2412 Nebo St · Durham, NC 27707

$130,000

2 bd · 2.0 ba · 1,052 sqft · MultiFamily public records · 51 Days on market

Built 1948 8,276 sqft lot

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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 +26.7/30.0
• DSCR +9.2/10.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• Livability +4.0/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Rare opportunity to own an income producing property just seconds to NCCU. 2412/2414 sits on . 2 acres and is individually metered for both electric and water. * * Accepting FULL price, CASH offers only! * *

Key facts

• Individually metered
• Duplexes
• Seconds to nccu

Tags

• INCOME PRODUCING PROPERTIES
• DUPLEXES
• INDIVIDUALLY METERED
• SECONDS TO NCCU

Property features AI

Finance

• Other: County: Durham
• Financial info: Four total units (multi-family property); Owner pays: none
• HOA & community: No homeowners association

Exterior

• Parking: Driveway with 2 open parking spaces
• Utilities: Public water; Public sewer
• Home design: Duplex; One level
• Construction: Wood siding construction; Built area approximately 1,000 total building area
• Exterior features: Shingle roof; Lot roughly 0.19 acres; Zoned R-5; Public maintained road access

Interior

• Bedrooms: 2 bedrooms
• Flooring: Carpet; Linoleum
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Carpet and linoleum flooring

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $130k.

Deal economics

• At list price, monthly cash flow is $353 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.6% 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 soft (-1.2%/yr); 299 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $899 of loan paydown is wiped out by about $4k 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 51 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $55k (30%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; list at $130k implies a 160% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — 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 $126,100 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.23% ✓
• Cap rate: 9.55%
• Cash-on-cash: 11.63%
• DSCR: 1.52
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -2.4%
• Equity multiple: 0.91×
• Total profit: $-3,233
• Equity at exit: $19,383

10-year hold

• IRR: 3.6%
• Equity multiple: 1.23×
• Total profit: $8,192
• Equity at exit: $11,240

Cash invested: $36,400 (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 27707

• Rents YoY: -1.2%
• Active inventory: 299
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,593 high
• Mortgage (P&I): −$682
• Tax from tax record: −$170 /mo · $2,041/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $353

Break-even live

Break-even rent $1,147

Max offer price $130,000

Occupancy floor 73%

Sensitivity live

Price	-10% $426	-5% $390	+0% $353	+5% $316	+10% $279
Rent	-10% $227	-5% $290	+0% $353	+5% $416	+10% $479
Rate	-1.0pp $418	-0.5pp $386	base $353	+0.5pp $319	+1.0pp $285

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
515 Burlington Ave Unit A Durham, NC	2.0	1.0	763	$1,200	$1.57	24d	1	0.20mi
520 Cecil St Durham, NC	3.0	1.0	900	$1,800	$2.00	15d	1	0.28mi
827 Elmira Ave Durham, NC	3.0	1.0	1218	$1,630	$1.34	24d	1	0.35mi
901 Elmira Ave Durham, NC	3.0	1.0	960	$1,595	$1.66	15d	1	0.37mi
2727 Atlantic St Durham, NC	3.0	1.0	1036	$1,595	$1.54	15d	1	0.40mi
2305 Fitzgerald Ave Durham, NC	3.0	2.5	1408	$2,000	$1.42	24d	1	0.41mi
412 E Pilot St Durham, NC	1.0–2.0	1.0	643	$1,075	$1.67	24d	6	0.60mi
1313 S Alston Ave Durham, NC	3.0	1.0	1350	$1,750	$1.30	15d	1	0.61mi
1301 S Alston Ave Durham, NC	2.0	1.0	994	$1,495	$1.50	15d	1	0.65mi
1107 Dayton St Durham, NC	2.0	1.5	1050	$1,350	$1.29	15d	1	0.66mi
1107 Dayton St Durham, NC	2.0	1.5	1050	$1,350	$1.29	24d	1	0.66mi
1819 Cecil St Durham, NC	3.0	2.0	1105	$1,795	$1.62	24d	1	0.71mi
813 Dupree St Durham, NC	2.0	2.0	1027	$1,650	$1.61	15d	1	0.73mi
1012 S Alston Ave Apt C Durham, NC	2.0	1.0	750	$1,150	$1.53	24d	1	0.77mi
1101 S Alston Ave Durham, NC	1.0	1.0	1433	$935	$0.65	22d	1	0.78mi
1002 Bacon St Durham, NC	3.0	2.0	1028	$1,850	$1.80	24d	1	0.83mi
411 Dunstan Ave Durham, NC	3.0	2.0	1091	$2,500	$2.29	24d	1	0.83mi
1000 Linwood Ave Durham, NC	3.0	2.0	1150	$2,400	$2.09	15d	1	0.93mi
3528 Arlington St Durham, NC	3.0	1.5	1053	$1,850	$1.76	24d	1	0.95mi
2314 S Roxboro St Unit A Durham, NC	2.0	1.0	750	$1,170	$1.56	24d	1	0.97mi
2314 S Roxboro St Durham, NC	2.0	1.0	750	$1,145	$1.53	24d	1	0.97mi
2312 S Roxboro St Durham, NC	2.0	1.0	750	$1,145	$1.53	24d	1	0.97mi
704 Bacon St Durham, NC	2.0	1.0	744	$1,495	$2.01	24d	1	1.07mi
514 E Umstead St Durham, NC	3.0	2.0	1134	$1,625	$1.43	24d	1	1.08mi
116 E Cornwallis Rd Durham, NC	1.0	1.0	1013	$600	$0.59	24d	1	1.10mi
701 Grant St Durham, NC	3.0	2.0	1145	$1,850	$1.62	24d	1	1.13mi
2146 Charles St #54 Durham, NC	2.0	1.5	1080	$1,250	$1.16	24d	1	1.15mi
3 Fisher Pl Durham, NC	2.0	1.5	752	$1,100	$1.46	24d	1	1.16mi
1114 South St Durham, NC	3.0	2.5	1418	$3,000	$2.12	24d	1	1.17mi
2911 Beechwood Dr Durham, NC	3.0	1.5	1189	$1,965	$1.65	24d	1	1.27mi
813 Fargo St Durham, NC	1.0	1.0	1240	$675	$0.54	24d	1	1.33mi
703 S Roxboro St Durham, NC	2.0	1.0–2.0	1113	$1,696	$1.52	24d	16	1.40mi
800 Fargo St Durham, NC	1.0	1.0	1112	$750	$0.67	15d	1	1.41mi
800 Fargo St Unit B1 Durham, NC	2.0	2.0	1112	$1,780	$1.60	24d	1	1.41mi

Listing history 18 events

1. 2026-06-14
   days on market $130,000 Active 51 DOM
2. 2026-06-10
   days on market $130,000 Active 48 DOM
3. 2026-06-09
   days on market $130,000 Active 47 DOM
4. 2026-06-09
   remarks 209-char remark
5. 2026-06-09
   pricestatus $130,000 Active 46 DOM
6. 2026-05-21
   status Pending
7. 2026-05-18
   price $145,000
8. 2026-05-13
   status Active
9. 2026-05-13
   price $155,000
10. 2026-04-21
    status Pending
11. 2026-04-06
    price $165,000
12. 2026-03-27
    price $175,000
13. 2026-03-13
    listed $185,000 Active
14. 2026-01-29
    historical
15. 2026-01-07
    price $187,500
16. 2025-12-02
    price $189,000
17. 2025-11-11
    listed $195,000 Active
18. 2000-10-13
    soldstatus $50,000

ⓘ 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: $2,041 · $170/mo
• Projected year-2 tax: $2,041 · $170/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: $19,121
• − Mortgage interest: −$7,282
• − Property taxes: −$2,041
• − Insurance: −$650
• − Repairs & maintenance: −$1,530
• − Management: −$1,530
• − Depreciation: −$3,782
• Taxable income: $2,307
• Est. tax owed @ 24.0%: −$554
• After-tax cash flow: $3,680/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): 51,274
• Household income: $74,406
• Rent vs Own: 52.3% rent · 47.7% own
• Severe rent burden: 2274.0

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 0.70)
• Race & ethnicity: White 40% Black 33% Hispanic / Latino 17% Two or more races 9% Asian 5%
• Hispanic origin (detail): Mexican 7% Cuban 1%
• Common ancestry: Romanian 2% Lithuanian 2% Slovak 2%
• Foreign-born: 16% · Canada, China, South Korea
• Languages at home: 79% English-only · Spanish 14% Other Indo-European 1% Chinese 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: ▼ -467.75%
• Current HPI: 262.9732
• Rent YoY: ▼ -1.16%
• 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

+190.0% since first listed

13 events — show timeline

• 2026-05-21 Pending — TMLS
• 2026-05-18 Price Changed $145,000 TMLS
• 2026-05-13 Relisted — TMLS
• 2026-05-13 Price Changed $155,000 TMLS
• 2026-04-21 Pending — TMLS
• 2026-04-06 Price Changed $165,000 TMLS
• 2026-03-27 Price Changed $175,000 TMLS
• 2026-03-13 Listed $185,000 TMLS
• 2026-01-29 Listing Removed — TMLS
• 2026-01-07 Price Changed $187,500 TMLS
• 2025-12-02 Price Changed $189,000 TMLS
• 2025-11-11 Listed $195,000 TMLS
• 2000-10-13 Sold (Public Records) $50,000 Public Records

Property tax history

+8.9%/yr

Latest (2025): $2,041 · +57.2% YoY. Source: county tax records.