Sunday, October 09, 2005

510 Davie Rd

When you first look at the listing information of 510 Davie Rd. it seems like a pretty good deal. A 1970 sq/ft detached home (two levels), 4 bedrooms/2 bathrooms, built in 1963. Very walkable to Carrboro's Farmer's Market and Weaver Street Market. So where's the catch?

After taking a look at this home it turns out that the house has been converted (or maybe possibly started out as) into a duplex. In other words the main level is a 2 bedroom/ 1 bath home, that is completely seperate from the downstairs 2 bedroom/ 1 bath. You can not access one level from the other, you have to go outside.

As one large home it is almost $99 per sq/ft. That's great for a detached home in Carrboro (remember the average price per sq/ft is $145 sq/ft). Overall, I believe that the value in this home lies within the purchaser's loan. If you can make the numbers work, a duplex is great for someone willing to live in half and rent out the extra space.