908 Chester St · Durham, NC 27701

$90,000

2 bd · 1.5 ba · 1,195 sqft · SingleFamily public records · 23 Days on market

Built 1960 6,970 sqft lot

---

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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

In upset bid status, to upset it will take a bid of $104,186.25 at Clerk of Court office, end of 10 day period is 3/12/26. Call agent for my details. Investor special in Durham. Renovate or tear down and build new. Brick structure with significant fire damage--holes in roof, no ceilings. Original layout includes 2 bedrooms, 1 bath, living room, and kitchen/dining area. Property sold as-is. Great opportunity for experienced investors or builders. Please verify zoning, utilities, and redevelopment potential SellerSwith Planning/Zoning City of Durham. Recent appraisal in documents section.

Key facts

• 6,970 sq ft lot
• Built 1960
• Listed 23 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $721 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $89k (1.5% below list) — sets the bar for market timing.
• Cap rate 15.9% 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: Riverside High (math 49% / reading 42%, grade D-, #347 of 535 statewide, top 65%, 1,812 students, 51% FRL).
• 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 21d 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 $622 of loan paydown is wiped out by about $3k 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 $25k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price.
• 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 $88,650 (1.5% below list)

Questions for the listing agent

1. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 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: 2.00% ✓
• Cap rate: 15.90%
• Cash-on-cash: 34.31%
• DSCR: 2.53
• GRM: 4.2

CMA / ARV

• ARV (on-the-fly): $309,505
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
807 Eva St	0.24mi	3/2.0 (+1)	1,171 (-2%)	5mo	$309,900	$265	74
1318 N Alston Ave	0.40mi	3/2.0 (+1)	1,242 (+4%)	6mo	$307,000	$247	63
608 Canal St	0.47mi	3/2.0 (+1)	1,277 (+7%)	1mo	$460,000	$360	59
1112 N Driver St	0.31mi	2/1.0	1,036 (-13%)	4mo	$268,500	$259	58
707 Gray Ave	0.40mi	3/2.0 (+1)	1,307 (+9%)	6mo	$290,000	$222	54
407a Edward St	0.74mi	2/1.0	1,133 (-5%)	1mo	$374,000	$330	54
907 N Elizabeth St	0.61mi	3/2.5 (+1)	1,227 (+3%)	6mo	$475,000	$387	53
307 N Guthrie Ave	0.56mi	2/2.0	1,304 (+9%)	6mo	$350,000	$268	52
1319 Fay St	0.36mi	3/2.0 (+1)	1,334 (+12%)	7mo	$265,000	$199	51
1704 E Main St	0.68mi	3/2.0 (+1)	1,107 (-7%)	2mo	$205,000	$185	47
310 Peachtree Pl	0.61mi	3/2.5 (+1)	1,280 (+7%)	4mo	$295,000	$230	47
1609 Juniper St	0.58mi	3/1.0 (+1)	1,022 (-14%)	3mo	$163,750	$160	40

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: 30.1%
• Equity multiple: 2.26×
• Total profit: $31,843
• Equity at exit: $13,419

10-year hold

• IRR: 37.5%
• Equity multiple: 4.53×
• Total profit: $89,015
• Equity at exit: $7,782

Cash invested: $25,200 (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: 4.2×

Monthly cashflow live

• Estimated rent: $1,803 high
• Mortgage (P&I): −$472
• Tax from tax record: −$194 /mo · $2,329/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$379
• Net cashflow: $721

Break-even live

Break-even rent $891

Max offer price $90,000

Occupancy floor 55%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1104 Chester St Durham, NC	1.0	1.0	1300	$625	$0.48	23d	1	0.12mi
603 N Elm St Unit A Durham, NC	3.0	2.0	1200	$1,495	$1.25	23d	1	0.32mi
721 Liberty St Unit C Durham, NC	2.0	1.0	800	$1,495	$1.87	23d	1	0.33mi
406 N Hyde Park Ave Durham, NC	3.0	1.0	1160	$1,730	$1.49	21d	1	0.40mi
607 Dowd St Durham, NC	2.0	1.0	720	$1,550	$2.15	23d	1	0.48mi
807 E Main St Durham, NC	1.0	1.0	1000	$1,695	$1.70	23d	2	0.50mi
1609 Evergreen St Durham, NC	2.0	1.0	1051	$1,695	$1.61	21d	1	0.50mi
1136 Drew St Unit A Durham, NC	3.0	2.5	1390	$1,550	$1.12	14d	1	0.50mi
506 Gurley St Unit A Durham, NC	2.0	1.0	775	$1,300	$1.68	14d	1	0.51mi
910 Fiske St Unit B Durham, NC	2.0	1.0	750	$1,025	$1.37	23d	1	0.52mi
809 Lee St Durham, NC	1.0	1.0	1370	$580	$0.42	14d	1	0.52mi
809A Lee St Durham, NC	1.0	1.0	1370	$714	$0.52	23d	1	0.52mi
1600 N Alston Ave Unit C Durham, NC	2.0	1.0	800	$1,150	$1.44	14d	1	0.53mi
916 Fiske St Unit A Durham, NC	2.0	1.0	800	$1,050	$1.31	23d	1	0.53mi
1516 London Cir Durham, NC	3.0	1.0	1118	$1,650	$1.48	23d	1	0.63mi
1809 E Main St Durham, NC	3.0	1.0	1200	$1,700	$1.42	14d	1	0.66mi
500 E Main St Durham, NC	3.0	1.0–2.0	1002	$2,920	$2.91	14d	40	0.71mi
208 Gray Ave Apt 4H Durham, NC	2.0	1.0	800	$1,250	$1.56	23d	1	0.73mi
1828 Liberty St Unit B Durham, NC	2.0	1.0	1100	$1,450	$1.32	14d	1	0.76mi
464 E Pettigrew St Durham, NC	2.0	2.0	1091	$2,786	$2.55	14d	1	0.91mi
510 E Pettigrew St Durham, NC	3.0	1.0–2.0	996	$2,510	$2.52	14d	29	0.91mi
1911 Fidelity Dr Durham, NC	3.0	2.0	1209	$1,815	$1.50	23d	1	0.92mi
2408 Hart St Durham, NC	3.0	1.0	960	$1,445	$1.51	23d	1	0.93mi
504 E Pettigrew St Durham, NC	3.0	1.0–2.0	1092	$2,255	$2.07	21d	30	0.94mi
504 E Pettigrew St Durham, NC	2.0	1.0–2.0	1025	$2,219	$2.16	14d	35	0.94mi
441 S Dillard St Durham, NC	1.0–3.0	1.0–2.5	1153	$2,454	$2.13	14d	21	0.96mi
200 W Geer St Unit 200-C Durham, NC	2.0	1.0	850	$1,400	$1.65	14d	1	0.97mi
2113 Angier Ave Apt B Durham, NC	2.0	1.0	925	$1,300	$1.41	23d	1	0.98mi
311 W Corporation St Unit 3-201 Durham, NC	2.0	2.0	985	$3,355	$3.41	23d	1	1.01mi
311 W Corporation St Durham, NC	2.0	1.0–2.0	691	$3,505	$5.07	21d	5	1.01mi
615 N Hardee St Durham, NC	3.0	2.0	1250	$1,690	$1.35	14d	1	1.01mi
321 W Corporation St Durham, NC	2.0	2.0	977	$2,530	$2.59	14d	1	1.01mi
109 W Main St #402 Durham, NC	2.0	1.5	1296	$2,695	$2.08	23d	1	1.02mi
110 N Corcoran St Durham, NC	1.0–2.0	1.0–2.0	1219	$4,594	$3.77	14d	8	1.02mi
701 Grant St Durham, NC	3.0	2.0	1145	$1,850	$1.62	23d	1	1.03mi
815 Madison St Durham, NC	2.0	1.0–2.0	859	$2,854	$3.32	21d	5	1.05mi
318 W Corporation St Durham, NC	3.0	1.0–2.0	900	$2,934	$3.26	14d	55	1.05mi
518 N Hardee St Durham, NC	1.0–2.0	1.0–1.5	665	$1,299	$1.95	23d	1	1.09mi
511 S Mangum St Durham, NC	3.0	1.0–2.0	1159	$3,278	$2.83	14d	29	1.10mi
530 Foster St Durham, NC	2.0	1.0–2.0	918	$2,750	$3.00	14d	18	1.11mi

Listing history 2 events

1. 2026-03-12
   status Pending
2. 2026-02-17
   listed $90,000 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: $2,329 · $194/mo
• Projected year-2 tax: $2,329 · $194/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: $21,632
• − Mortgage interest: −$5,041
• − Property taxes: −$2,329
• − Insurance: −$450
• − Repairs & maintenance: −$1,731
• − Management: −$1,731
• − Depreciation: −$2,618
• Taxable income: $7,733
• Est. tax owed @ 24.0%: −$1,856
• After-tax cash flow: $6,791/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

2 events — show timeline

• 2026-03-12 Pending — TMLS
• 2026-02-17 Listed $90,000 TMLS

Property tax history

+4.5%/yr

Latest (2025): $2,329 · +78.2% YoY. Source: county tax records.