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    902 Vickers Avenue Durham, NC 27701

    View on Map
    Pending
    $765,000

    MULTI_FAMILY - Durham, NC

    Type:Single Family Residence
    Property size:
    3,264 SF
    Lot size:
    0.31 Acres
    Added:
    Aug 26, 2025
    Days on Market:
    218
    Last Refresh:
    Mar 31 at 8:06 pm

    Property Features for 902 Vickers Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Single Family Residence
    Bedrooms
    4
    Bathrooms
    2
    Rooms
    Bathroom 20, Bathroom 9, Basement, Bathroom 7, Bedroom 4, Bathroom 11, Bathroom 1, Bathroom 6, Bedroom 1, Bathroom 2, Bathroom 21, Bathroom 13, Bathroom 18, Bathroom 5, Bathroom 19, Bathroom 12, Bathroom 17, Bedroom 2, Bedroom 3, Bathroom 10, Bathroom 8, Bathroom 16, Bathroom 3, Bathroom 14, Bathroom 15, Bathroom 4
    Parking features
    Driveway
    Security features
    Security System
    Window features
    Blinds
    Patio and Porch features
    Porch
    Interior features
    Bathtub/Shower Combination, High Ceilings
    Basement
    Unfinished
    Appliances
    Dishwasher, Dryer, Electric Range, Refrigerator, Washer
    Standard status
    Pending
    APN
    0821-56-9276
    Size
    3,264 SF
    Lot size
    0.31 Acres

    Taxes and HOA fees

    TaxYear
    2025
    TaxDescription
    PROP-BALDWIN R L & HEDRIC K H G/LT#02A & LT#02B MO PL:000010-000103
    TaxAnnualAmount
    7707

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Central
    Cooling system
    Central Air, Ceiling Fan(s)
    Water source
    Public

    Building Details

    Year built
    1904
    Floors in Building
    3
    Number of units
    4
    Flooring type
    Hardwood
    Building materials
    Brick Veneer
    Roof type
    Shingle

    We can help!

    Listing Contact
    John Whaley

    Listing agent John Whaley

    Listing office Frasher Whaley Realty Group 500 W Morgan St, Suite 204, Durham, NC

    Listing date Aug 26, 2025

    MLS# 10117976 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.

    Overview

    Three-Story Home in Morehead Hill

    Located in Morehead Hill, this three-story single-family home has a history as a rental property. The property is situated near Duke University, downtown Durham, the American Tobacco Campus, and the Durham Bulls Athletic Park. The property is currently rented for $6395 per month through May 31, 2026. The property, which is 3264 square feet in size, sits on a 0.31-acre lot. This property could serve as an investment opportunity or be renovated for future owner-occupancy.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Daycare Center Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Durham
    County
    Durham
    State
    North Carolina
    Longitude
    -78.912183
    Latitude
    35.992718

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    FAQs

    What type of property is this?
    Single family property - Three-story home with rental history near Duke and downtown Durham.
    Where is this single family property located?
    The property is located at 902 Vickers Avenue Durham, NC.
    What is the asking price?
    The asking price for this property is $765,000.
    What are key features of this property?
    This property features: Excellent rental history, currently rented at $6395/month through 5/31/26, with consistent annual increases.; Prime location near Duke University, downtown Durham, American Tobacco Campus, and Durham Bulls Athletic Park.; Tremendous investment property opportunity.
    (919) 475-3891
    We can help!
    Listing Contact
    John Whaley
    Learn More
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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
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