Home Buying in 27703>Question Details

watertravele…, Home Buyer in Durham, NC

Buying investment propety near RTP!

Asked by watertraveler21, Durham, NC Mon Nov 5, 2012

am looking to buy a townhome/condo close to the RTP area. What neighborhoods are good for renting. What are the prospects for cash flow? Have done some research and I see quite a few luxury apartments around, what are the odds for renting here? Have done this before in Michigan, I understand this is a completely different market. I am looking for an agent with expertise in this area, please help.

Help the community by answering this question:


2Lot Available

Lot Size:2
Lot Type:
Commercial/ Other (land)
Commercial Investment property For sale by OWNER . Residential and Commercial lots for sale, on East campus of Duke University, (walking distance)DPAC(Durham Performing Arts Center)American Tobacco,Durham Bulls Games, NC of School of Math and Science,9th St.. Eno River.
Small Commercial Business lot, 3 story building possible and Large Residential Duplex !
One of Durham's oldest neighborhoods, Trinity Park is centrally located between Durham's central business district and Duke University's East Campus. Within a 40 square block of tree-lined streets and avenues, Trinity Park is filled with historic homes and buildings from the late-19th and early 20th centuries, which has earned the neighborhood a place on the National Register of Historic Districts. The distinctive architecture contained throughout Trinity Park makes the neighborhood a jewel within the city of Durham.

Corner of Buchanan Blvd. and Club Blvd. Across from North Gate Mall. Residential lot that is ready for Duplex and next door is Commercial lot ready for new 3 story building (skinny and long) footprint. Can walk to Duke's East Campus and 9th st.
0 votes Thank Flag Link Fri Jan 25, 2013
The rental market is very hot in the RTP area. A lot of people relocate to the area and rent for a year or more while they position themselves to buy. I specialize in investment real estate and do a very extensive analysis of each property to evaluate its cash flow potential. As you know, not all great deals end up being cash flow positive. I have several investors and to my knowledge, none are having troubles finding renters.

I invite you to send me an address of a property, any property, you are considering and I will provide you with the information you need to determine investment potential. If I pass the test, I would love to work with you on finding the best property for your needs.


Tammi Knapp
Coldwell Banker, HPW
0 votes Thank Flag Link Thu Dec 6, 2012
I did a quick scan of the RTP area and found the following property, 121 Tylerway Ln in Morrisville. This is not my listing, so don't think I am trying to sell it to you for my own benefit. I ran the numbers and this looks like a great rental property with a cap rate of 9.8%! I found this fairly quickly and could probably find a better one with a little more time and direction (price point, sqft, requirements, etc). Just wanted to give you an idea of what is available here in the Triangle.
Flag Thu Dec 6, 2012
Great to hear that you are interested in investing real estate in RTP area!

I have been working with many investors throughout the years and very familiar with the rental market. Myself is an investor as well since early 2000.

RTP area has been a great market for real estate investing due to its own unique characters. With our strong job market, great climate, many large or small well known companies, Research Triangle Park, and excellent universities, there is always a demand for rental homes.

Looking forward to hearing from you,

0 votes Thank Flag Link Mon Nov 5, 2012
Water Traveler, The brier creek area does well in rentals, Southpoint rents well also. The rental rates however for the Southpoint area may not be as much of a cash flow as you want. Morrisville will generally have a better return. I put a renter into a long term rental in Cary/Morrisville area in one of the urban townhomes and he is paying $1500 a month. It is a large, nice towhhome with a cook's kitchen and garage. Chapel Hill is also convenient to RTP and does well for rentals. I would be glad to help you if you have not yet selected your buyer's agent. I sell foreclosures often as well as new construction. I also will work with renters and assist my buyers in securing renters for their property. I own several investment properties myself. I am a NC Native of the Triangle so let me be first to say Welcome to NC. Let me know if I can be of further service and I hope this has been helpful.

Deborah Rigsbee Miller, Real Estate Broker, SFR
Coldwell Banker - HPW - Southpoint
0 votes Thank Flag Link Mon Nov 5, 2012
I work with investors reguarly and am familiar with most metrics used for evaluating properties. I have a number of questions before I could really begin to give you a detailed answer to your question but unless you're able to get a distressed sale I already know the cash flow or ROI won't be dazzling in the area you describe. I live here in Durham and know it well and there are areas here in Durham where you may find you do better. I'd like to have a conversation with you as I think it would be more productive than going back and forth by email. I'll be in my office most of the day tomorrow, feel free to give me a call. You can find out more about me either checking out my profile here on Trulia, Googling my name or looking at my website.
0 votes Thank Flag Link Mon Nov 5, 2012
My investors are really like the neighborhoods just west of RTP, near Southpoint Mall for their RTP rental market. The Auburn, Auburn Square, Copper Creek, and Wyndcross (town homes) neighborhoods are especially popular. These homes are relatively new and easy/cheap to maintain, close to Southpoint amenities and a very short hop to everywhere in RTP. Let me know if you'd like a list of current listings and their potential rents.

Toni Kemble, Broker/REALTOR
GRI, ABR, EcoBroker
Go Realty
C 919-624-1751
E toni@thekembleteam.com
W http://www.thekembleteam.com

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0 votes Thank Flag Link Mon Nov 5, 2012
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