Duplex with Private
For Sale
$470,000
841 Barringer Drive, Raleigh, NC 27606
Residential Income, Raleigh, NC
Property Size1,641 SF
Lot Size0.35 Acres
Price / SF$286.41
Days on Market93
Property Features for 841 Barringer Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
4
Rooms
Bedroom 2, Bathroom 1, Bedroom 1, Bathroom 3, Bathroom 4, Bedroom 3, Bathroom 2, Bedroom 4
Parking features
Open, Driveway
Subdivision
Fairview Hills
Standard status
Active
APN
0119714
Size
1,641 SF
Lot size
0.35 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Lo3 Fairview Hills Sub Bm1981-566
Tax Annual Amount
2966
Legal Description
Lo3 Fairview Hills Sub Bm1981-566
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1982
Floors in Building
1
Number of units
2
Flooring type
Vinyl
Building materials
Vinyl Siding
Roof type
Shingle
Listing Agency:
LPT Realty, LLC
(877) 366-2213
Listed By:
George Wilson · License #223959
(919) 439-0965
Added: May 22
Changed: Aug 21
Last Checked: Aug 22 at 12:06AM
MLS# 10169267
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 1,641-square-foot duplex contains two matching residences, each arranged with two bedrooms, one full bath, a living room, dining area, kitchen, and laundry closet. Washer and dryer appliances are provided in both units. One residence is vacant and has been updated with fresh paint and new luxury vinyl plank flooring, while the other is occupied under a lease through May 31st, 2027.
Built in 1982, the property sits on 0.35 acres with a naturally wooded setting, backyard patios, and driveway parking. Construction includes vinyl siding and a shingle roof, with forced-air heat, central air, public water, and public sewer. The duplex is located near Jones Franklin Road and I-440, between Raleigh and Cary.
Built in 1982, the property sits on 0.35 acres with a naturally wooded setting, backyard patios, and driveway parking. Construction includes vinyl siding and a shingle roof, with forced-air heat, central air, public water, and public sewer. The duplex is located near Jones Franklin Road and I-440, between Raleigh and Cary.
Key Highlights
- 1,641‑square‑foot duplex with two matching 2‑bedroom, 1‑bath residences
- Unit 1 is vacant and features fresh paint plus new luxury vinyl plank flooring
- Unit 2 is leased through May 31st, 2027
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
$18,754
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
3.99%
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%
$375,080
$375.1K
Cap Rate 7%
$267,914
$267.9K
Cap Rate 9%
$208,378
$208.4K
Market Conditions
NOI Build-Up for 1,641 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
$28.6K $17.40/SF
− Vacancy
−$1.8K −$1.07/SF
EGI
$26.8K $16.33/SF
− OpEx
−$8.0K −$4.90/SF
NOI
$18.8K $11.43/SF
Area
Raleigh, NC
Vacancy
6.17%
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%
$375,080
Cap Rate 7%
$267,914
Cap Rate 9%
$208,378
Alternative Uses
Best Use
Multifamily LT 5
$267.9K
$234.4K – $312.6K
NOI $18,754 @ 7.0% cap · market cap 3.99%
Second Best
Apartment 5plus
$238.7K
$208.9K – $278.5K
NOI $16,709 @ 7.0% cap · market cap 3.56%
Theoretical Best
Specialty Retail
$451.0K
$394.6K – $526.2K
NOI $31,569 @ 7.0% cap · market cap 6.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
389
Businesses Nearby
Explore this area
Business Placement
Demographics for 27606, NC
48,343
Population
22,199
Households
2.2
Avg Household Size
29
Median Age
59%
College-Educated
93%
High-School Grad
24.5 sq mi
ZIP Area
1,973
Density / Sq Mi
$75,640
Median Household Income
$40,950
Median Earnings
$1,369
Median Rent
$423,900
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?
Duplex - Mirror-image units feature two bedrooms, one full bath, laundry closets, and separate backyard patios.
Where is this duplex located?
The property is located at 841 Barringer Drive Raleigh, NC.
What is the asking price?
The asking price for this property is $470,000.
What are key features of this property?
This property features: 1,641‑square‑foot duplex with two matching 2‑bedroom, 1‑bath residences; Unit 1 is vacant and features fresh paint plus new luxury vinyl plank flooring; Unit 2 is leased through May 31st, 2027
