Fixer upper or tear-down? See what’s selling for less than $200K in the Triangle
Calling all “serious flippers, renovators and big dreamers,” one listing reads. Another puts it more plainly: “Sold as is.”
This week’s Price Point looks at homes that sold recently for under $200,000 and found choices in Durham and Raleigh. The most interesting find: A 1959 ranch home on a nearly 1.5-acre lot just east of downtown Durham.
To be clear: All are rough. The question then becomes: Tear down and build new, or work with what you get? Take a look and decide for yourself.
1606 Oakwood Ave, Raleigh, 27610
Sold: $175,000 on June 16
Single-family bungalow with two bedrooms and one and a half bathrooms on a .1-acre lot
Built in 1925, this home is in the College Park neighborhood east of downtown. It’s located one block from St. Augustine’s College. It’s about a 3-minute drive east to downtown Raleigh, and about a 25-minute drive northwest to Raleigh-Durham International Airport.
The 756-square-foot home offers a front porch, crown molding and fenced yard.
Price per square foot: $231
HOA fees: None
Taxes: $1,200 (estimated)
Last sold: 2015 for $65,000
Listed by: Richard Callahan, Raleigh Homes Realty
3225 Hursey St, Durham, 27703
Sold: $159,900 on May 31
Traditional ranch home with three bedrooms and one bathroom on a 1.37-acre lot
Built in 1959, the home is about an 11-minute drive west to downtown Durham, and about an 18-minute drive south to Raleigh-Durham International Airport.
The 1,066-square-foot home has hardwood floors in the living room and bedrooms. The kitchen and bathroom have been demoed. No HVAC system is present. Property being sold “as is,” the listing reads.
Price per square foot: $150
HOA fees: None
Taxes: $1,128 (estimated)
Last sold: Not available
Listed by: Alan Trammel, Trammel Brothers, Inc.
1218 Boyer St, Raleigh, 27610
Sold: $185,000 on May 31
Traditional ranch house with two bedrooms and one bathroom on a .05-acre lot
Built in 1930, this home is east of downtown, about a 2-minute drive to its center, and about a 23-minute drive north to Raleigh-Durham International Airport.
The 790-square-foot property is being sold “as is.” Listing reads: “Tear down and build new or renovate for immediate cash flow. Pending properties in the area in the $600k range.”
Price per square foot: $234
HOA fees: None
Taxes: $1,500 (estimated)
Last sold: 2011 for $25,000
Listed by: Dwayne Dixon, Chanticleer Properties
