Townhouse / Rowhouse home in Durham, NC
This 1,596-square-foot Townhouse home in Durham, NC includes 3 bedrooms and 3 bathrooms. Its Townhouse character defines the property's look.
| Price | $303,000 |
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| Beds | 3 |
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| Baths | 3 |
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| Sqft | 1596 |
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| Architectural style | Townhouse / Rowhouse (97% match) |
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| Address | 4004 Phelps Lake Dr, Durham, NC 27704 |
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Why buy this home
- Confirmed Townhouse / Rowhouse architecture, matched from the listing photos by Enzo's vision model.
- Links directly to the original source listing on Zillow.
Is this a good buy?
Priced below comparable homes.
- At $303K, this home is 10% below the $338K median for 227 similar Townhouse / Rowhouse homes in Durham, NC.
- That works out to $190 per square foot, 5% below the $200 comparable rate.
- On the market 16 days.
| This home | $303,000 |
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| Townhouse / Rowhouse median in Durham, NC | $338,000 (227 homes) |
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| Price per sq ft | $190 vs. $200 comps median |
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Enzo's reads public listing data and links to the original source. Confirm condition, HOA, taxes and fees there. This is a signal, not advice.
What it costs to own
Estimated at $1,979/month with 20% down at a 7.28% 30-year fixed rate. You would need about $84,823 in gross annual income to keep housing within a 28% ratio.
| Mortgage (P&I) | $1,659/mo |
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| Property tax (new-buyer reassessed rate) | $207/mo |
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| Homeowners insurance | $114/mo |
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| Total monthly | $1,979/mo |
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| Down payment (20%) | $60,600 |
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| Income needed | $84,823/yr |
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A signal to compare homes, not financial advice or a loan offer.
Financial outlook (modeled)
Enzo's grades this home B- (69 out of 100) over a 5-year hold, from a Monte-Carlo of local home-price dynamics and the interest-rate path versus renting.
| Grade | B- (69/100) |
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| Beats renting in | 26% of modeled paths |
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| Modeled 5-yr equity (median) | $162,561 |
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| Range (10th to 90th pct) | $99,821 to $234,460 |
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A probabilistic model built on public data (Zillow ZHVI, FRED rates), not a guarantee or financial advice. Local price dynamics are pooled toward Durham, NC where local data is thin.
Local home values
Typical home values in Durham, NC have risen about 21% over the past 5 years (-2% in the last year), per the Zillow Home Value Index. This reflects the metro market, not this specific home.
View this home on Zillow