Two-Unit Duplex with Private
For Sale
$479,000
Pending
7413 Leesville Road, Raleigh, NC 27613
Residential, Raleigh, NC
Property Size2,231 SF
Lot Size0.33 Acres
Days on Market68
Property Features for 7413 Leesville Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-6
Bedrooms
4
Bathrooms
3
Full bathrooms
2
Half bathrooms
2
Rooms
Bathroom 3, Bedroom 2, Bedroom 1, Bathroom 1, Bathroom 4, Bedroom 3, Bathroom 2, Bedroom 4
Interior features
Ceiling Fan(s)
Fireplace
1
Appliances
Dishwasher, Disposal, Electric Range, Microwave, Range Hood, Refrigerator, Washer/Dryer
Subdivision
Not in a Subdivision
Elementary school
Wake - York Elementary
Middle school
Wake - Leesville Road Middle
High school
Wake - Leesville Road High
Standard status
Pending
APN
078715744416000 0118573
Size
2,231 SF
Lot size
0.33 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
Loj Subd Of J W Belch Bm1981-00283
Tax Annual Amount
3772
Legal Description
Loj Subd Of J W Belch Bm1981-00283
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air, Heat Pump
Water source
Well, Private
Amenities
fireplaces
private back decks
Building Details
Year built
1981
Floors in Building
2
Flooring type
Carpet, Hardwood, Vinyl, Tile
Building materials
Wood Siding
Roof type
Shingle
Architectural style
Other
Listing Agency:
DASH Carolina
(984) 205-2279
Listed By:
Charles Michael Willis · License #316644
(252) 723-9236
Added: Jul 30
Changed: Oct 3
Last Checked: Oct 5 at 10:06AM
MLS# 10183280
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 1981 duplex contains 2,231 square feet across two residential units. Each unit has 2 bedrooms, 1 full bathroom, and 1 half bath, along with an open living area, fireplace, dual-vanity full bathroom, and private rear deck with attached storage closet. Interior finishes include hardwood, tile, carpet, and vinyl flooring. Appliances include a dishwasher, disposal, electric range, microwave, range hood, refrigerator, and washer/dryer. Heating is provided by forced air, with heat pump and central air cooling. The property uses private well water and public sewer.
Located on Leesville Road in Raleigh’s 27613 postal area, the duplex is approximately 12 minutes from North Hills shopping, dining, and entertainment. Parks, greenways, and everyday conveniences are also described as nearby. The property is zoned R-6 and sits on 0.33 acres.
Located on Leesville Road in Raleigh’s 27613 postal area, the duplex is approximately 12 minutes from North Hills shopping, dining, and entertainment. Parks, greenways, and everyday conveniences are also described as nearby. The property is zoned R-6 and sits on 0.33 acres.
Key Highlights
- Two‑unit duplex with 2,231 square feet built in 1981
- Each unit offers 2 bedrooms, 1 full bathroom, and 1 half bath
- Private rear decks include attached storage closets
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
$23,984
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
5.01%
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%
$479,680
$479.7K
Cap Rate 7%
$342,629
$342.6K
Cap Rate 9%
$266,489
$266.5K
Market Conditions
NOI Build-Up for 2,231 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
$36.1K $16.20/SF
− Vacancy
−$1.9K −$0.84/SF
EGI
$34.3K $15.36/SF
− OpEx
−$10.3K −$4.61/SF
NOI
$24.0K $10.75/SF
Area
ZIP 27613
Vacancy
5.20%
Lease Rate
$16.20 /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%
$479,680
Cap Rate 7%
$342,629
Cap Rate 9%
$266,489
Alternative Uses
Best Use
Multifamily LT 5
$342.6K
$299.8K – $399.7K
NOI $23,984 @ 7.0% cap · market cap 5.01%
Second Best
Apartment 5plus
$303.2K
$265.3K – $353.7K
NOI $21,222 @ 7.0% cap · market cap 4.43%
Theoretical Best
Office A
$581.0K
$508.3K – $677.8K
NOI $40,667 @ 7.0% cap · market cap 8.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
225
Businesses Nearby
Explore this area
Business Placement
Demographics for 27613, NC
46,969
Population
20,099
Households
2.3
Avg Household Size
39
Median Age
68%
College-Educated
98%
High-School Grad
25.5 sq mi
ZIP Area
1,842
Density / Sq Mi
$119,362
Median Household Income
$70,722
Median Earnings
$1,478
Median Rent
$478,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - R-6 duplex with fireplaces, private rear decks, attached storage, and two-bedroom unit layouts.
Where is this duplex located?
The property is located at 7413 Leesville Road Raleigh, NC.
What is the asking price?
The asking price for this property is $479,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,231 square feet built in 1981; Each unit offers 2 bedrooms, 1 full bathroom, and 1 half bath; Private rear decks include attached storage closets
