906 Price Ave · Durham, NC 27701

$159,900

2 bd · 2.0 ba · 1,101 sqft · SingleFamily public records · 110 Days on market

Built 1920 5,227 sqft lot Est $280k · 43% under

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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 +24.4/30.0
• ARV discount +15.0/15.0
• DSCR +7.9/10.0
• 1% rule +6.2/10.0
• 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

Listing remarks MLS

PROPERTY NEEDS REPAIR, HAS TWO ROOMS THAT DO NOT HAVE CLOSETS AND THUS ARE NOT CONSIDERED BEDROOMS; JUST A COUPLE BLOCKS FROM NORTH CAROLINA CENTRAL UNIVERSITY.

Key facts

• Side driveway
• Full front porch
• Four fireplaces

Tags

• FULL FRONT PORCH
• FOUR FIREPLACES
• HARDWOOD FLOORS
• CHAIN-LINK FENCED BACKYARD
• SIDE DRIVEWAY
• EASY ACCESS TO DOWNTOWN DURHAM

Property features AI

Finance

• Other: Lot size approximately 0.12 acres; Zoning: R-3; City street frontage on a public, asphalt road; County: Durham
• HOA & community: No association

Exterior

• Parking: Driveway; On-street parking
• Utilities: Public water; Public sewer; Electricity connected; Sewer connected; Water connected; Cable available
• Home design: Site-built single-story home; One level
• Construction: Vinyl siding; Shingle roof; Permanent foundation; Built as site-built construction
• Exterior features: Fenced yard; Back yard with chain link fencing

Interior

• Kitchen: Electric oven
• Bedrooms: 2 total bedrooms; 3 main-level bedrooms
• Flooring: Hardwood floors; Vinyl floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (gas pack); Central air conditioning (gas pack)
• Interior features: Electric oven; Fireplace(s) in bedroom, dining room, family room and living room (masonry) — total of 4 fireplaces; Storm door(s)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $326 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $146k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.7% 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: 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.
• Zoned schools: Hillside High (math 31% / reading 32%, grade F, #449 of 535 statewide, top 85%, 1,526 students, 100% FRL) — zoned schools average 100% FRL vs 58% district-wide (42 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.2%/yr); 197 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 2,905 units permitted in Durham County in 2024 (955 in 5+ unit buildings).
• This rent runs 31% of the median local income ($70k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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

• It's been on market 110 days — a 9% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 18y ago; this cycle's ask has dropped $70k (30%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $10k; list at $160k implies a 1515% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $145,509 (9.0% below list)

Questions for the listing agent

1. It's been on market 110 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 1.12% ✓
• Cap rate: 8.74%
• Cash-on-cash: 8.73%
• DSCR: 1.39
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $279,654
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
802 Cox Ave	0.10mi	2/2.0	1,002 (-9%)	3mo	$253,000	$252	78
911 Grant St	0.16mi	2/2.5	1,190 (+8%)	4mo	$302,000	$254	74
915 Grant St	0.16mi	2/2.5	1,190 (+8%)	6mo	$296,400	$249	72
913b Grant St	0.16mi	2/2.5	1,190 (+8%)	6mo	$290,000	$244	72
1010 Cole St	0.31mi	3/2.0 (+1)	1,041 (-5%)	0mo	$275,000	$264	71
608 E Umstead St	0.33mi	3/2.5 (+1)	1,200 (+9%)	2mo	$250,000	$208	61
421 Eugene St Unit A	0.35mi	3/2.5 (+1)	1,193 (+8%)	2mo	$305,000	$256	61
423 Eugene St	0.35mi	3/2.5 (+1)	1,222 (+11%)	2mo	$308,000	$252	57
608 A E Umstead	0.34mi	3/2.5 (+1)	1,200 (+9%)	8mo	$287,000	$239	55
1518 Rosewood St	0.49mi	2/2.0	957 (-13%)	3mo	$255,000	$266	53
2310 Nebo St	0.73mi	3/2.0 (+1)	1,159 (+5%)	4mo	$330,000	$285	48
1513 Rosewood St	0.47mi	3/1.0 (+1)	952 (-14%)	1mo	$245,200	$258	46

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: -2.8%
• Equity multiple: 0.90×
• Total profit: $-4,699
• Equity at exit: $23,842

10-year hold

• IRR: 7.2%
• Equity multiple: 1.55×
• Total profit: $24,553
• Equity at exit: $13,825

Cash invested: $44,772 (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: 7.4×

Monthly cashflow live

• Estimated rent: $1,792 high
• Mortgage (P&I): −$839
• Tax from tax record: −$185 /mo · $2,222/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$376
• Net cashflow: $326

Break-even live

Break-even rent $1,380

Max offer price $159,900

Occupancy floor 77%

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
813 Dupree St Durham, NC	2.0	2.0	1027	$1,650	$1.61	13d	1	0.08mi
1012 S Alston Ave Apt C Durham, NC	2.0	1.0	750	$1,150	$1.53	23d	1	0.09mi
1101 S Alston Ave Durham, NC	1.0	1.0	1433	$935	$0.65	21d	1	0.12mi
1000 Linwood Ave Durham, NC	3.0	2.0	1150	$2,400	$2.09	13d	1	0.12mi
1301 S Alston Ave Durham, NC	2.0	1.0	994	$1,495	$1.50	13d	1	0.20mi
1313 S Alston Ave Durham, NC	3.0	1.0	1350	$1,750	$1.30	13d	1	0.24mi
701 Grant St Durham, NC	3.0	2.0	1145	$1,850	$1.62	23d	1	0.33mi
1107 Dayton St Durham, NC	2.0	1.5	1050	$1,350	$1.29	13d	1	0.36mi
1107 Dayton St Durham, NC	2.0	1.5	1050	$1,350	$1.29	23d	1	0.36mi
514 E Umstead St Durham, NC	3.0	2.0	1134	$1,625	$1.43	23d	1	0.39mi
411 Dunstan Ave Durham, NC	3.0	2.0	1091	$2,500	$2.29	23d	1	0.39mi
704 Bacon St Durham, NC	2.0	1.0	744	$1,495	$2.01	23d	1	0.53mi
3 Fisher Pl Durham, NC	2.0	1.5	752	$1,100	$1.46	23d	1	0.56mi
520 Cecil St Durham, NC	3.0	1.0	900	$1,800	$2.00	13d	1	0.57mi
1002 Bacon St Durham, NC	3.0	2.0	1028	$1,850	$1.80	23d	1	0.65mi
515 Burlington Ave Unit A Durham, NC	2.0	1.0	763	$1,200	$1.57	23d	1	0.69mi
2305 Fitzgerald Ave Durham, NC	3.0	2.5	1408	$2,000	$1.42	23d	1	0.77mi
1114 South St Durham, NC	3.0	2.5	1418	$3,000	$2.12	23d	1	0.78mi
703 S Roxboro St Durham, NC	2.0	1.0–2.0	1113	$1,696	$1.52	23d	16	0.78mi
1819 Cecil St Durham, NC	3.0	2.0	1105	$1,795	$1.62	23d	1	0.79mi
510 E Pettigrew St Durham, NC	3.0	1.0–2.0	996	$2,510	$2.52	13d	29	0.80mi
504 E Pettigrew St Durham, NC	3.0	1.0–2.0	1092	$2,255	$2.07	21d	30	0.86mi
504 E Pettigrew St Durham, NC	2.0	1.0–2.0	1025	$2,219	$2.16	13d	35	0.86mi
813 Fargo St Durham, NC	1.0	1.0	1240	$675	$0.54	23d	1	0.88mi
1809 E Main St Durham, NC	3.0	1.0	1200	$1,700	$1.42	13d	1	0.90mi
441 S Dillard St Durham, NC	1.0–3.0	1.0–2.5	1153	$2,454	$2.13	13d	21	0.90mi
807 E Main St Durham, NC	1.0	1.0	1000	$1,695	$1.70	23d	2	0.91mi
464 E Pettigrew St Durham, NC	2.0	2.0	1091	$2,786	$2.55	13d	1	0.91mi
500 E Main St Durham, NC	3.0	1.0–2.0	1002	$2,920	$2.91	13d	40	0.93mi
800 Fargo St Durham, NC	1.0	1.0	1112	$750	$0.67	13d	1	0.95mi
800 Fargo St Unit B1 Durham, NC	2.0	2.0	1112	$1,780	$1.60	23d	1	0.95mi
2113 Angier Ave Apt B Durham, NC	2.0	1.0	925	$1,300	$1.41	23d	1	1.01mi
511 S Mangum St Durham, NC	3.0	1.0–2.0	1159	$3,278	$2.83	13d	29	1.04mi
603 N Elm St Unit A Durham, NC	3.0	2.0	1200	$1,495	$1.25	23d	1	1.04mi
406 N Hyde Park Ave Durham, NC	3.0	1.0	1160	$1,730	$1.49	21d	1	1.04mi
2727 Atlantic St Durham, NC	3.0	1.0	1036	$1,595	$1.54	13d	1	1.05mi
721 Liberty St Unit C Durham, NC	2.0	1.0	800	$1,495	$1.87	23d	1	1.08mi
827 Elmira Ave Durham, NC	3.0	1.0	1218	$1,630	$1.34	23d	1	1.14mi
901 Elmira Ave Durham, NC	3.0	1.0	960	$1,595	$1.66	13d	1	1.16mi
901 S Duke St Durham, NC	1.0	1.0	725	$1,199	$1.65	23d	1	1.16mi

Listing history 28 events

1. 2026-06-18
   days on market $159,900 Active 110 DOM
2. 2026-06-17
   days on market $159,900 Active 109 DOM
3. 2026-06-16
   days on market $159,900 Active 108 DOM
4. 2026-06-15
   days on market $159,900 Active 107 DOM
5. 2026-06-14
   days on market $159,900 Active 105 DOM
6. 2026-06-10
   days on market $159,900 Active 102 DOM
7. 2026-06-09
   days on market $159,900 Active 101 DOM
8. 2026-06-09
   pricestatus $159,900 Active 100 DOM
9. 2026-05-24
   status Pending
10. 2026-04-17
    price $164,900
11. 2026-04-02
    price $169,900
12. 2026-03-26
    price $174,900
13. 2026-03-19
    price $179,900
14. 2026-03-12
    price $189,900
15. 2026-03-05
    price $199,900
16. 2026-02-26
    price $209,900
17. 2026-02-19
    price $219,900
18. 2026-02-12
    listed $229,900 Active
19. 2009-02-09
    soldstatus $9,900 160-char remark

    Show marketing remark (160 chars)

    PROPERTY NEEDS REPAIR, HAS TWO ROOMS THAT DO NOT HAVE CLOSETS AND THUS ARE NOT CONSIDERED BEDROOMS; JUST A COUPLE BLOCKS FROM NORTH CAROLINA CENTRAL UNIVERSITY.

20. 2009-02-09
    soldstatus $9,900 160-char remark

    Show marketing remark (160 chars)

    PROPERTY NEEDS REPAIR, HAS TWO ROOMS THAT DO NOT HAVE CLOSETS AND THUS ARE NOT CONSIDERED BEDROOMS; JUST A COUPLE BLOCKS FROM NORTH CAROLINA CENTRAL UNIVERSITY.

21. 2009-01-22
    historical 160-char remark

    Show marketing remark (160 chars)

    PROPERTY NEEDS REPAIR, HAS TWO ROOMS THAT DO NOT HAVE CLOSETS AND THUS ARE NOT CONSIDERED BEDROOMS; JUST A COUPLE BLOCKS FROM NORTH CAROLINA CENTRAL UNIVERSITY.

22. 2009-01-20
    listed $9,900 160-char remark

    Show marketing remark (160 chars)

    PROPERTY NEEDS REPAIR, HAS TWO ROOMS THAT DO NOT HAVE CLOSETS AND THUS ARE NOT CONSIDERED BEDROOMS; JUST A COUPLE BLOCKS FROM NORTH CAROLINA CENTRAL UNIVERSITY.

23. 2009-01-20
    listed $9,900 160-char remark

    Show marketing remark (160 chars)

    PROPERTY NEEDS REPAIR, HAS TWO ROOMS THAT DO NOT HAVE CLOSETS AND THUS ARE NOT CONSIDERED BEDROOMS; JUST A COUPLE BLOCKS FROM NORTH CAROLINA CENTRAL UNIVERSITY.

24. 2009-01-19
    historical
25. 2008-11-12
    listed $14,900
26. 2008-11-10
    historical
27. 2008-06-13
    listed $35,000
28. 2006-07-17
    soldstatus $75,000

ⓘ 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: $2,222 · $185/mo
• Projected year-2 tax: $2,222 · $185/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 ≥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: $21,509
• − Mortgage interest: −$8,957
• − Property taxes: −$2,222
• − Insurance: −$800
• − Repairs & maintenance: −$1,721
• − Management: −$1,721
• − Depreciation: −$4,652
• Taxable income: $1,437
• Est. tax owed @ 24.0%: −$345
• After-tax cash flow: $3,563/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

+119.9% since first listed

20 events — show timeline

• 2026-05-24 Pending — TMLS
• 2026-04-17 Price Changed $164,900 TMLS
• 2026-04-02 Price Changed $169,900 TMLS
• 2026-03-26 Price Changed $174,900 TMLS
• 2026-03-19 Price Changed $179,900 TMLS
• 2026-03-12 Price Changed $189,900 TMLS
• 2026-03-05 Price Changed $199,900 TMLS
• 2026-02-26 Price Changed $209,900 TMLS
• 2026-02-19 Price Changed $219,900 TMLS
• 2026-02-12 Listed $229,900 TMLS
• 2009-02-09 Sold (MLS) $9,900 AMLSNC
• 2009-02-09 Sold (MLS) $9,900 TMLS
• 2009-01-22 Listing Removed — TMLS
• 2009-01-20 Listed $9,900 AMLSNC
• 2009-01-20 Listed $9,900 TMLS
• 2009-01-19 Listing Removed — TMLS
• 2008-11-12 Listed $14,900 TMLS
• 2008-11-10 Listing Removed — TMLS
• 2008-06-13 Listed $35,000 TMLS
• 2006-07-17 Sold (Public Records) $75,000 Public Records

Property tax history

+8.8%/yr

Latest (2025): $2,222 · +142.0% YoY. Source: county tax records.