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    2607 Chapel Hill Rd Durham, NC 27707

    Sponsored
    For Sale
    $725,000

    MULTI_FAMILY - Durham, NC

    Property size:
    2,153 SF
    Lot size:
    0.19 Acres
    Days on Market:
    25
    Last Refresh:
    Jan 23 at 2:06 am

    Property Features for 2607 Chapel Hill Rd

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Vegetation
    Cleared
    Window features
    Wood Frames
    Zoning
    Residential
    Rooms
    Bedroom 1, Bedroom 3, Bathroom 3, Bathroom 1, Laundry Room, Bathroom 2, Bedroom 2
    Bedrooms
    3
    Bathrooms
    3
    APN
    238502
    Parking
    4
    Patio and Porch features
    Porch
    Interior features
    Bathtub/Shower Combination, High Ceilings
    Fireplace
    1
    Appliances
    Dishwasher, Disposal, Dryer, Electric Oven, Electric Water Heater, Exhaust Fan, Stainless Steel Appliance(s), Vented Exhaust Fan, Washer, Washer/Dryer, Water Heater
    Size
    2,153 SF
    Lot size
    0.19 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air
    Cooling system
    Heat Pump, Central Air, Multi Units, Ceiling Fan(s)
    Water source
    Public

    Building Details

    Year built
    1925
    Floors in Building
    2
    Number of units
    3
    Flooring type
    Vinyl, Tile - Ceramic, Hardwood
    Building materials
    Brick, Wood Siding
    Roof type
    Shingle

    We can help!

    Listing Contact
    Garrett Warren White

    Don Anthony Realty, LLC (919) 972-8448 [email protected]

    Listing agent Garrett Warren White

    Listing date Dec 30, 2025

    MLS# 10133464 Listing URL

    Copyright © 2026 Doorify MLS of North Carolina. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Restored Triplex in Lakewood Neighborhood

    Located in Durham's Lakewood neighborhood, this triplex was built in 1925 and features restored architectural character with modern upgrades. The property includes two renovated 1-bedroom, 1-bathroom units on the main level, each with updated kitchens and bathrooms, plumbing, HVAC and duct work, and electrical systems. Original details have been preserved throughout the home. A third unit upstairs has not been renovated and offers value-add potential for use as a rental, short-term unit, or studio space. The renovated units are occupied by tenants with leases ending in September 2026. The property size is 2153 square feet and the lot size is 0.19 acres. The property shares a driveway with an adjacent lot, which is intended for a future new build. The rear lot is 0.23 acres and zoned res/3-family, allowing for single-family, duplex, or triplex construction.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Durham
    County
    Durham
    State
    North Carolina
    Longitude
    -78.934929
    Latitude
    35.979132

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    FAQs

    What type of property is this?
    Triplex - Rare 1925 Durham triplex with renovated units and value-add potential.
    Where is this triplex located?
    The property is located at 2607 Chapel Hill Rd Durham, NC.
    What is the asking price?
    The asking price for this property is $725,000.
    What are key features of this property?
    This property features: - Rare triplex in the desirable Lakewood neighborhood, offering a blend of historic charm and modern upgrades.; - Two fully renovated 1-bedroom, 1-bathroom units with updated kitchens, bathrooms, plumbing, HVAC, electrical systems, and fireproofing, while preserving original details.; - Value-add opportunity with an unrenovated third unit, suitable for rental, short-term unit, or studio space.
    (919) 972-8448
    Request Owner's contact information
    2607 Chapel Hill Rd Durham, NC 27707
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    Durham, NC 27707
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2607 Chapel Hill Rd Durham, NC 27707
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    We can help!
    Listing Contact
    Garrett Warren White
    (919) 972-8448
    Learn more
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