309-311 Watson Street, Unit 309 & 311
Creedmoor, NC 27522
$520,000
Price
6
Beds
4
Baths
2
1/2 Baths
2,500 Sq. Ft.
$208 / Sq. Ft.
2,500
Sq. Ft.
$208
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% Cap rate with small investment in items like new flooring and paint and bringing the units up to current market rates estimated to be $1,795. This income producing duplex is part of a portfolio of 6 buildings which include 12 leased units. 309 and 311 Watson St include 2 units in the same duplex, each...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% Cap rate with small investment in items like new flooring and paint and bringing the units up to current market rates estimated to be $1,795. This income producing duplex is part of a portfolio of 6 buildings which include 12 leased units. 309 and 311 Watson St include 2 units in the same duplex, each features 3 beds 2.5 baths each and a total of 2,500 square feet . This property can only be sold as part of the portfolio listed at $2,999,995 with a 5.73% Cap rate. Buildings sold as part of this portfolio are listed under the following MLS numbers: 10054463, 10054486, 10054497, 10054505, 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.
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.
- Listed by Paulina Bohorquez • Keller Williams Realty
Property Details for 309-311 Watson Street, Unit 309 & 311
View
Yes
SubdivisionDutchville
LISTING UPDATED: 09/25/2024 05:08 PM
Property Details for 309-311 Watson Street, Unit 309 & 311
| Status | Active |
|---|---|
| MLS # | 10054514 |
| Days on Market | 59 |
| Taxes | $4,260 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income / Duplex |
| Year Built | 2003 |
| Lot Size | 0.61 AC / 26,571 SF |
| County | Granville County |
Building Information for 309-311 Watson Street, Unit 309 & 311
Stories2Residences2Year Built2003Building Size-Lot Size0.61 AC / 26,571 SF
Property Information for 309-311 Watson Street, Unit 309 & 311
Summary
Location and General Information
- Directions: 2 min from downtown Creedmoor Head east on W Wilton Ave toward N Main St 85 ft Turn right onto S Main St 0.1 mi Turn left onto Park Ave 0.2 mi Turn right onto Cozart St 0.2 mi Turn left onto Watson St Destination will be on the left 23 min from Durham Follow I-85 N/US-15 N to W Hillsboro St in Granville County, 13 min (12.8 mi) Merge onto I-85 N/US-15 N/US-70 E Continue to follow I-85 N/US-15 N. 7.9 mi Take exit 186A for US-15 toward Creedmoor. 0.3 mi Continue straight to stay on US-15 N 5.2 mi Continue on W Lake Rd. Take Park Ave and Cozart St to Watson St 2 min (0.7 mi) Turn right onto W Lake Rd 0.2 mi Turn right onto N Main St 154 ft Turn left onto Park Ave 0.2 mi Turn right onto Cozart St 0.2 mi Turn left onto Watson St Destination will be on the left 351 ft
- Subdivision Name: Dutchville
- Latitude: 36.118513
- Longitude: -78.681986
Taxes and HOA Information
- Association: No
- Tax Annual Amount: $4,259.59
- City Limits Of: Creedmoor
- City Limits YN: Yes
- Lot Number: 1
- Restrictive Covenants YN: No
- School District Link: Granville County Schools Website https://www.gcs.k12.nc.us/
Contract Information
- Lease Expiration Date: 2024-11-30
- Original MLS: Triangle MLS Inc
- Property Leased YN: Yes
Parking
- Open Parking: Yes
- Parking Features: Driveway, Gravel
- Attached Garage: No
Property
Lot Information
- Building Area Total: 2500.0
- Architectural Style: Transitional
- Total Other Area Sq Ft: 0
- Parcel Number: 089618420240
- Structure Type: Duplex
Property and Assessments
- New Construction: No
- Photos Count: 4
- Below Grade Finished Area: 0.0
- Below Grade Finished Area Units: Square Feet
- Common Walls: 1 Common Wall
- Community Features: None
Utilities
- Sewer: Public Sewer
- Utilities: Cable Connected, Electricity Connected, Water Connected
- Water Source: Public
- Water_Sewer: Public, Public Sewer, Cable Connected, Electricity Connected, Water Connected
Interior and Exterior Features
Exterior Features
- Construction Materials: Vinyl Siding
- Exterior Features: None
- Fencing: None
- Foundation Details: Block
- Patio And Porch Features: Deck, Porch
- Pool Private: No
- Roof: Shingle
- New Construction Type: Vinyl Siding, Duplex
Interior Features
- Levels: Two
- Stories: 2
- Flooring: Carpet, Vinyl
- Cooling: Central Air
- Cooling?: Yes
- Heating: Central
- Heating?: Yes
- Laundry Features: Electric Dryer Hookup, Washer Hookup
- Interior: Cable Connected, Electricity Connected, Water Connected, Driveway, Gravel, Vinyl Siding, Electric Dryer Hookup, Washer Hookup
- Equipment: 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
Units Information
Unit One
- Unit One: Above Grade Finished Area: 1250.0
- Unit One: Actual Rent: 1395.0
- Unit One: Baths Total: 3.0
- Unit One: Beds Total: 3.0
- Unit One: Deck: true
- Unit One: Dining Room: true
- Unit One: Dishwasher: true
- Unit One: Garage Attached YN: false
- Unit One: Kitchen: true
- Unit One: Levels: Two
- 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: 1495.0
- Unit Two: Baths Total: 3.0
- 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 309-311 Watson Street, Unit 309 & 311
| 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 309-311 Watson Street, Unit 309 & 311
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.
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Listing Courtesy of Keller Williams Realty
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