309/311 Watson Street Unit 309 & 311
Creedmoor, NC 27522
- 6 beds
- 6 baths
- 2,500 sqft
- ~1/2 acre lot
- $208 per sqft
- 2003 build
- – on site
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.
Listing courtesy of DMLS / Keller Williams Realty
Last checked:
Checking…
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Last updated Oct 20, 2024
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MLS# 10054514 —
The Building
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Year Built:2003
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New Construction:false
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Construction Materials:Vinyl Siding
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Architectural Style:Transitional
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Structure Type:Duplex
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Roof:Shingle
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Stories:2
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Levels:Two
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Basement:false
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Foundation Details:Block
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Common Walls:1 Common Wall
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Patio And Porch Features:Deck
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Building Area Total:2500
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Building Area Units:Square Feet
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# of Units Total:2
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Above Grade Finished Area:2500
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Above Grade Finished Area Units:Square Feet
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Below Grade Finished Area Units:Square Feet
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Unit Number:309 & 311
Interior
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Flooring:Carpet
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Laundry Features:Electric Dryer Hookup
Room Dimensions
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Living Area:2500
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Living Area Units:Square Feet
Location
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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
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Latitude:36.118513
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Longitude:-78.681986
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Coordinates:-78.681986, 36.118513
The Property
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Parcel Number:089618420240
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Property Subtype:Duplex
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Property Type:Residential Income
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Lot Size Acres:0.61
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Lot Size Area:26571.6
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Lot Size SqFt:26571.6
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Lot Size Units:Square Feet
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View:true
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Exterior Features:None
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Fencing:None
Listing Agent
- Contact info:
- Agent phone:
- (919) 985-9416
- Office phone:
- (919) 676-0600
Taxes
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Tax Annual Amount:4259.59
Beds
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Bedrooms Total:6
Baths
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Total Baths:5
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Total Baths:5
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Total Baths:6
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Full Baths:4
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Half Baths:2
The Listing
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Special Listing Conditions:Standard
Heating & Cooling
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Heating:Central
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Heating:true
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Cooling:Central Air
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Cooling:true
Utilities
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Utilities:Cable Connected
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Sewer:Public Sewer
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Water Source:Public
The Community
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Subdivision Name:Dutchville
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Community Features:None
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Pool Private:false
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Association Amenities:None
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Association:false
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# of Units Leased:2
Parking
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Attached Garage:false
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Parking Features:Driveway
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Open Parking:true
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Open Parking Spaces:2
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Max Internet Speed
Provided by BroadbandNow®
This is the maximum advertised internet speed available for this home. Under 10 Mbps is in the slower range, and anything above 30 Mbps is considered fast. For heavier internet users, some plans allow for more than 100 Mbps.
Sale history
Date | Event | Source | Price | % Change |
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9/24/24
Sep 24, 2024
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Listed / Active | DMLS | $520,000 |