Tenant-Occupied Duplex
For Sale
$525,000
110 Misty Court, Cary, NC 27513
Residential Income, Cary, NC
Property Size2,610 SF
Lot Size0.48 Acres
Price / SF$201.15
Days on Market210
Property Features for 110 Misty Court
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
4
Full bathrooms
26
Half bathrooms
1
Rooms
Bathroom 25, Bathroom 14, Bathroom 16, Bathroom 8, Bathroom 17, Bathroom 4, Bathroom 18, Bathroom 11, Bedroom 2, Bedroom 4, Bathroom 21, Bathroom 20, Bathroom 3, Bathroom 9, Bathroom 7, Bathroom 15, Bathroom 23, Bathroom 26, Bathroom 1, Bathroom 12, Bathroom 19, Bathroom 24, Bathroom 6, Bathroom 13, Bathroom 22, Bathroom 5, Bedroom 1, Bedroom 3, Bathroom 2, Bathroom 10, Bedroom 5
Parking features
Driveway
Subdivision
Highland Park
Elementary school
Wake - Kingswood Elementary
Middle school
Wake - Reedy Creek Middle
High school
Wake - Cary High
Standard status
Active
APN
0764743823
Size
2,610 SF
Lot size
0.48 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4057
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump, Central Air
Water source
Public
Building Details
Year built
1980
Floors in Building
1
Number of units
2
Flooring type
Laminate, Vinyl
Building materials
Cement Siding
Roof type
Shingle
Listing Agency:
Coldwell Banker HPW · Coldwell Banker Real Estate
(919) 401-7600
Listed By:
Kimberly Oakley · License #268170
(919) 349-9062
Added: Mar 8
Changed: Sep 13
Last Checked: Oct 4 at 2:06PM
MLS# 10151487
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.
Built in 1980, this 2,610-square-foot duplex contains two tenant-occupied residences. Unit A offers three bedrooms, while Unit B provides two bedrooms. Both sides are currently leased on a month-to-month basis. The property has cement siding, shingle roofing, vinyl and laminate flooring, heat-pump heating and cooling, and driveway parking.
The 0.48-acre property is served by public water and public sewer. It is located near I-40, downtown Cary, and shopping in Cary, North Carolina. The duplex configuration and existing occupancy provide a clearly defined two-unit residential income asset.
The 0.48-acre property is served by public water and public sewer. It is located near I-40, downtown Cary, and shopping in Cary, North Carolina. The duplex configuration and existing occupancy provide a clearly defined two-unit residential income asset.
Key Highlights
- Two‑unit duplex with 3‑bedroom and 2‑bedroom residences
- Both units currently occupied under month‑to‑month tenancies
- 2,610 square feet on a 0.48‑acre lot
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
$30,130
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
5.74%
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%
$602,600
$602.6K
Cap Rate 7%
$430,429
$430.4K
Cap Rate 9%
$334,778
$334.8K
Market Conditions
NOI Build-Up for 2,610 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
$45.4K $17.40/SF
− Vacancy
−$2.4K −$0.91/SF
EGI
$43.0K $16.49/SF
− OpEx
−$12.9K −$4.95/SF
NOI
$30.1K $11.54/SF
Area
Cary, NC
Vacancy
5.22%
Lease Rate
$17.40 /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%
$602,600
Cap Rate 7%
$430,429
Cap Rate 9%
$334,778
Alternative Uses
Best Use
Multifamily LT 5
$430.4K
$376.6K – $502.2K
NOI $30,130 @ 7.0% cap · market cap 5.74%
Second Best
Apartment 5plus
$395.3K
$345.9K – $461.2K
NOI $27,674 @ 7.0% cap · market cap 5.27%
Theoretical Best
Office A
$730.3K
$639.0K – $852.0K
NOI $51,120 @ 7.0% cap · market cap 9.74%
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
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,141
Businesses Nearby
Explore this area
Business Placement
Demographics for 27513, NC
46,526
Population
21,204
Households
2.2
Avg Household Size
39
Median Age
68%
College-Educated
97%
High-School Grad
16.4 sq mi
ZIP Area
2,837
Density / Sq Mi
$119,458
Median Household Income
$66,584
Median Earnings
$1,491
Median Rent
$468,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 residences provide three- and two-bedroom layouts with driveway parking and month-to-month occupancy.
Where is this duplex located?
The property is located at 110 Misty Court Cary, 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 3‑bedroom and 2‑bedroom residences; Both units currently occupied under month‑to‑month tenancies; 2,610 square feet on a 0.48‑acre lot
