210 W Geer St · Durham, NC 27701

$360,000

4 bd · 2.0 ba · 1,536 sqft · MultiFamily public records · 4 Days on market

Built 1940 5,663 sqft lot Est $386k · 7% under ↓ 54% since listing

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Why this score? — see what drove the B- 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 +26.4/30.0
• ARV discount +10.5/15.0
• DSCR +9.0/10.0
• 1% rule +6.9/10.0
• Livability +4.0/5.0
• Rent growth +3.3/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Duplex located at 210 W. Geer Street in Downtown Durham. The property features two identical 2-bedroom, 1-bathroom units, each approximately 770 square feet. One unit is currently vacant, providing immediate upside through renovation and lease-up to market rents. This vacancy also presents an attractive opportunity for an owner-occupant seeking to live in one unit while generating income from the other. Located along the highly desirable Geer Street corridor, the property offers walkable access to Downtown Durham's premier dining, retail, and employment centers. The asset represents a compelling value-add opportunity, with the potential to enhance curb appeal through exterior improvements a

Key facts

• Geer street corridor
• Downtown durham
• Walkable access

Tags

• DUPLEX
• DOWNTOWN DURHAM
• GEER STREET CORRIDOR
• WALKABLE ACCESS
• VALUE-ADD OPPORTUNITY
• EXTERIOR IMPROVEMENTS

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $360k.

Deal economics

• At list price, monthly cash flow is $946 ($11k/yr) — positive. Per door: $473/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $360k).
• Cap rate 9.4% 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 rising (+3.2%/yr); 197 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 2,905 units permitted in Durham County in 2024 (955 in 5+ unit buildings).
• At $4,276/mo this rent would consume 74% of the median local household income ($70k/yr) (locally 1402% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $11k 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.
• At projected returns (-3.0% appreciation + 3.2% rent growth), your $101k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1940 — 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 $360,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.19% ✓
• Cap rate: 9.45%
• Cash-on-cash: 11.26%
• DSCR: 1.50
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $385,536
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
206 W Corporation St	0.14mi	4/2.0	1,500 (-2%)	1mo	$380,000	$253	88
208 E Geer St	0.26mi	4/2.0	1,490 (-3%)	9mo	$340,000	$228	75
1123 Gurley St	0.27mi	4/2.0	1,686 (+10%)	15mo	$390,000	$231	59
329 Clark St	0.54mi	4/2.0	1,456 (-5%)	14mo	$365,000	$251	54
821 Green St	0.65mi	3/2.0 (-1)	1,532 (-0%)	18mo	$301,000	$196	49
1210 Washington St	0.53mi	4/2.0	1,629 (+6%)	22mo	$530,000	$325	47
331 Clark St	0.55mi	4/2.0	1,352 (-12%)	15mo	$355,000	$263	42

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 · 3.25% rent growth · sell at horizon

5-year hold

• IRR: 0.8%
• Equity multiple: 1.03×
• Total profit: $3,023
• Equity at exit: $53,677

10-year hold

• IRR: 10.7%
• Equity multiple: 1.84×
• Total profit: $84,783
• Equity at exit: $31,126

Cash invested: $100,800 (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 27701

• Rents YoY: 3.2%
• Active inventory: 197
• Price-to-rent: 14.0×

Monthly cashflow live

• Estimated rent: $4,276 high
• Mortgage (P&I): −$1,888
• Tax from tax record: −$394 /mo · $4,730/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$898
• Net cashflow: $946

Break-even live

Break-even rent $3,079

Max offer price $360,000

Occupancy floor 73%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,276
Total (2 units)			$4,276

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: $90,000
• Closing costs: $10,800
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
211 Hargrove St Unit 1300731P Durham, NC	3.0	3.0	2131	$5,298	$2.49	13d	1	0.03mi
318 W Corporation St Durham, NC	3.0	1.0–2.0	900	$3,750	$4.17	13d	55	0.19mi
701 Washington St Durham, NC	1.0–3.0	1.0–2.0	996	$5,241	$5.26	13d	214	0.37mi
900 Dacian Ave Unit B Durham, NC	3.0	2.0	1550	$2,595	$1.67	23d	1	0.56mi
809 Drew St Durham, NC	3.0	2.0	2192	$3,000	$1.37	23d	1	0.65mi
1312 N Alston Ave Durham, NC	4.0	2.5	1660	$2,350	$1.42	23d	1	0.70mi
605 W Main St Durham, NC	3.0	1.0–2.0	977	$3,628	$3.71	13d	48	0.71mi
500 E Main St Durham, NC	3.0	1.0–2.0	1002	$3,556	$3.55	13d	40	0.87mi
511 S Mangum St Durham, NC	3.0	1.0–2.0	1159	$4,115	$3.55	13d	29	0.91mi
441 S Dillard St Durham, NC	1.0–3.0	1.0–2.5	1153	$3,389	$2.94	13d	21	0.95mi
603 N Elm St Unit A Durham, NC	3.0	2.0	1200	$1,495	$1.25	23d	1	0.97mi
1136 Drew St Unit A Durham, NC	3.0	2.5	1390	$1,550	$1.12	13d	1	0.98mi
504 E Pettigrew St Durham, NC	3.0	1.0–2.0	1092	$2,528	$2.32	21d	30	0.98mi
510 E Pettigrew St Durham, NC	3.0	1.0–2.0	996	$3,130	$3.14	13d	29	1.02mi
1516 London Cir Durham, NC	3.0	1.0	1118	$1,650	$1.48	23d	1	1.21mi
815 Pauli Murray Pl Durham, NC	3.0	2.5	1450	$3,400	$2.34	23d	1	1.27mi
406 N Hyde Park Ave Durham, NC	3.0	1.0	1160	$1,730	$1.49	21d	1	1.33mi
1602 Juniper St Unit A Durham, NC	3.0	2.5	1688	$2,400	$1.42	23d	1	1.36mi
1602 Juniper St Unit B Durham, NC	4.0	3.0	1754	$2,800	$1.60	23d	1	1.36mi
910 Scout Dr Durham, NC	3.0	2.5	1508	$4,000	$2.65	23d	1	1.38mi
810 9th St Durham, NC	3.0	1.0–3.0	988	$3,865	$3.91	13d	47	1.46mi
514 E Umstead St Durham, NC	3.0	2.0	1134	$1,625	$1.43	23d	1	1.47mi
701 Grant St Durham, NC	3.0	2.0	1145	$1,850	$1.62	23d	1	1.47mi

Listing history 4 events

1. 2026-04-15
   status Pending
2. 2026-04-11
   listed $360,000 Active
3. 2026-04-04
   historical
4. 2026-02-25
   listed $775,000 Active

ⓘ 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: $4,730 · $394/mo
• Projected year-2 tax: $4,730 · $394/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥105°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: $51,312
• − Mortgage interest: −$20,166
• − Property taxes: −$4,730
• − Insurance: −$1,800
• − Repairs & maintenance: −$4,105
• − Management: −$4,105
• − Depreciation: −$10,473
• Taxable income: $5,934
• Est. tax owed @ 24.0%: −$1,424
• After-tax cash flow: $9,928/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): 24,793
• Household income: $69,740
• Rent vs Own: 69.8% rent · 30.2% own
• Severe rent burden: 1402.0

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 0.69)
• Race & ethnicity: White 40% Black 32% Hispanic / Latino 19% Two or more races 9% Asian 3%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Romanian 2% Italian 2% Slovak 2%
• Foreign-born: 18% · Canada, Vietnam
• Languages at home: 76% English-only · Spanish 18% Other Indo-European 2% German/W. Germanic 1%

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: ▼ -272.19%
• Current HPI: 347.5371
• Rent YoY: ▲ 3.25%
• 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

-53.5% since first listed

4 events — show timeline

• 2026-04-15 Pending — TMLS
• 2026-04-11 Listed $360,000 TMLS
• 2026-04-04 Listing Removed — TMLS
• 2026-02-25 Listed $775,000 TMLS

Property tax history

+16.0%/yr

Latest (2025): $4,730 · +82.5% YoY. Source: county tax records.