New Construction Multifamily
For Sale
$1,100,000
105 E Highfill Avenue, Liberty, NC 27298
Residential Income, Liberty, NC
Property Size6,237 SF
Lot Size0.71 Acres
Price / SF$176.37
Days on Market236
Property Features for 105 E Highfill Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
B-2
Bedrooms
12
Bathrooms
8
Full bathrooms
8
Rooms
Bedroom 8, Bedroom 9, Bathroom 2, Bathroom 6, Bedroom 7, Bedroom 2, Bedroom 1, Bathroom 7, Bedroom 6, Bedroom 4, Bedroom 3, Bedroom 11, Bathroom 1, Bathroom 3, Bedroom 12, Bedroom 5, Bedroom 10, Bathroom 5, Bathroom 4, Bathroom 8
Parking
8
Parking features
Parking Lot, Open
Subdivision
Not in a Subdivision
Elementary school
Randolph County Schools
Middle school
Randolph County Schools
High school
Randolph County Schools
Standard status
Active
APN
8736-07-7012
Size
6,237 SF
Lot size
0.71 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Deed Book 2960 Page 443 REID #78834
Tax Annual Amount
4636
Legal Description
Deed Book 2960 Page 443 REID #78834
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating), Central, Electric (Heating), Zoned
Cooling system
Central Air, Multi Units, Heat Pump, Electric, Ceiling Fan(s), Separate Meters
Water source
Public
Building Details
Year built
2025
Floors in Building
3
Number of units
4
Flooring type
Vinyl
Building materials
Block, Vinyl Siding
Roof type
Shingle
Listing Agency:
Harris Realty & Auction
(919) 742-3286
Listed By:
Scott Harris · License #159569
(919) 498-4077
Added: Jan 12
Changed: Aug 31
Last Checked: Sep 5 at 11:06PM
MLS# 10141258
Copyright © 2026 Doorify MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Completed in 2025, this multifamily property comprises two duplex buildings on a 0.71-acre lot, totaling four residential units and 6,237 square feet. Each unit measures approximately 1,559 square feet and includes three bedrooms, two bathrooms, granite countertops, soft-close cabinetry, luxury vinyl plank flooring, and appliances that convey. Construction details include spray foam attic insulation, 2-inch dense glass firewalls between units, composite stairs, and multi-zone HVAC with independent controls by floor.
Outdoor features vary by unit. Units 109 and 111 have elevated decks with Trex Rain Escape systems above concrete patios, while Units 105 and 107 offer covered upper decks. The property has public water and public sewer, shingle roofing, block and vinyl siding, open parking, and B-2 zoning.
Located in downtown Liberty, the property offers walking access to restaurants, coffee shops, and community amenities. Toyota Battery Manufacturing North Carolina is just over 4 miles away. Three units are leased, and the fourth operates as an Airbnb.
Outdoor features vary by unit. Units 109 and 111 have elevated decks with Trex Rain Escape systems above concrete patios, while Units 105 and 107 offer covered upper decks. The property has public water and public sewer, shingle roofing, block and vinyl siding, open parking, and B-2 zoning.
Located in downtown Liberty, the property offers walking access to restaurants, coffee shops, and community amenities. Toyota Battery Manufacturing North Carolina is just over 4 miles away. Three units are leased, and the fourth operates as an Airbnb.
Key Highlights
- 2025 construction with four residential units across two duplex buildings
- 6,237 square feet on 0.71 acres; each unit is approximately 1,559 square feet
- Each unit includes 3 bedrooms, 2 bathrooms, granite counters, LVP flooring, and conveying appliances
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$55,650
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.06%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,113,000
$1.1M
Cap Rate 7%
$795,000
$795.0K
Cap Rate 9%
$618,333
$618.3K
Market Conditions
NOI Build-Up for 6,237 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$84.6K $13.56/SF
− Vacancy
−$5.1K −$0.81/SF
EGI
$79.5K $12.75/SF
− OpEx
−$23.8K −$3.82/SF
NOI
$55.6K $8.92/SF
Area
Randolph County, NC
Vacancy
6.00%
Lease Rate
$13.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,113,000
Cap Rate 7%
$795,000
Cap Rate 9%
$618,333
Alternative Uses
Best Use
Multifamily LT 5
$795.0K
$695.6K – $927.5K
NOI $55,650 @ 7.0% cap · market cap 5.06%
Second Best
Apartment 5plus
$715.1K
$625.7K – $834.3K
NOI $50,056 @ 7.0% cap · market cap 4.55%
Theoretical Best
Office A
$2.15M
$1.88M – $2.50M
NOI $150,184 @ 7.0% cap · market cap 13.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
277
Businesses Nearby
Explore this area
Business Placement
Demographics for 27298, NC
10,583
Population
4,340
Households
2.4
Avg Household Size
43
Median Age
15%
College-Educated
81%
High-School Grad
94.8 sq mi
ZIP Area
112
Density / Sq Mi
$61,488
Median Household Income
$38,003
Median Earnings
$887
Median Rent
$183,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Two duplex buildings provide modern residential units with separate HVAC controls, outdoor living areas, and conveyed appliances.
Where is this multifamily property located?
The property is located at 105 E Highfill Avenue Liberty, NC.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 2025 construction with four residential units across two duplex buildings; 6,237 square feet on 0.71 acres; each unit is approximately 1,559 square feet; Each unit includes 3 bedrooms, 2 bathrooms, granite counters, LVP flooring, and conveying appliances
