Contemporary Duplex with
For Sale
$412,000
112 Olivine Drive, Raleigh, NC 27610
DUPLEX - Contemporary, Ranch - Raleigh, NC
Property Size1,675 SF
Lot Size0.10 Acres
Price / SF$245.97
Days on Market40
Property Features for 112 Olivine Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R4
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Dining Room, Laundry Room, Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 1
Parking
2
Parking features
Driveway, Open, Garage
Patio and Porch features
Porch
Interior features
Breakfast Bar, Ceiling Fan(s), Crown Molding, Double Vanity, Eat-in Kitchen, Kitchen Island, Kitchen/Dining Room Combination, Open Floorplan, Pantry, Primary Downstairs, Recessed Lighting, Smart Home, Smooth Ceilings, Stone Counters, Walk-In Closet(s), Walk-In Shower, Wired for Data
Exterior features
Rain Gutters
Fireplace
1
Appliances
Dishwasher, Free-Standing Gas Range, Free-Standing Range, Free-Standing Refrigerator, Gas Range, Microwave, Range, Refrigerator
Subdivision
Auburn Village
Elementary school
Wake - East Garner Elementary
Middle school
Wake - East Garner Middle
High school
Wake - South Garner High
Standard status
Active
APN
173002691619000 0479408
Size
1,675 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Lo260 Auburn Village Ph3 Bm2020-01613
Tax Annual Amount
4121
HOA Fee
$265 Monthly
Legal Description
Lo260 Auburn Village Ph3 Bm2020-01613
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Cooling system
Central Air, Ceiling Fan(s)
Water source
Public
Amenities
pool
clubhouse
walking trails
fireplace
screened patio
attached garage
Building Details
Year built
2022
Floors in Building
1
Flooring type
Vinyl, Wood, Tile, Carpet
Building materials
Concrete, Fiber Cement, Shake Siding, Stone
Roof type
Shingle
Architectural style
Ranch, Contemporary
Listing Agency:
Coldwell Banker HPW · Coldwell Banker Real Estate
(919) 732-6101
Listed By:
Cindy Sorvillo
(919) 816-6630
Added: Jun 30
Changed: Aug 6
Last Checked: Aug 8 at 10:06PM
MLS# 10178400
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.
This contemporary ranch duplex was built in 2022 and offers 1,675 square feet on a 0.1-acre lot. The residence includes two bedrooms, two bathrooms, an open floor plan, a fireplace, kitchen island, pantry, stone counters, and a five-burner gas range. Fresh paint and new carpet complement wood, tile, and vinyl flooring, while custom interior shutters add light control and privacy. An attached two-car garage has finished walls and an epoxy-coated floor, and the screened patio also features epoxy flooring.
The property is in a Raleigh 55+ active adult community with a clubhouse, pool, walking trails, organized activities, and recreational clubs. Public water and public sewer serve the property, with cable available. The home is near Garner and Clayton and carries R4 zoning.
The property is in a Raleigh 55+ active adult community with a clubhouse, pool, walking trails, organized activities, and recreational clubs. Public water and public sewer serve the property, with cable available. The home is near Garner and Clayton and carries R4 zoning.
Key Highlights
- 1,675‑square‑foot duplex on a 0.1‑acre lot
- Built in 2022 with contemporary ranch architecture
- Two bedrooms and two bathrooms
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
$19,341
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
4.69%
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%
$386,820
$386.8K
Cap Rate 7%
$276,300
$276.3K
Cap Rate 9%
$214,900
$214.9K
Market Conditions
NOI Build-Up for 1,675 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
$29.1K $17.40/SF
− Vacancy
−$1.5K −$0.90/SF
EGI
$27.6K $16.50/SF
− OpEx
−$8.3K −$4.95/SF
NOI
$19.3K $11.55/SF
Area
ZIP 27610
Vacancy
5.20%
Lease Rate
$17.40 /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%
$386,820
Cap Rate 7%
$276,300
Cap Rate 9%
$214,900
Alternative Uses
Best Use
Multifamily LT 5
$276.3K
$241.8K – $322.4K
NOI $19,341 @ 7.0% cap · market cap 4.69%
Second Best
Apartment 5plus
$248.1K
$217.1K – $289.4K
NOI $17,365 @ 7.0% cap · market cap 4.21%
Theoretical Best
Specialty Retail
$491.0K
$429.6K – $572.9K
NOI $34,371 @ 7.0% cap · market cap 8.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
86
Businesses Nearby
Explore this area
Business Placement
Demographics for 27610, NC
75,164
Population
29,245
Households
2.6
Avg Household Size
34
Median Age
28%
College-Educated
86%
High-School Grad
45.2 sq mi
ZIP Area
1,663
Density / Sq Mi
$66,245
Median Household Income
$37,582
Median Earnings
$1,319
Median Rent
$260,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - R4-zoned ranch-style property with updated interiors, an open living area, and community amenities for residents age 55 and older.
Where is this duplex located?
The property is located at 112 Olivine Drive Raleigh, NC.
What is the asking price?
The asking price for this property is $412,000.
What are key features of this property?
This property features: 1,675‑square‑foot duplex on a 0.1‑acre lot; Built in 2022 with contemporary ranch architecture; Two bedrooms and two bathrooms
