Ranch Duplex with Renovated
For Sale
$429,900
1007 N King Charles Rd #101 102, Raleigh, NC 27610
Two-unit residential income property with slab construction, vinyl siding, and one recently renovated unit.
Property Size1,992 SF
Price / SF$215.81
Days on Market59
Property Features for 1007 N King Charles Rd #101 102
General Information
Standard status
Active
Size
1,992 SF
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Building Details
Year Built
2007
Construction
ranch
Tenancy
Multi
Listed By:
Carolina Collective Realty
(919) 782-4503
Source:
Carolinacollectiverealty
Added: Sep 2
Changed: Oct 25
Last Checked: Oct 28 at 8:07AM
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 Carolina Collective Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This ranch-style duplex contains 1,992 square feet in a low-maintenance slab-built structure with vinyl siding. Constructed in 2007, the property includes two separate residential units. Unit 102 received a full renovation in 2026 and is leased through June 2027 under a 12-month term. Unit 101 is occupied under a month-to-month arrangement, with the option to convert it to a 12-month lease.
The property is located at 1007 N King Charles Rd in Raleigh, near downtown, bus service, shopping, and local activities. Its two-unit configuration, durable exterior materials, and distinct lease positions provide a straightforward residential income profile.
The property is located at 1007 N King Charles Rd in Raleigh, near downtown, bus service, shopping, and local activities. Its two-unit configuration, durable exterior materials, and distinct lease positions provide a straightforward residential income profile.
Key Highlights
- 1,992‑square‑foot ranch duplex built in 2007
- Unit 102 fully renovated in 2026
- Unit 102 leased under a 12‑month term through June 2027
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,001
Cap Rate
5.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$460,020
$460.0K
Cap Rate 7%
$328,586
$328.6K
Cap Rate 9%
$255,567
$255.6K
Market Conditions
NOI Build-Up for 1,992 SF
Gross rent
$34.7K $17.40/SF
− Vacancy
−$1.8K −$0.90/SF
EGI
$32.9K $16.50/SF
− OpEx
−$9.9K −$4.95/SF
NOI
$23.0K $11.55/SF
Area
ZIP 27610
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%
$460,020
Cap Rate 7%
$328,586
Cap Rate 9%
$255,567
Alternative Uses
Best Use
Multifamily LT 5
$328.6K
$287.5K – $383.4K
NOI $23,001 @ 7.0% cap · market cap 5.35%
Second Best
Apartment 5plus
$295.0K
$258.2K – $344.2K
NOI $20,652 @ 7.0% cap · market cap 4.80%
Theoretical Best
Specialty Retail
$583.9K
$511.0K – $681.3K
NOI $40,876 @ 7.0% cap · market cap 9.51%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
86
Businesses Nearby
Explore this area
Business Placement
Demographics for 27610, NC
75,164
Population
29,245
Households
2.6
Avg Household Size
34
Median Age
28%
College-Educated
86%
High-School Grad
45.2 sq mi
ZIP Area
1,663
Density / Sq Mi
$66,245
Median Household Income
$37,582
Median Earnings
$1,319
Median Rent
$260,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential income property with slab construction, vinyl siding, and one recently renovated unit.
Where is this duplex located?
The property is located at 1007 N King Charles Rd #101 102 Raleigh, NC.
What is the asking price?
The asking price for this property is $429,900.
What are key features of this property?
This property features: 1,992‑square‑foot ranch duplex built in 2007; Unit 102 fully renovated in 2026; Unit 102 leased under a 12‑month term through June 2027
