Two-Unit Duplex
For Sale
$525,000
110 Misty Ct, Cary, NC 27513
Tenant-occupied duplex with a three-bedroom unit and a two-bedroom unit near I-40 and downtown Cary.
Property Size2,610 SF
Price / SF$201.15
Days on Market44
Property Features for 110 Misty Ct
General Information
Standard status
Active
Size
2,610 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
1 x 3BR, 1 x 2BR
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
1980
Buildings
1
Listing Agency:
Coldwell Banker HPW
(919) 349-9062
Listed By:
Kimberly Oakley · License #268170
Source:
Tcrnc
Added: Jul 18
Changed: Aug 29
Last Checked: Aug 25 at 5:33AM
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 Coldwell Banker HPW
Investment Insights
Based on property information with market context.
This duplex contains 2,610 square feet and is configured as two separate residential units. Unit A has 3 bedrooms, while Unit B has 2 bedrooms. Both sides are occupied by tenants on month-to-month arrangements.
The property is located near I-40, downtown Cary, and shopping. Current occupancy and the differing bedroom configurations provide a defined two-unit residential layout for an owner or operator evaluating a multifamily property.
The property is located near I-40, downtown Cary, and shopping. Current occupancy and the differing bedroom configurations provide a defined two-unit residential layout for an owner or operator evaluating a multifamily property.
Key Highlights
- 2,610‑square‑foot duplex with two separate units
- Unit A offers 3 bedrooms; Unit B offers 2 bedrooms
- Both units are currently tenant occupied
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
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
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
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 - Tenant-occupied duplex with a three-bedroom unit and a two-bedroom unit near I-40 and downtown Cary.
Where is this duplex located?
The property is located at 110 Misty Ct 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: 2,610‑square‑foot duplex with two separate units; Unit A offers 3 bedrooms; Unit B offers 2 bedrooms; Both units are currently tenant occupied
