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$256,000

For Sale - Active
807 W Trinity Ave Apt 209, Durham, NC 27701
1 Bed
1 Bath
551 Square Feet
0.00 Acres Lot
Built in 1972
For Sale - Active
Units n/a
Checked: 15 hours ago
Updated: Jul 28, 2025 at 04:21AM

Investment Summary


Monthly Cash Flow
-$841
Cap Rate
1.7%
Cash-on-Cash Return
-17.1%
Debt Coverage Ratio
0.31
Internal Rate of Return (5 years)
-12.6%

Property Description


0.00 Acres Lot
Built in 1972
For Sale - Active
Units n/a

Pearl Mill Flats offers a wonderful community mix of owner occupants and short and long term renters. It is one of the few complexes that allow AirBnb as well. The complex boasts of a beautifully landscaped courtyard with outdoor games, BBQ/sitting areas and a salt water pool. Sip coffee with WIFI access amidst the birds, butterflies and bunnies! It is within walking distance to downtown and the Warehouse District where you will find many fine restaurants, coffee shops and bars, the Farmer's Market and the old Durham Bulls Stadium. The UOA dues includes water and Spectrum TV and WIFI.

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Location


Property Details


Parking

  • Description: Additional Parking, Parking Lot
  • Garage Spaces: 0
  • Spaces Total: 166

Bedroom Information

  • # of Bedrooms: 1

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Total): 1.0

Interior Features

  • # of Rooms: 3

Exterior Features

  • Foundation: Slab
  • Roof Material: Flat, Mansard, Membrane
  • Pool Community: Yes

HOA

  • Has HOA: Yes
  • HOA Fee: $387/monthly

Land Information

  • Land Use: Residential
  • Land Use Subtype: Condominium Unit

Lot Information

  • Parcel ID: 197744
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Style: Traditional
  • Year Built: 1972

Tax Information

  • Annual Tax: $1,684

Utilities

  • Water & Sewer: Public
  • Heating: Central, Electric
  • Cooling: Ceiling Fan(s), Central Air, Electric

Location

  • County: Durham

Listing Details


Listed by:
Cynthia M DeConto
Cineron Realty
(603) 682-2915

Source:
Triangle MLS (Doorify MLS)
MLS#: 10104592
Triangle MLS (Doorify MLS)

Investment Summary


Monthly Cash Flow
-$841
Cap Rate
1.7%
Cash-on-Cash Return
-17.1%
Debt Coverage Ratio
0.31
Internal Rate of Return (5 years)
-12.6%

Purchase Details

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Purchase price:
$256,000
Amount financed:
-$204,800
Down payment:
$51,200
Closing costs:
$7,680
Rehab costs:
$0
Initial cash invested:
$58,880
Square feet:
551
Cost per square foot:
$465
Monthly rent per square foot:
$2.36

Financing Details

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Loan amount:
$204,800
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$1,211
Property tax:
$140
Insurance:
$91
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,442

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,300 $15,600
Vacancy loss: (6%)
6% -$78 -$936
Operating income:
$1,222 $14,664

Operating Expenses


% Rent Monthly Yearly
Property taxes: (11%)
11%-$140-$1,685
Insurance: (7%)
7%-$91-$1,092
Property management: (8%)
8%-$104-$1,248
Repairs & maintenance: (5%)
5%-$65-$780
Capital expenditures: (5%)
5%-$65-$780
HOA fees: (30%)
30%-$387-$4,644
Total operating expenses: (66%)
66%-$852-$10,229

Cash Flow


Monthly Yearly
Net operating income:
$370 $4,440
Mortgage payments:
-$1,211 -$14,532
Cash flow:
$841 $10,092