Spacious Two-Unit
For Sale
$489,500
1016 Camden Ave, Durham, NC 27701
Two residential units support flexible occupancy, leasing, or investment use near Downtown Durham.
Property Size2,400 SF
Price / SF$203.96
Days on Market9
Property Features for 1016 Camden Ave
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Multi-Family
Building Details
Year Built
2007
Listing Agency:
Nick Fugh Realty
(919) 648-2942
Listed By:
Nick Fugh
Source:
Tcrnc
Added: Aug 22
Changed: Aug 29
Last Checked: Aug 29 at 7:17PM
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 Nick Fugh Realty
Investment Insights
Based on property information with market context.
Built in 2007, this duplex contains approximately 2,400 heated square feet across two residences. Each unit offers approximately 1,200 SF with four bedrooms and two bathrooms, providing substantial layouts for residential occupancy. Unit 1 is vacant and available for showing, while Unit 2 is tenant occupied and can be viewed by appointment with advance notice. The property includes select cosmetic finishes that a new owner may personalize.
The property is located near Downtown Durham, Duke University, shopping, dining, and major commuter routes. Unit 2 has a lease in place through 08/31/2027, while the vacant first unit offers immediate access for evaluation and planning. The configuration supports continued rental use or an owner-occupancy strategy, consistent with the property's two separate residences.
The property is located near Downtown Durham, Duke University, shopping, dining, and major commuter routes. Unit 2 has a lease in place through 08/31/2027, while the vacant first unit offers immediate access for evaluation and planning. The configuration supports continued rental use or an owner-occupancy strategy, consistent with the property's two separate residences.
Key Highlights
- Approximately 2,400 heated square feet
- Two residences with approximately 1,200 SF each
- Each unit includes 4 bedrooms and 2 bathrooms
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
$20,608
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
4.21%
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%
$412,160
$412.2K
Cap Rate 7%
$294,400
$294.4K
Cap Rate 9%
$228,978
$229.0K
Market Conditions
NOI Build-Up for 2,400 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
$33.1K $13.80/SF
− Vacancy
−$3.7K −$1.53/SF
EGI
$29.4K $12.27/SF
− OpEx
−$8.8K −$3.68/SF
NOI
$20.6K $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%
$412,160
Cap Rate 7%
$294,400
Cap Rate 9%
$228,978
Alternative Uses
Best Use
Multifamily LT 5
$294.4K
$257.6K – $343.5K
NOI $20,608 @ 7.0% cap · market cap 4.21%
Second Best
Apartment 5plus
$257.8K
$225.5K – $300.7K
NOI $18,043 @ 7.0% cap · market cap 3.69%
Theoretical Best
Office A
$775.0K
$678.1K – $904.2K
NOI $54,249 @ 7.0% cap · market cap 11.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
541
Businesses Nearby
Explore this area
Business Placement
Demographics for 27701, NC
25,208
Population
13,409
Households
1.9
Avg Household Size
34
Median Age
50%
College-Educated
85%
High-School Grad
5.2 sq mi
ZIP Area
4,848
Density / Sq Mi
$66,852
Median Household Income
$47,681
Median Earnings
$1,279
Median Rent
$457,600
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 - Two residential units support flexible occupancy, leasing, or investment use near Downtown Durham.
Where is this duplex located?
The property is located at 1016 Camden Ave Durham, NC.
What is the asking price?
The asking price for this property is $489,500.
What are key features of this property?
This property features: Approximately 2,400 heated square feet; Two residences with approximately 1,200 SF each; Each unit includes 4 bedrooms and 2 bathrooms
