4016 Booker Ave · Durham, NC 27713

$160,000

2 bd · 1.0 ba · 1,060 sqft · SingleFamily public records · 1 Days on market

Built 1959 0.26 ac lot Est $280k · 43% under

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +22.3/30.0
• ARV discount +15.0/15.0
• DSCR +7.1/10.0
• 1% rule +4.9/10.0
• Livability +4.0/5.0
• Schools +3.0/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor opportunity in Durham! This 3-bedroom, 2-bath home is in need of a full rehab. The roof is leaking and will require replacement. Foundation cracks have been observed, and the floors are not level; buyers are encouraged to conduct further inspections and evaluations. Property is being sold strictly AS-IS. Seller will make no repairs. Electricity and water are currently off. Please use caution and watch your step when entering the property.

Key facts

• 0.26 acre lot
• Garage
• Built 1959

Property features AI

Finance

• Other: Lot size approximately 0.26 acres
• HOA & community: No association

Exterior

• Parking: Attached garage (1 covered space); Additional open parking for 2 vehicles
• Utilities: Public water; Public sewer; Publicly maintained asphalt road access
• Home design: Single-story house; One level; Fixer condition; Zoning: R-20
• Construction: Vinyl siding; Block foundation; Shingle roof; Built as a house
• Exterior features: Front porch

Interior

• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Hardwood; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: No heating; Central air conditioning
• Interior features: Hardwood and tile flooring

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $264 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $158k (1.3% below list).
• Recommended offer: $158k (1.3% below list) — sets the bar for 1% rule.
• Cap rate 8.3% vs local median 3.0% in Durham — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 81/100 on livability (#15 in NC, #1,411 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: schools D+, crime F.
• Durham Public Schools (urban): math 29% / reading 39% proficiency, ranked #132 of 178 in NC (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents flat; 359 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,905 units permitted in Durham County in 2024 (955 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Durham County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 20y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $118k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $157,917 (1.3% below list)

Questions for the listing agent

1. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.99% ✗
• Cap rate: 8.27%
• Cash-on-cash: 7.07%
• DSCR: 1.31
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $279,840
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4008 Booker Ave	0.03mi	3/1.0 (+1)	1,067 (+1%)	3mo	$210,000	$197	90
3506 Four Seasons Dr	0.65mi	3/1.5 (+1)	1,053 (-1%)	1mo	$205,000	$195	60
1304 Tralea Dr	0.40mi	3/2.0 (+1)	1,160 (+9%)	3mo	$290,000	$250	54
3624 Four Seasons Dr	0.44mi	3/1.5 (+1)	966 (-9%)	20mo	$267,000	$276	41
3323 Fayetteville St Unit A	0.74mi	3/2.5 (+1)	1,203 (+14%)	3mo	$318,000	$264	29
3323 Fayetteville St Unit D	0.74mi	3/2.5 (+1)	1,203 (+14%)	3mo	$318,000	$264	29
3323 Fayetteville St Unit B	0.74mi	3/2.5 (+1)	1,207 (+14%)	6mo	$359,900	$298	27
3323 Fayetteville St Unit E	0.74mi	3/2.5 (+1)	1,207 (+14%)	6mo	$355,000	$294	26

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.95% rent growth · sell at horizon

5-year hold

• IRR: -7.6%
• Equity multiple: 0.72×
• Total profit: $-12,361
• Equity at exit: $23,857

10-year hold

• IRR: -0.7%
• Equity multiple: 0.96×
• Total profit: $-1,897
• Equity at exit: $13,834

Cash invested: $44,800 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 85 Strongly Landlord-Friendly
• State North Carolina: 85 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

10-day notice; preempted; landlord-favorable but court speed varies.

Methodology + full state rankings →

ZIP-level market 27713

• Rents YoY: 0.9%
• Active inventory: 359
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,579 high
• Mortgage (P&I): −$839
• Tax from tax record: −$78 /mo · $935/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $264

Break-even live

Break-even rent $1,245

Max offer price $160,000

Occupancy floor 78%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1400 E Cornwallis Rd Durham, NC	2.0–3.0	2.0–3.0	792	$1,539	$1.94	13d	5	0.38mi
3528 Arlington St Durham, NC	3.0	1.5	1053	$1,850	$1.76	23d	1	0.52mi
2800 Bainbridge Dr Durham, NC	1.0–2.0	1.0–2.0	990	$1,340	$1.35	13d	15	0.81mi
2911 Beechwood Dr Durham, NC	3.0	1.5	1189	$1,965	$1.65	23d	1	0.82mi
1701 E Cornwallis Rd Durham, NC	2.0–3.0	1.0–2.5	1125	$1,056	$0.94	13d	14	0.86mi
100 Lynn Forest Dr Durham, NC	2.0–4.0	2.0	1140	$1,280	$1.12	13d	6	0.90mi
1619 Snowmass Way Durham, NC	2.0	2.5	1280	$1,725	$1.35	23d	1	0.98mi
1326 Holly Grove Way Durham, NC	2.0	2.5	1238	$1,630	$1.32	23d	1	1.02mi
3003 Courtney Creek Blvd Durham, NC	2.0	2.5	1238	$1,795	$1.45	23d	1	1.02mi
901 Elmira Ave Durham, NC	3.0	1.0	960	$1,595	$1.66	13d	1	1.02mi
827 Elmira Ave Durham, NC	3.0	1.0	1218	$1,630	$1.34	23d	1	1.04mi
2850 Courtney Creek Blvd Durham, NC	1.0–3.0	1.0–2.0	1116	$1,430	$1.28	13d	19	1.06mi
3417 Balfour W Durham, NC	2.0	2.5	1162	$1,495	$1.29	13d	1	1.06mi
1504 Holly Grove Way Durham, NC	3.0	2.5	1360	$2,000	$1.47	23d	1	1.07mi
412 E Pilot St Durham, NC	1.0–2.0	1.0	643	$1,075	$1.67	23d	6	1.12mi
2727 Atlantic St Durham, NC	3.0	1.0	1036	$1,595	$1.54	13d	1	1.27mi
10 Wiltshire Pl Durham, NC	1.0	1.0	1483	$585	$0.39	23d	1	1.27mi
116 E Cornwallis Rd Durham, NC	1.0	1.0	1013	$600	$0.59	23d	1	1.33mi
123 Archdale Dr Durham, NC	1.0	1.0	1200	$1,600	$1.33	23d	1	1.34mi
405 Reynolds Ave Unit 1300723P Durham, NC	3.0	2.0	1453	$6,039	$4.16	13d	1	1.43mi
10 Hartford Ct Durham, NC	2.0	1.5	1000	$1,500	$1.50	23d	1	1.48mi

Listing history 3 events

1. 2026-06-10
   status $160,000 Pending 1 DOM
2. 2026-06-09
   remarks 451-char remark
3. 2026-06-09
   listed $160,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NC · Resets to sale price

• Current annual tax: $935 · $78/mo
• Projected year-2 tax: $1,312 · $109/mo
• Expected delta: +$377/yr (+$31/mo · 40.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,950
• − Mortgage interest: −$8,962
• − Property taxes: −$935
• − Insurance: −$800
• − Repairs & maintenance: −$1,516
• − Management: −$1,516
• − Depreciation: −$4,655
• Taxable income: $566
• Est. tax owed @ 24.0%: −$136
• After-tax cash flow: $3,031/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Durham Public Schools
• NCES district ID: 3701260
• Math proficiency: 29% ▼ -3.00%
• Reading proficiency: 39% ▲ 2.00%
• Median HH income: $52,143
• Composite: 29.69/100
• National rank: #6457
• State rank: #132 of 178 in NC

Livability — Durham

• Score: 81/100
• State rank: #15
• US rank: #1411

Category grades

Amenities A+ Commute A+ Cost of living B+ Crime F Employment B Housing A+ Health & safety A+ User ratings A-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Durham, NC
• County: Durham County · 288,747 people
• City population: 288,747
• Metro: Durham-Chapel Hill, NC
• Population (ZIP): 59,197
• Household income: $100,676
• Rent vs Own: 40.6% rent · 59.4% own
• Severe rent burden: 2779.0

Population outlook (Durham County) Hauer SSP2

• Today (2025): 368,962 people
• By 2030: 402,686 · +9.1%
• By 2040: 468,677 · +27.0%
• By 2050: 531,727 · +44.1%
• By 2075: 660,446 · +79.0%
• By 2100: 739,971 · +100.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 42% Black 35% Hispanic / Latino 11% Two or more races 9% Asian 6%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Slovak 2% Italian 2% Romanian 2%
• Foreign-born: 14% · Canada, China, Jamaica
• Languages at home: 82% English-only · Spanish 9% Chinese 2% Other Indo-European 2%

Political lean MEDSL · Durham

• 2024 margin: Solid D (+61.9) · D 80.2% · R 18.2% · Other 1.6%
• 2008→2024 swing: +10.0pp toward D · 2008: 51.9pp · 2024: 61.9pp
• All cycles: 2024: D+61.9 2020: D+62.4 2016: D+60.4 2012: D+52.7 2008: D+51.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -131.99%
• Current HPI: 240.5548
• Rent YoY: ▲ 0.95%
• Metro: Durham-Chapel Hill, NC
• State GDP YoY: ▲ 3.28%
• F500 in state: 26

Industry mix (Fortune 500 HQ in NC)

Industry	F500 HQs	Revenue
▸Financial Services	2	$213B
▸Retail	2	$95B
▸Industrial Conglomerate	1	$38B
▸Metals / Steel	1	$35B
▸Utilities	1	$30B
▸Industrial Machinery	1	$19B

Price history

+68.4% since first listed

8 events — show timeline

• 2026-06-09 Listed $160,000 TMLS
• 2026-01-27 Sold (Public Records) $118,000 Public Records
• 2009-03-03 Sold (Public Records) $56,500 Public Records
• 2008-01-05 Listing Removed — TMLS
• 2007-07-30 Listed $79,900 TMLS
• 2007-02-16 Listed $79,900 TMLS
• 2007-02-10 Listing Removed — TMLS
• 2006-08-17 Listed $95,000 TMLS

Property tax history

-0.7%/yr

Latest (2025): $935 · +4.1% YoY. Source: county tax records.