Two-Unit Residential
For Sale
$525,000
1000 Broad St, Durham, NC 27705
Two residential units offer practical layouts in a neighborhood setting with access to dining, shopping, schools, and major roads.
Property Size2,449 SF
Price / SF$214.37
Days on Market11
Property Features for 1000 Broad St
General Information
Standard status
Active
Size
2,449 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1937
Listing Agency:
Keller Williams Elite Realty
Listed By:
Michelle Edwards Mitchell · License #121569
(919) 484-2280
Source:
Myhomesearchtriangle
Added: Aug 30
Changed: Sep 8
Last Checked: Sep 8 at 9:02AM
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 Keller Williams Elite Realty
Investment Insights
Based on property information with market context.
This duplex contains two residential units within a 2,449-square-foot property built in 1937. Each unit is described as having a practical layout and comfortable living space, supporting continued residential use.
The property is at 1000 Broad St. in Durham, with access to downtown, restaurants, shopping, schools, and major roads. Its setting combines proximity to city amenities with an established residential environment.
The property is at 1000 Broad St. in Durham, with access to downtown, restaurants, shopping, schools, and major roads. Its setting combines proximity to city amenities with an established residential environment.
Key Highlights
- Duplex with two residential units
- 2,449‑square‑foot property
- Built in 1937
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
$21,029
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
4.01%
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%
$420,580
$420.6K
Cap Rate 7%
$300,414
$300.4K
Cap Rate 9%
$233,656
$233.7K
Market Conditions
NOI Build-Up for 2,449 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
$33.8K $13.80/SF
− Vacancy
−$3.8K −$1.53/SF
EGI
$30.0K $12.27/SF
− OpEx
−$9.0K −$3.68/SF
NOI
$21.0K $8.59/SF
Area
Durham, NC
Vacancy
11.11%
Lease Rate
$13.80 /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%
$420,580
Cap Rate 7%
$300,414
Cap Rate 9%
$233,656
Alternative Uses
Best Use
Multifamily LT 5
$300.4K
$262.9K – $350.5K
NOI $21,029 @ 7.0% cap · market cap 4.01%
Second Best
Apartment 5plus
$263.0K
$230.1K – $306.9K
NOI $18,411 @ 7.0% cap · market cap 3.51%
Theoretical Best
Office A
$790.8K
$692.0K – $922.6K
NOI $55,357 @ 7.0% cap · market cap 10.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,258
Businesses Nearby
Explore this area
Business Placement
Demographics for 27705, NC
50,472
Population
24,108
Households
2.1
Avg Household Size
34
Median Age
62%
College-Educated
91%
High-School Grad
42.1 sq mi
ZIP Area
1,199
Density / Sq Mi
$71,153
Median Household Income
$43,138
Median Earnings
$1,422
Median Rent
$398,500
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer practical layouts in a neighborhood setting with access to dining, shopping, schools, and major roads.
Where is this duplex located?
The property is located at 1000 Broad St Durham, NC.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Duplex with two residential units; 2,449‑square‑foot property; Built in 1937
