$1,990,000

2209 Morehead Ave Durham, NC 27707

Duke Forest Neighborhood

Estimated payment $12,165/month

Total Views 149
22 Beds
13 Baths
9,148 Sq Ft
$218 Price per Sq Ft

Highlights

  • Popular Property
  • Transitional Architecture
  • Brick Veneer
  • Lakewood Montessori Middle School Rated A-
  • Wood Flooring
  • Central Heating and Cooling System

About This Home

Investor Opportunity - Renovated MF Near Duke | 5.5% Cap | Stable Rents + UpsideCharming, fully leased multifamily asset less than 1 mile from Duke University, offering strong in-place cash flow and a 5.6% cap rate. Unit mix includes rare 3BR/2BA and 2BR/2BA layouts that attract long-term tenants seeking single-family alternatives. Recent upgrades: new roof, HVAC system upgrades, drainage improvements, modernized kitchens/baths, and selective interior renovations (hardwoods, appliances, reconfigured closets). Additional Low turnover, proven rental history, and walkable yet private setting. Ideal for investors seeking stable performance with value-add levers.

Listing Agent

Ed Billings

Compass -- Chapel Hill - Durham License #201236 Listed on: 06/12/2025

Compass -- Chapel Hill - Durham

Co-Listing Agent

Brooke Gelhaus

Compass -- Chapel Hill - Durham License #352774

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $12,565

Year Built

  • Built in 1960

Home Design

  • Transitional Architecture
  • Brick Veneer
  • Brick Foundation
  • Shingle Roof

Interior Spaces

  • 3-Story Property
  • Natural lighting in basement

Flooring

  • Wood
  • Carpet
  • Luxury Vinyl Tile

Bedrooms and Bathrooms

  • 22 Bedrooms
  • 13 Full Bathrooms

Parking

  • On-Site Parking
  • 8 Open Parking Spaces

Utilities

  • Central Heating and Cooling System

Community Details

  • 2 Buildings
  • 9 Units

Listing and Financial Details

  • Assessor Parcel Number 0821-05-6967 and 0821-05-5967

Property Details

Home Type

Condominium

Est. Annual Taxes

$12,565

Year Built

Built in 1960

Lot Details

0

Listing Details

  • Year Built: 1960
  • Prop. Type: Residential Income
  • Co List Office Mls Id: 80813
  • Co List Office Phone: 919-999-8482
  • Subdivision Name: Not in a Subdivision
  • Above Grade Finished Sq Ft: 7320.0
  • Unit Levels: Three Or More, Two
  • New Construction: No
  • General Property Information Basement YN: Yes
  • Architectural Style Transitional: Yes
  • Cooling Central Air: Yes
  • Flooring Luxury Vinyl: Yes
  • Sewer:Public Sewer: Yes
  • Water Source Public: Yes
  • Flooring Carpet: Yes
  • Flooring Hardwood: Yes
  • Levels Two: Yes
  • Levels Three Or More: Yes
  • Foundation Details BrickMortar: Yes
  • Roof:Shingle: Yes
  • Contract Information Lease Term: Other
  • General Property Information Above Grade Finished Area: 7320.0
  • General Property Information Below Grade Finished Area: 1828.0
  • General Property Information Number Of Units Total3: 9.0
  • General Property Information Lot Size Square Feet2: 43995.6
  • General Property Information Number Of Buildings2: 2.0
  • General Property Information Lot Size Acres: 1.01
  • Special Features: None
  • Property Sub Type: Condos

Interior Features

  • Flooring: Carpet, Hardwood, Luxury Vinyl
  • Basement: Daylight
  • Basement YN: Yes
  • Full Bathrooms: 13
  • Total Bedrooms: 22
  • Below Grade Sq Ft: 1828.0
  • Basement:Daylight: Yes

Exterior Features

  • Roof: Shingle
  • Acres: 1.01
  • Construction Type: Brick Veneer
  • Foundation Details: Brick/Mortar
  • Construction Materials:Brick Veneer: Yes

Garage/Parking

  • Attached Garage: No
  • Open Parking Spaces: 8.0
  • Open Parking: Yes
  • Parking Features: On Site
  • Parking Features:On Site: Yes
  • General Property Information:Open Parking YN2: Yes
  • General Property Information:Open Parking Spaces2: 8.0

Utilities

  • Heating: Central
  • Cooling: Central Air
  • Cooling Y N: Yes
  • HeatingYN: Yes
  • Water Source: Public
  • Heating:Central: Yes

Lot Info

  • Zoning: RS-M
  • Lot Size Sq Ft: 43995.6
  • ResoLotSizeUnits: Acres
  • Parcel #: 0821-05-6967 and 0821-05-5967

Rental Info

  • Lease Term: Other
  • Owner Pays: Grounds Care, Insurance, Taxes, Trash Collection

Tax Info

  • Tax Annual Amount: 12565.0
  • Tax Year: 2024

Multi Family

  • Number Of Units Total: 9

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Source: Doorify MLS

MLS Number: 10102564

Doorify MLS

North Carolina Durham County Durham 27701 Duke Forest

2209 Morehead Ave, Durham, NC

This home is located at 2209 Morehead Ave, Durham, NC 27707 and is currently priced at $1,990,000, approximately $217 per square foot. This property was built in 1960. 2209 Morehead Ave is a home located in Durham County with nearby schools including Lakewood Elementary School, Morehead Montessori, and Lakewood Montessori Middle School.

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Doorify MLS Some IDX listings have been excluded from this IDX display. Brokers make an effort to deliver accurate information, but buyers should independently verify any information on which they will rely in a transaction. The listing broker shall not be responsible for any typographical errors, misinformation, or misprints, and they shall be held totally harmless from any damages arising from reliance upon this data. This data is provided exclusively for consumers’ personal, non-commercial use. Listings marked with an icon are provided courtesy of the Doorify MLS, Inc. of North Carolina, Internet Data Exchange Database. Closed (sold) listings may have been listed and/or sold by a real estate firm other than the firm(s) featured on this website. Closed data is not available until the sale of the property is recorded in the MLS. Home sale data is not an appraisal, CMA, competitive or comparative market analysis, or home valuation of any property. Copyright 2025 Doorify MLS, Inc. of North Carolina. All rights reserved.

Nearby Homes
Listing Agent
Ed Billings
Section Image
Compass -- Chapel Hill - Durham
(919) 887-8305