Occupied Duplex on Fenced
For Sale
$419,900
100 Madrid Ct, Garner, NC 27529
Two residential units offer separate utilities, central air, appliances, and washer/dryer connections.
Property Size2,388 SF
Lot Size0.29 Acres
Price / SF$175.84
Days on Market107
Property Features for 100 Madrid Ct
General Information
Standard status
Active
Size
2,388 SF
Lot size
0.29 Acres
Property subtype
Multi-Family
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 3BR/1.5BA
Multifamily Units
2
Amenities
central air
washer/dryer hookups
fenced lot
Building Details
Year Built
1981
Buildings
1
Tenancy
Multi
Listing Agency:
CHK Realty
Listed By:
CC Bennett
(919) 924-5555
Source:
Tcrnc
Added: Jul 1
Changed: Oct 3
Last Checked: Oct 7 at 3:55PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CHK Realty
Investment Insights
Based on property information with market context.
This two-unit residential property contains 2,388 square feet, with each side arranged as a three-bedroom, one-and-a-half-bath home. Both units include living areas, full kitchens with refrigerators, ranges, and dishwashers, central air, and dedicated washer/dryer hookups. Luxury vinyl plank flooring runs through the first floor of each unit. The roof was completed in 2020, and the HVAC systems are approximately five years old.
The improvements sit on a 0.29-acre fenced corner lot. Each household pays its own water, sewer, and electric service, along with yard maintenance. The property has no HOA fees and is fully occupied. It is located near Timber Drive and Aversboro Road, within walking distance of Lowes Foods and ALDI. Garner Towne Square and White Oak Crossing are nearby, while US-70 and I-40 provide routes toward downtown Raleigh.
The improvements sit on a 0.29-acre fenced corner lot. Each household pays its own water, sewer, and electric service, along with yard maintenance. The property has no HOA fees and is fully occupied. It is located near Timber Drive and Aversboro Road, within walking distance of Lowes Foods and ALDI. Garner Towne Square and White Oak Crossing are nearby, while US-70 and I-40 provide routes toward downtown Raleigh.
Key Highlights
- Fully occupied duplex with two 3‑bedroom, 1.5‑bath units
- 2,388 square feet on a 0.29‑acre fenced corner lot
- Roof completed in 2020; HVAC systems approximately 5 years old
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,573
Cap Rate
6.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$551,460
$551.5K
Cap Rate 7%
$393,900
$393.9K
Cap Rate 9%
$306,367
$306.4K
Market Conditions
NOI Build-Up for 2,388 SF
Gross rent
$41.6K $17.40/SF
− Vacancy
−$2.2K −$0.90/SF
EGI
$39.4K $16.50/SF
− OpEx
−$11.8K −$4.95/SF
NOI
$27.6K $11.55/SF
Area
Wake County, NC
Vacancy
5.20%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$551,460
Cap Rate 7%
$393,900
Cap Rate 9%
$306,367
Alternative Uses
Best Use
Multifamily LT 5
$393.9K
$344.7K – $459.6K
NOI $27,573 @ 7.0% cap · market cap 6.57%
Second Best
Apartment 5plus
$349.2K
$305.6K – $407.4K
NOI $24,445 @ 7.0% cap · market cap 5.82%
Theoretical Best
Specialty Retail
$681.8K
$596.6K – $795.5K
NOI $47,728 @ 7.0% cap · market cap 11.37%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
335
Businesses Nearby
Explore this area
Business Placement
Demographics for 27529, NC
54,250
Population
22,089
Households
2.5
Avg Household Size
39
Median Age
41%
College-Educated
93%
High-School Grad
57.7 sq mi
ZIP Area
940
Density / Sq Mi
$86,426
Median Household Income
$47,686
Median Earnings
$1,379
Median Rent
$325,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer separate utilities, central air, appliances, and washer/dryer connections.
Where is this duplex located?
The property is located at 100 Madrid Ct Garner, NC.
What is the asking price?
The asking price for this property is $419,900.
What are key features of this property?
This property features: Fully occupied duplex with two 3‑bedroom, 1.5‑bath units; 2,388 square feet on a 0.29‑acre fenced corner lot; Roof completed in 2020; HVAC systems approximately 5 years old
