Two-Unit Cape Cod
New
For Sale
$525,000
1000 Broad Street, Durham, NC 27705
Residential, Durham, NC
Property Size2,449 SF
Lot Size0.16 Acres
Price / SF$214.37
Days on Market1
Property Features for 1000 Broad Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
OI-2
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 5, Bedroom 1, Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 2, Basement
Basement
Unfinished
Subdivision
Not in a Subdivision
Elementary school
Durham - E K Powe Elementary
Middle school
Durham - Brogden Middle
High school
Durham - Durham School of the Arts
Standard status
Active
APN
100660
Size
2,449 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
The Suburban L&P Co/Blk:2 7/Lt#23-24 Pl:000018-000124
Tax Annual Amount
3900
Legal Description
The Suburban L&P Co/Blk:2 7/Lt#23-24 Pl:000018-000124
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Electric (Heating)
Water source
Public
Building Details
Year built
1937
Floors in Building
2
Flooring type
Hardwood
Building materials
Aluminum Siding
Roof type
Shingle
Architectural style
Cape Cod
Listing Agency:
Keller Williams Elite Realty · Keller Williams Realty
(984) 244-5830
Listed By:
Michelle Edwards Mitchell · License #121569
(919) 484-2280
Added: Sep 3
Last Checked: Sep 3 at 5:06PM
MLS# 10190494
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 two-unit duplex contains 2,449 square feet on a 0.16-acre lot. Built in 1937, the Cape Cod-style property features aluminum siding, hardwood floors, shingle roofing, electric baseboard heating, and a basement. Each unit is described as having a practical residential layout, with the property offering five bedrooms and two bathrooms overall.
The property is located at 1000 Broad Street in Durham, with access to downtown, restaurants, shopping, schools, and major roads identified in the surrounding area. Public water and public sewer serve the property, supporting its established residential configuration.
The property is located at 1000 Broad Street in Durham, with access to downtown, restaurants, shopping, schools, and major roads identified in the surrounding area. Public water and public sewer serve the property, supporting its established residential configuration.
Key Highlights
- Two‑unit duplex with 2,449 square feet
- 0.16‑acre lot at 1000 Broad Street
- Built in 1937 with Cape Cod architectural style
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
Property Profile
Current Use
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
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 - 1937 residential income property with hardwood flooring, electric baseboard heat, and public water and sewer service.
Where is this duplex located?
The property is located at 1000 Broad Street 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: Two‑unit duplex with 2,449 square feet; 0.16‑acre lot at 1000 Broad Street; Built in 1937 with Cape Cod architectural style
