506 North Hyde Park Avenue
Durham, NC 27703
$325,000
Price
2
Beds
2
Baths
1,505 Sq. Ft.
$216 / Sq. Ft.
1,505
Sq. Ft.
$216
per Sq. Ft.
Active Under Contract
Active Under Contract
Description
House Hack Alert! Rare Duplex find in classic downtown Durham neighborhood. Live on one side. In 13-15 months rent it out, and repeat to your next property. It gets even better with an owner occupied downpayment of 3.5% FHA or 5% Conventional. Plus, you can use the current rent to qualify for the loan! Welcome to this stunning duplex, a rare gem near downtown Durham! Perfectly blending modern amenities with classic charm, this 2-bedroom, 2-bath property offers 1505 sqft of meticulously renovated...House Hack Alert! Rare Duplex find in classic downtown Durham neighborhood. Live on one side. In 13-15 months rent it out, and repeat to your next property. It gets even better with an owner occupied downpayment of 3.5% FHA or 5% Conventional. Plus, you can use the current rent to qualify for the loan! Welcome to this stunning duplex, a rare gem near downtown Durham! Perfectly blending modern amenities with classic charm, this 2-bedroom, 2-bath property offers 1505 sqft of meticulously renovated living space. Step into Side B to explore its potential as a comfortable home or lucrative investment. Side A, currently leased at $1075/month, features a total renovation with brand new electrical, plumbing, floors, cabinets, and bathroom, making it move-in ready. Both units benefit from updated individual electrical panels with breakers and grounding (2020), ensuring safety and efficiency. Enjoy year-round comfort with a new HVAC system (2019) and new ducts (2023). A new 50-gallon hot water heater (2022) ensures you'll never run out of hot water. Additionally, the roof was replaced in 2024, providing peace of mind for years to come. Ideal for homeowners and investors alike, this duplex presents a fantastic opportunity, especially as an owner-occupied space. Live in one unit while generating rental income from the other, maximizing your investment potential. This duplex is a stone's throw from the vibrant heart of Durham, offering unparalleled convenience and potential. Viewings will be focused on Side B, with Side A available for showing upon an acceptable offer. A full list of all renovations and maintenance can be found in the documents. Don't miss this opportunity to own a piece of prime real estate in one of the most desirable locations in the city! I have preferred lenders if you need to speak to anyone about qualifying using the rent to decrease your debt to income ratio!
- Listed by Christopher Mitchell • Coldwell Banker Advantage
Property Details for 506 North Hyde Park Avenue
Subdivision
Hyde Park
LISTING UPDATED: 08/19/2024 08:51 AM
Property Details for 506 North Hyde Park Avenue
| Status | Active Under Contract |
|---|---|
| MLS # | 10044730 |
| Days on Market | 60 |
| Taxes | $1,970 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income / Duplex |
| Year Built | 1925 |
| Lot Size | 0.18 AC / 7,840 SF |
| County | Durham County |
Building Information for 506 North Hyde Park Avenue
Stories-Residences-Year Built1925Building Size-Lot Size0.18 AC / 7,840 SF
Property Information for 506 North Hyde Park Avenue
Summary
Location and General Information
- Directions: From I 885 S turn slightly onto NC-147N Take exit 2 for NC -55/ Alston Ave .2 miles Right onto NC-55 w/s Alston Ave .2 miles Turn right onto Taylor St .3 miles Turn Left onto N Hyde Park Ave .1 miles The house is on the right.
- Subdivision Name: Hyde Park
- Latitude: 35.990729
- Longitude: -78.881497
- Road Frontage Type: City Street
Taxes and HOA Information
- Tax Annual Amount: $1,969.88
- City Limits Of: Durham
- City Limits YN: Yes
- Lot Number: 003
- Restrictive Covenants YN: No
Contract Information
- Lease Expiration Date: 2025-04-30
- Original MLS: Triangle MLS Inc
- Property Leased YN: Yes
School Information
- Elementary School: Durham - Eastway
- Middle Or Junior School: Durham - Neal
- High School: Durham - Northern
Parking
- Open Parking: Yes
- Parking Features: Gravel
- Attached Garage: No
Property
Lot Information
- Building Area Total: 1505.0
- Architectural Style: Bungalow
- Total Other Area Sq Ft: 0
- Parcel Number: 083155055458
- Structure Type: Duplex
Property and Assessments
- New Construction: No
- Photos Count: 42
- Below Grade Finished Area: 0.0
- Below Grade Finished Area Units: Square Feet
- Common Walls: 1 Common Wall
- Community Features: Park, Sidewalks
- Property Condition: Updated/Remodeled
Utilities
- Sewer: Public Sewer
- Water Source: Public
- Water_Sewer: Public, Public Sewer
Interior and Exterior Features
Exterior Features
- Construction Materials: Vinyl Siding
- Exterior Features: Private Entrance, Rain Gutters
- Fencing: Partial Cross
- Foundation Details: Pillar/Post/Pier
- Pool Private: No
- Roof: Shingle
- New Construction Type: Vinyl Siding, Duplex
Interior Features
- Levels: One
- Basement Description: Crawl Space
- Flooring: Hardwood, Laminate, Vinyl
- Cooling: Central Air
- Cooling?: Yes
- Heating: Central, Electric, Heat Pump, Natural Gas
- Heating?: Yes
- Appliances: Dishwasher, Dryer, Free-Standing Electric Oven, Free-Standing Range, Free-Standing Refrigerator, Microwave, Washer
- Laundry Features: Inside
- Interior Features: Laminate Counters, Smart Thermostat
- Equipment Appliances: Dishwasher, Dryer, Free-Standing Electric Oven, Free-Standing Range, Free-Standing Refrigerator, Microwave, Washer
- Interior: Gravel, Vinyl Siding, Inside
- Equipment: Dishwasher, Dryer, Free-Standing Electric Oven, Free-Standing Range, Free-Standing Refrigerator, Microwave, Washer, Inside, Gravel
Agent
Sale and Listing
- Property Class Name: CrossProperty
Rental
Rental Information
- Lease Term: 12 Months
Units Information
Unit One
- Unit One: Actual Rent: 1070.0
- Unit One: Baths Total: 1.0
- Unit One: Beds Total: 1.0
- Unit One: Dishwasher: true
- Unit One: Kitchen: true
- Unit One: Living Area: 636.0
- Unit One: Living Room: true
- Unit One: Refrigerator: true
- Unit One: Unit Type: 1 Bedroom
- Unit One: WasherDryer Hookups: true
Unit Two
- Unit Two: Baths Total: 1.0
- Unit Two: Dining Room: true
- Unit Two: Dishwasher: true
- Unit Two: Kitchen: true
- Unit Two: Living Area: 869.0
- Unit Two: Living Room: true
- Unit Two: Refrigerator: true
- Unit Two: Unit Type: 1 Bedroom
- Unit Two: Utility Room: true
- Unit Two: WasherDryer Hookups: true
Unit Three
- Unit Three: Actual Rent: 0.0
- Unit Three: Beds Total: 0.0
- Unit Three: Living Area: 0.0
Unit Four
- Unit Four: Actual Rent: 0.0
- Unit Four: Beds Total: 0.0
- Unit Four: Living Area: 0.0
Property History for 506 North Hyde Park Avenue
| 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.
Public Records for 506 North Hyde Park Avenue
Taxable ValueLand$26,640Additions$123,744Total$150,384
Tax Record2023$1,970 ($164 / month)
Home Facts
Baths2Total Finished SqFt1,456 SqFtAbove Grade Finished SqFt1,456 SqFtStories1Lot Size7,841 SqFtStyleDuplexYear Built1925ZoningRU-5(2)CountyDURHAMAPN111466Fireplace TypeHas Fireplace
Schools near 506 North Hyde Park Avenue
This home is within Durham Public School District.
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 9 to 12 |
Rating | School | Distance |
|---|---|---|
Eastway Elementary PublicPK to 5 | ||
Neal Middle Public6 to 8 | ||
Northern High Public9 to 12 | ||
Durham's Performance Learning Public9 to 12 |
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 Coldwell Banker Advantage
Listings marked with an icon are provided in part courtesy of the Triangle MLS, Inc. of North Carolina, Internet Data Exchange Database. Listings are also provided in part by the IDX program of Longleaf Pine REALTORS and Alamance MLS. Copyright 2024 Triangle MLS, Inc. of North Carolina. Copyright 2024 Longleaf Pine REALTORS. Copyright 2024 Alamance MLS. All rights reserved. Closed (sold) listings may have been listed and/or sold by a real estate firm other than the firm(s). Closed data is not available until the sale of the property is recorded in the MLS. Home sale data is not an appraisal, CMA competitive or home valuation of any property.
