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309/311 Watson Street Unit 309 & 311

Creedmoor, NC 27522

6 beds
6 baths
2,500 sqft
~1/2 acre lot
$184 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 prcnt 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 $2,695,000 with a 6 prcnt 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 the property shown. Tours by appointment only. Do not knock on the doors of these units.

Listing courtesy of DMLS / Keller Williams Realty

Last checked: Checking… • Last updated Nov 23, 2024 •

MLS# 10054514 —

The Building

Year Built:

2003
New Construction:

false
Construction Materials:

Vinyl Siding
Architectural Style:

Transitional
Structure Type:

Duplex
Roof:

Shingle
Stories:

2
Levels:

Two
Basement:

false
Foundation Details:

Block
Common Walls:

1 Common Wall
Patio And Porch Features:

Deck
Building Area Total:

2500
Building Area Units:

Square Feet
# of Units Total:

2
Above Grade Finished Area:

2500
Above Grade Finished Area Units:

Square Feet
Below Grade Finished Area Units:

Square Feet
Unit Number:

309 & 311

Interior

Flooring:

Carpet
Laundry Features:

Electric Dryer Hookup

Room Dimensions

Living Area:

2500
Living Area Units:

Square Feet

Financial & Terms

Lease Term:

12 Months

Location

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
Latitude:

36.118513
Longitude:

-78.681986
Coordinates:

-78.681986, 36.118513

The Property

Parcel Number:

089618420240
Property Subtype:

Duplex
Property Type:

Residential Income
Lot Size Acres:

0.61
Lot Size Area:

26571.6
Lot Size SqFt:

26571.6
Lot Size Units:

Square Feet
View:

true
Exterior Features:

None
Fencing:

None

Listing Agent

Contact info:

Taxes

Tax Annual Amount:

4259.59

Beds

Bedrooms Total:

6

Baths

Total Baths:

5
Total Baths:

5
Total Baths:

6
Full Baths:

4
Half Baths:

2

The Listing

Special Listing Conditions:

Standard

Heating & Cooling

Heating:

Central
Heating:

true
Cooling:

Central Air
Cooling:

true

Utilities

Utilities:

Cable Connected
Sewer:

Public Sewer
Water Source:

Public

The Community

Subdivision Name:

Dutchville
Community Features:

None
Pool Private:

false
Association Amenities:

None
Association:

false
# of Units Leased:

2

Parking

Attached Garage:

false
Parking Features:

Driveway
Open Parking:

true
Open Parking Spaces:

2

Explore the Area

My Commute

From

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Sale history

Date	Event	Source	Price	% Change
11/23/24 Nov 23, 2024	Price Changed	DMLS	$461,000	-11.3%
9/24/24 Sep 24, 2024	Listed / Active	DMLS	$520,000

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This multifamily located in Creedmoor, NC 27522 is currently for sale for $461,000. 309/311 Watson Street Unit 309 & 311 is a 2,500 square foot multifamily with 6 beds and 6 baths that has been on Estately for 97 days. This multifamily is in the attendance area of Mount Energy Elementary School, G C Hawley Middle School, and South Granville High School.

Listing Courtesy of: DMLS and 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 2025 Doorify MLS of North Carolina. All rights reserved.