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Updated over 5 years ago on . Most recent reply

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Logan Eckstein
  • Rental Property Investor
  • Raleigh, NC
3
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10
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Why did the price on these homes drop so substantially?

Logan Eckstein
  • Rental Property Investor
  • Raleigh, NC
Posted

I was looking at some small multi-families on Zillow, just to analyze prices, when I came across a couple of homes in my area (Durham, NC) that had sold for around 500k in 2018. Now, in 2019, the homes are listed for around 250k, a 50% decrease from just one year ago. This doesn't seem to be a market trend, just a thing on these two duplexes. What could cause a price drop like this?

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38
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30
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Adam Ward
  • Investor
  • Raleigh, NC
30
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38
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Adam Ward
  • Investor
  • Raleigh, NC
Replied

I’m willing to bet multiple properties were purchased together in 2018 (one settlement statement, one deed) and now they are being pieced off and sold individually.  The Durham county property records have a link that directs you to the deed which would have more info on the original transaction.  Or yea talk to the owner or listing agent to get the full scoop.

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