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$460,000

Sale Pending
408 E Maynard Ave, Durham, NC 27704
3 Beds
2 Baths
1,328 Square Feet
0.24 Acres Lot
Built in 1937
Sale Pending
Units n/a
Checked: 2 hours ago
Updated: Jun 14, 2025 at 03:04AM

Investment Summary


Monthly Cash Flow
-$1,531
Cap Rate
2.3%
Cash-on-Cash Return
-17.4%
Debt Coverage Ratio
0.36
Internal Rate of Return (5 years)
-12.8%

Property Description


0.24 Acres Lot
Built in 1937
Sale Pending
Units n/a

Come and see the best of classic bungalow design in this 1937 home with all of the benefits new construction brings. This amazingly designed and renovated home has been reimagined from the ground up. Return to your personal retreat each day and enjoy the peaceful open living space complemented by new hardwood floors, quartz counter tops, a custom kitchen island and high end cabinetry. Cook for a crowd with all new kitchen appliances and be the envy of your friends with your new custom range hood, tile backsplash and designer fixtures. Inside you have plenty of room for guests to stay as long as they like. Your friends and family will be able to spread out in either of the two spacious guest bedrooms. You'll be ready to entertain a crowd at a moment's notice in the nearly 1/4 acre lot surrounding this well appointed home. Refresh each night and feel brand new each morning as you relax in the primary ensuite's oversized custom tile shower complemented by a hand crafted custom vanity, sconce lighting, designer tile flooring and granite counter tops. Speaking of new, almost everything in this home has been replaced! You'll get peace of mind with all new plumbing fixtures, drain lines and water supply lines both in the home and in the crawlspace. Your new home also features entirely new electrical and HVAC systems as well. These include all new wiring, indoor and outdoor electrical panels, new duct work and new air conditioning and heat pump. Thats not all either! The home boasts new roof, new windows, new gutters, new siding and new an oversized newly constructed deck to highlight your time outdoors as well as to keep your safe from the elements outside. To finish off the list of new items this property also features new sheetrock, paint, cabinetry, lighting, doors, trim work, and landscaping. Every major system has been replaced so that you can buy with confidence and rest easy knowing this home will last for the next 100 years just like it did the last 100 years. No corners have been cut in this remodel. Between the thorough engineering and construction and the design-forward features there's no better choice on the market for you to call ''home''. Come take a look and make this home yours before someone else does! The listing agent for this home is also the owner and licensed general contractor.

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Location


Property Details


Parking

  • Details: Driveway
  • Garage Spaces: 0
  • Spaces Total: 2

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 2.0

Interior Features

  • # of Rooms: 8
  • # of Stories: 1
  • Fireplace: Yes

Exterior Features

  • Foundation: Pillar/Post/Pier
  • Roof Material: Shingle

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 119882
  • Lot Size: 10454 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Bungalow
  • Year Built: 1937

Tax Information

  • Annual Tax: $1,052

Utilities

  • Water & Sewer: Public
  • Heating: Heat Pump
  • Cooling: Electric

Location

  • County: Durham

Listing Details


Listed by:
Austin Charles Abney
Aimee Anderson & Associates
(919) 946-1616

Source:
Triangle MLS (Doorify MLS)
MLS#: 10091664
Triangle MLS (Doorify MLS)

Investment Summary


Monthly Cash Flow
-$1,531
Cap Rate
2.3%
Cash-on-Cash Return
-17.4%
Debt Coverage Ratio
0.36
Internal Rate of Return (5 years)
-12.8%

Purchase Details

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Purchase price:
$460,000
Amount financed:
-$368,000
Down payment:
$92,000
Closing costs:
$13,800
Rehab costs:
$0
Initial cash invested:
$105,800
Square feet:
1,328
Cost per square foot:
$346
Monthly rent per square foot:
$1.05

Financing Details

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Loan amount:
$368,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.840%
Principal & interest:
$2,409
Property tax:
$88
Insurance:
$98
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,595

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,400 $16,800
Vacancy loss: (6%)
6% -$84 -$1,008
Operating income:
$1,316 $15,792

Operating Expenses


% Rent Monthly Yearly
Property taxes: (6%)
6%-$88-$1,053
Insurance: (7%)
7%-$98-$1,176
Property management: (8%)
8%-$112-$1,344
Repairs & maintenance: (5%)
5%-$70-$840
Capital expenditures: (5%)
5%-$70-$840
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (31%)
31%-$438-$5,253

Cash Flow


Monthly Yearly
Net operating income:
$878 $10,536
Mortgage payments:
-$2,409 -$28,908
Cash flow:
$1,531 $18,372