water Connected
- Water Source: Public
- Water_Sewer: Public, Public Sewer, Cable Connected, Electricity Connected, Sewer Connected, Water Connected
Interior and Exterior Features
Exterior Features
- Construction Materials: Vinyl Siding
- Exterior Features: Private Entrance
- Fencing: None
- Foundation Details: Block
- Patio And Porch Features: Deck, Front Porch
- Pool Features: None
- Pool Private: No
- Roof: Shingle
- New Construction Type: Vinyl Siding, Duplex
Interior Features
- Levels: Two
- Stories: 2
- Fireplace Y N: No
- Flooring: Carpet, Vinyl
- Cooling: Central Air
- Cooling?: Yes
- Heating: Central, Electric
- Heating?: Yes
- Appliances: Dishwasher, Range, Refrigerator
- Laundry Features: Electric Dryer Hookup, Washer Hookup
- Spa: No
- Equipment Appliances: Dishwasher, Range, Refrigerator
- Interior: Cable Connected, Electricity Connected, Sewer Connected, Water Connected, Driveway, Gravel, Vinyl Siding, Electric Dryer Hookup, Washer Hookup
- Equipment: Dishwasher, Range, Refrigerator, Electric Dryer Hookup, Washer Hookup, Driveway, Gravel
- Additional Equipment: None
Multi Family
Unit Information
- Total Units: 2
Agent
Sale and Listing
- Property Class Name: CrossProperty
Rental
Rental Information
- Lease Term: 12 Months
- TenantPays: All Utilities, Exterior Maintenance
Units Information
Unit One
- Unit One: Actual Rent: 1499.0
- Unit One: Baths Total: 2.0
- Unit One: Beds Total: 3.0
- Unit One: Deck: true
- Unit One: Dishwasher: true
- Unit One: Garage Attached YN: false
- Unit One: Kitchen: true
- Unit One: Levels: Two
- Unit One: Living Area: 1250.0
- Unit One: Living Room: true
- Unit One: Range: true
- Unit One: Refrigerator: true
- Unit One: Unit Type Pro Forma: 1795
- Unit One: Unit Type: 3 Bedroom
- Unit One: Units Total: 2.0
- Unit One: WasherDryer Hookups: true
Unit Two
- Unit Two: Above Grade Finished Area: 1250.0
- Unit Two: Actual Rent: 1300.0
- Unit Two: Baths Total: 2.0
- Unit Two: Beds Total: 3.0
- Unit Two: Deck: true
- Unit Two: Dishwasher: true
- Unit Two: Garage Attached YN: false
- Unit Two: Kitchen: true
- Unit Two: Levels: Two
- Unit Two: Living Room: true
- Unit Two: Range: true
- Unit Two: Refrigerator: true
- Unit Two: Unit Type Pro Forma: 1795
- Unit Two: Unit Type: 3 Bedroom
- Unit Two: Units Total: 2.0
- Unit Two: WasherDryer Hookups: true
Unit Three
- Unit Three: Actual Rent: 0.0
Unit Four
- Unit Four: Actual Rent: 0.0
Property History for 202 Allen Street, Unit AB
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Schools near 202 Allen Street, Unit AB
This home is within Granville County School District.
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | PK to 5 |
Rating | School | Distance |
|---|---|---|
Mount Energy Elementary PublicPK to 5 | ||
G C Hawley Middle Public6 to 8 | ||
South Granville High School Public9 to 12 | ||
Creedmoor Elementary PublicPK to 5 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
Similar Homes
Sorry, we can't find any similar homes at this time. Please check back later.
Similar Sold Homes
Sorry, we can't find any similar sold homes at this time. Please check back later.
Homes for Sale near Creedmoor
Neighborhoods
Cities
No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.
Listing Courtesy of Keller Williams Realty
Listings marked with a Doorify MLS icon are provided courtesy of the Doorify MLS, of North Carolina, Internet Data Exchange Database. Brokers make an effort to deliver accurate information, but buyers should independently verify any information on which they will rely in a transaction. The listing broker shall not be responsible for any typographical errors, misinformation, or misprints, and they shall be held totally harmless from any damages arising from reliance upon this data. This data is provided exclusively for consumers' personal, non-commercial use. Copyright 2024 Doorify MLS of North Carolina. All rights reserved.
