Partially Renovated
For Sale
$217,000
106 -108 S 2nd Street, Mebane, NC 27302
Residential, Mebane, NC
Property Size2,136 SF
Lot Size0.12 Acres
Price / SF$101.59
Days on Market155
Property Features for 106 -108 S 2nd Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RESCIDENTIAL
Bedrooms
6
Bathrooms
5
Full bathrooms
3
Half bathrooms
3
Rooms
Bedroom 5, Bathroom 4, Bathroom 5, Bathroom 6, Bedroom 3, Bathroom 3, Bedroom 4, Bedroom 1, Bedroom 6, Bathroom 2, Bathroom 1, Bedroom 2
Exterior features
Storage
Subdivision
Not in a Subdivision
Elementary school
Alamance Burlington - South Mebane Elementary
Middle school
Alamance Burlington - Woodlawn Middle
High school
Alamance Burlington - Eastern Alamance High
Standard status
Active
APN
166095
Size
2,136 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Mebane Land Blk 17 Pt Of Lt 5 208-822-14
Tax Annual Amount
1453
Legal Description
Mebane Land Blk 17 Pt Of Lt 5 208-822-14
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1950
Floors in Building
1
Building materials
Vinyl Siding, Wood Siding
Roof type
Shingle
Architectural style
Ranch
Additional Structures
Storage
Listing Agency:
Coldwell Banker HPW · Coldwell Banker Real Estate
(919) 516-9477
Listed By:
Marta Parilli · License #314757
(269) 267-6421
Added: Apr 30
Changed: Sep 13
Last Checked: Oct 1 at 9:06AM
MLS# 10166114
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 1950 ranch-style duplex at 106–108 S 2nd Street contains 2,136 square feet on a 0.12-acre lot. The property is being sold as-is and requires completion of electrical, plumbing, and interior work, with full city permits to be obtained by the buyer. Unit 106 has high ceilings, an open living and dining arrangement, and plans for 3 bedrooms and 2 bathrooms. Unit 108 includes newly installed floor tile and a bathtub.
Work already completed or started includes the roof, select windows, siding, and furnace ductwork. The building also offers storage, vinyl and wood siding, a shingle roof, central heating and central air. Public water and public sewer serve the property. Its Mebane setting is near the public library and downtown amenities.
Work already completed or started includes the roof, select windows, siding, and furnace ductwork. The building also offers storage, vinyl and wood siding, a shingle roof, central heating and central air. Public water and public sewer serve the property. Its Mebane setting is near the public library and downtown amenities.
Key Highlights
- Duplex totaling 2,136 square feet on a 0.12‑acre lot
- Unit 106 includes high ceilings, an open living/dining area, and plans for 3 bedrooms and 2 bathrooms
- Unit 108 has new floor tile and a bathtub already in place
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
$19,293
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
8.89%
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%
$385,860
$385.9K
Cap Rate 7%
$275,614
$275.6K
Cap Rate 9%
$214,367
$214.4K
Market Conditions
NOI Build-Up for 2,136 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
$29.5K $13.80/SF
− Vacancy
−$1.9K −$0.90/SF
EGI
$27.6K $12.90/SF
− OpEx
−$8.3K −$3.87/SF
NOI
$19.3K $9.03/SF
Area
Alamance County, NC
Vacancy
6.50%
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%
$385,860
Cap Rate 7%
$275,614
Cap Rate 9%
$214,367
Alternative Uses
Best Use
Multifamily LT 5
$275.6K
$241.2K – $321.6K
NOI $19,293 @ 7.0% cap · market cap 8.89%
Second Best
Apartment 5plus
$242.3K
$212.0K – $282.7K
NOI $16,962 @ 7.0% cap · market cap 7.82%
Theoretical Best
Office A
$704.2K
$616.2K – $821.6K
NOI $49,296 @ 7.0% cap · market cap 22.72%
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
486
Businesses Nearby
Explore this area
Business Placement
Demographics for 27302, NC
33,237
Population
14,997
Households
2.2
Avg Household Size
40
Median Age
34%
College-Educated
90%
High-School Grad
114.7 sq mi
ZIP Area
290
Density / Sq Mi
$81,875
Median Household Income
$45,502
Median Earnings
$1,130
Median Rent
$275,400
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with substantial work underway and public water and sewer service.
Where is this duplex located?
The property is located at 106 -108 S 2nd Street Mebane, NC.
What is the asking price?
The asking price for this property is $217,000.
What are key features of this property?
This property features: Duplex totaling 2,136 square feet on a 0.12‑acre lot; Unit 106 includes high ceilings, an open living/dining area, and plans for 3 bedrooms and 2 bathrooms; Unit 108 has new floor tile and a bathtub already in place
