tomo logo

$295,000

Beds
3
Baths
2.0
sq ft
1,925

1404 Gearwood Avenue, Durham, NC 27701

1404 Gearwood Avenue

Durham, NC 27701

  • 226 days on market
Attention investors! Exceptional opportunity awaits in a highly sought-after neighborhood close to Downtown Durham. This property presents two distinct avenues for potential buyers: restore this charming house to its original glory targeting a $600,000 ARV, or build a new home in an area where prices are exceeding $900,000, providing significant potential for return on investment. Property sold as is.

Details

Property type

Single Family Residence

Est. home value

$440,747

Lot size

4,791.6 sq ft

Price per sq ft

$154

Year built

1943

Annual property taxes

$1,718.59

Price History

11/13/2024
TriangleMLS

TriangleMLS #10028239

Listed
$295,000
10/23/2024
TriangleMLS

TriangleMLS #10028239

Pending
$295,000
06/04/2024
TriangleMLS

TriangleMLS #10028239

Listed
$295,000

Schools & Community

Elementary school: 

Durham - Eastway

Middle school: 

Durham - Lucas

High school: 

Durham - Northern

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$107,016
Asking price
$295,000
Closing costs (~8% of asking)
-$23,600
Est. remaining loan balance
-$164,384
Cash to seller
$107,016

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

Reliable Holdings Manager Llc

Loan start date

August 2023

Original loan amount

$166,800

Est. remaining balance

$164,384

Interest rate

6.71%

Loan type

New Conventional, 30 year

Seller

Schafer Llc

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

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Status: Active

Tomo last checked: 12/22/2024 at 8:55 AM

Listing updated: 12/18/2024 at 1:54 PM

Listed by: Mark C France, RIG REAL ESTATE LLC Phone #: (919) 985-4490

MLS: TriangleMLS #10028239

TriangleMLS logo

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