Tenant-Occupied
For Sale
$320,000
314 Price Avenue, Durham, NC 27707
Residential Income, Durham, NC
Property Size1,402 SF
Lot Size0.17 Acres
Price / SF$228.25
Days on Market32
Property Features for 314 Price Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-5
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 2, Basement, Bedroom 1
Parking features
Off Street
Basement
Crawl Space
Subdivision
Not in a Subdivision
Elementary school
Durham - C C Spaulding Elementary
Middle school
Durham - Brogden Middle
High school
Durham - Charles E Jordan Sr High School
Standard status
Active
APN
118366
Size
1,402 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Prop-Dunston Mincey Rober Tson/Blk:I/Lt#10 Pl:00005A-000013
Tax Annual Amount
3025
Legal Description
Prop-Dunston Mincey Rober Tson/Blk:I/Lt#10 Pl:00005A-000013
Utilities
Sewer type
Public Sewer
Heating system
Ductless (Heating), Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1935
Floors in Building
1
Number of units
2
Flooring type
Tile, Hardwood
Building materials
Aluminum Siding
Roof type
Metal
Listing Agency:
Northside Realty Inc.
(919) 784-0101
Listed By:
Stephanie Anson · License #270558
(919) 335-3048
Added: Jul 24
Changed: Aug 21
Last Checked: Aug 24 at 1:06PM
MLS# 10182539
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 1,402-square-foot duplex was built in 1935 and includes two bedrooms, two bathrooms, a basement, and off-street parking. Interior finishes include tile and hardwood flooring, with central air and ductless electric heating. The exterior has aluminum siding and a metal roof.
The property occupies 0.17 acres and is served by public water and public sewer. It is zoned R-5 and is currently tenant occupied. The address places the property near North Carolina Central University, Duke University, and Downtown Durham. Showings require advance notice, and occupants should not be disturbed.
The property occupies 0.17 acres and is served by public water and public sewer. It is zoned R-5 and is currently tenant occupied. The address places the property near North Carolina Central University, Duke University, and Downtown Durham. Showings require advance notice, and occupants should not be disturbed.
Key Highlights
- 1,402‑square‑foot duplex on a 0.17‑acre lot
- Two bedrooms, two bathrooms, and a basement
- Currently tenant occupied
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
$12,039
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
3.76%
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%
$240,780
$240.8K
Cap Rate 7%
$171,986
$172.0K
Cap Rate 9%
$133,767
$133.8K
Market Conditions
NOI Build-Up for 1,402 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
$19.3K $13.80/SF
− Vacancy
−$2.1K −$1.53/SF
EGI
$17.2K $12.27/SF
− OpEx
−$5.2K −$3.68/SF
NOI
$12.0K $8.59/SF
Area
Durham, NC
Vacancy
11.11%
Lease Rate
$13.80 /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%
$240,780
Cap Rate 7%
$171,986
Cap Rate 9%
$133,767
Alternative Uses
Best Use
Multifamily LT 5
$172.0K
$150.5K – $200.7K
NOI $12,039 @ 7.0% cap · market cap 3.76%
Second Best
Apartment 5plus
$150.6K
$131.8K – $175.7K
NOI $10,540 @ 7.0% cap · market cap 3.29%
Theoretical Best
Office A
$452.7K
$396.1K – $528.2K
NOI $31,690 @ 7.0% cap · market cap 9.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
674
Businesses Nearby
Explore this area
Business Placement
Demographics for 27707, NC
49,787
Population
23,528
Households
2.1
Avg Household Size
34
Median Age
57%
College-Educated
92%
High-School Grad
20.7 sq mi
ZIP Area
2,405
Density / Sq Mi
$72,432
Median Household Income
$45,803
Median Earnings
$1,364
Median Rent
$371,500
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 - Two-bedroom, two-bath property with off-street parking and separate living spaces.
Where is this duplex located?
The property is located at 314 Price Avenue Durham, NC.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: 1,402‑square‑foot duplex on a 0.17‑acre lot; Two bedrooms, two bathrooms, and a basement; Currently tenant occupied
