702 Linwood Ave, Durham, NC 27701

For sale (with OWNER FINANCING!) is a 5 bedroom/1.5 bath single family home in downtown Durham near NCCU's campus and right across the street from the Lincoln Community Health Center. This home is great for either an owner occupant or an investor and was previously rented for $1,750/month (the living room was converted to a 5th bedroom but could easily be returned to the original set up). Some updates have occurred, including flooring, paint, and a bathroom remodel. The kitchen is functional but could use an update and thus the house is priced accordingly; if updated, the rent could be increased significantly. There is a nice sized deck off the kitchen and large driveway area for numerous cars. House has aluminum siding, central heat and air, a new 30-year architectural roof, and updated electrical panel and newer water heater. The house is all electric (no gas). This property also offers a unique opportunity since it is on a corner lot, making it possible to create a new, "small lot", which only has to be 2,000 sq. ft total and will fit with the required setbacks (see Durham UDO for more details about the "small lot" option and to fully verify your ability to do so). Thus, you have numerous options: 1) the "small" lot could be sold off separately of the existing house; 2) the "small" lot could have a new house built on it and you end up with 2 properties; or 3) an accessory dwelling unit (ADU) could be built on the existing lot with the house and not have to create a new lot. No matter the choice, there is a significant opportunity to have a value-add ability with this property. Lastly, please note that I am only looking to sell this property with owner financing / seller financing. NO CASH OFFERS NOR TRADITIONAL LOANS will be considered. The terms of the owner financing are firm and are as follows: a 15% down payment of the purchase price will be required, with the remaining balance financed at a fixed rate of 7.75% for any length amortization period (between 10 years to 40 years) that the buyer prefers. This home would work great for either an owner occupant or an investor. Please call or email if you have any further questions or want to set up a time to view the property! No wholesaling/assignment of contracts will be considered so please do not ask!