Duplex with Updated Vacant
For Sale
$475,000
841 Barringer Drive, Raleigh, NC 27606
Residential, Raleigh, NC
Property Size1,641 SF
Lot Size0.35 Acres
Price / SF$289.46
Days on Market27
Property Features for 841 Barringer Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-6
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 3, Bathroom 1, Bedroom 2, Bedroom 4, Bedroom 1
Parking features
Open, Driveway
Subdivision
Fairview Hills
Elementary school
Wake - Adams Elementary
Middle school
Wake - Lufkin Road Middle
High school
Wake - Athens Drive High
Standard status
Active
APN
078305271796000 0119714
Size
1,641 SF
Lot size
0.35 Acres
Taxes and HOA fees
Tax Year
2026
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
Amenities
patio
in-unit washer/dryer
driveway parking
Building Details
Year built
1982
Floors in Building
1
Flooring type
Vinyl
Building materials
Vinyl Siding
Roof type
Shingle
Architectural style
Ranch
Listing Agency:
LPT Realty, LLC
(877) 366-2213
Listed By:
George Wilson · License #223959
(919) 439-0965
Added: Jul 27
Changed: Aug 21
Last Checked: Aug 22 at 12:06AM
MLS# 10182665
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.
Built in 1982, this ranch-style duplex contains 1,641 square feet across two mirror-image residences. Each unit offers two bedrooms, one full bathroom, a living room, dining area, kitchen, and laundry closet with a washer and dryer. Unit 1 is vacant and has been refreshed with new luxury vinyl plank flooring and fresh paint. Unit 2 is occupied under a lease extending through May 31, 2027.
The property occupies 0.35 acres at 841 Barringer Drive in Raleigh, near Jones Franklin Road and I-440. A naturally wooded yard, backyard patios, and open driveway parking serve the two-unit layout. Public water and public sewer support the property, which is zoned R-6.
The property occupies 0.35 acres at 841 Barringer Drive in Raleigh, near Jones Franklin Road and I-440. A naturally wooded yard, backyard patios, and open driveway parking serve the two-unit layout. Public water and public sewer support the property, which is zoned R-6.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 full bath per residence
- 1,641 square feet on a 0.35‑acre lot
- Unit 1 is vacant with fresh paint and new luxury vinyl plank flooring
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
3.95%
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 3.95%
Second Best
Apartment 5plus
$238.7K
$208.9K – $278.5K
NOI $16,709 @ 7.0% cap · market cap 3.52%
Theoretical Best
Specialty Retail
$451.0K
$394.6K – $526.2K
NOI $31,569 @ 7.0% cap · market cap 6.65%
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Ranch-style duplex with matching two-bedroom layouts, private backyard patios, and driveway parking in a wooded setting.
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 $475,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 full bath per residence; 1,641 square feet on a 0.35‑acre lot; Unit 1 is vacant with fresh paint and new luxury vinyl plank flooring
