3-Unit Multifamily Condo
New
For Sale
$902,000
1103 Camden Avenue, Durham, NC 27701
Residential Income, Durham, NC
Property Size3,120 SF
Price / SF$289.10
Days on Market1
Property Features for 1103 Camden Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Zoning
RM-12
Bedrooms
7
Bathrooms
7
Full bathrooms
6
Half bathrooms
1
Rooms
Bedroom 3, Bathroom 5, Bathroom 4, Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 7, Bathroom 6, Dining Room, Laundry Room, Bedroom 7, Bedroom 6, Bedroom 2, Bedroom 4, Bedroom 1, Bedroom 5
Parking
6
Patio and Porch features
Deck
Interior features
Breakfast Bar, Double Vanity, Kitchen Island, Kitchen/Dining Room Combination, Pantry, Quartz Counters, Recessed Lighting, Walk-In Shower
Exterior features
Balcony, Lighting, Private Entrance, Rain Gutters
Appliances
Built-In Electric Range, Built-In Range, Dishwasher, Disposal, Electric Range, Electric Water Heater, Microwave, Range, Range Hood, Stainless Steel Appliance(s)
Subdivision
Canopy Crossing at Camden Condominium
Lot features
Landscaped
Elementary school
Durham - Club Boulevard Elementary
Middle school
Durham - Brogden Middle
High school
Durham - Riverside High
Standard status
Active
APN
109603
Size
3,120 SF
Taxes and HOA fees
Tax Year
2026
Tax Description
Prop-Reynolds Marjorie Pl:000000-000000
Tax Annual Amount
2409
HOA Fee
$230 Monthly
Legal Description
Prop-Reynolds Marjorie Pl:000000-000000
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Central Air, Heat Pump
Water source
Public
Building Details
Year built
2026
Floors in Building
1
Number of units
3
Flooring type
Wood, Carpet, Vinyl
Building materials
Fiber Cement
Roof type
Shingle
Listing Agency:
Compass -- Raleigh
(919) 726-6548
Listed By:
Johnny Chappell · License #267248
(919) 737-2247
Added: Sep 1
Last Checked: Sep 1 at 6:06PM
MLS# 10189981
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 multifamily condominium offering includes three newly constructed residences distributed across two buildings. The asset combines a two-bedroom upper condo and a two-bedroom lower condo at 1107 Camden Avenue with a larger three-bedroom residence at 1103A Camden Avenue. The homes feature contemporary finishes, modern architectural details, quartz counters, kitchen islands, walk-in showers, balconies or decks, private entrances, and stainless steel appliances. The property is under construction with a 2026 year built designation.
The residences total 3,120 square feet with seven bedrooms, 6.5 bathrooms, and six dedicated parking spaces. Public water and public sewer serve the property, while heating and cooling are provided by heat pump systems with central air. HOA documents contain no rental restrictions. The community is positioned in Duke Park near Downtown Durham, Duke University, employment centers, dining, and entertainment destinations.
The residences total 3,120 square feet with seven bedrooms, 6.5 bathrooms, and six dedicated parking spaces. Public water and public sewer serve the property, while heating and cooling are provided by heat pump systems with central air. HOA documents contain no rental restrictions. The community is positioned in Duke Park near Downtown Durham, Duke University, employment centers, dining, and entertainment destinations.
Key Highlights
- Three condominium residences across two buildings
- 3,120 square feet with 7 bedrooms and 6.5 bathrooms
- 1107 Camden Avenue includes one upper and one lower condo; 1103A Camden Avenue adds a larger residence
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
$26,791
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
2.97%
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%
$535,820
$535.8K
Cap Rate 7%
$382,729
$382.7K
Cap Rate 9%
$297,678
$297.7K
Market Conditions
NOI Build-Up for 3,120 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
$43.1K $13.80/SF
− Vacancy
−$4.8K −$1.53/SF
EGI
$38.3K $12.27/SF
− OpEx
−$11.5K −$3.68/SF
NOI
$26.8K $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%
$535,820
Cap Rate 7%
$382,729
Cap Rate 9%
$297,678
Alternative Uses
Best Use
Multifamily LT 5
$382.7K
$334.9K – $446.5K
NOI $26,791 @ 7.0% cap · market cap 2.97%
Second Best
Apartment 5plus
$335.1K
$293.2K – $390.9K
NOI $23,456 @ 7.0% cap · market cap 2.60%
Theoretical Best
Office A
$1.01M
$881.6K – $1.18M
NOI $70,524 @ 7.0% cap · market cap 7.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
450
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?
Multifamily property - Two-building condominium offering with contemporary finishes, dedicated parking, and no rental restrictions in HOA documents.
Where is this multifamily property located?
The property is located at 1103 Camden Avenue Durham, NC.
What is the asking price?
The asking price for this property is $902,000.
What are key features of this property?
This property features: Three condominium residences across two buildings; 3,120 square feet with 7 bedrooms and 6.5 bathrooms; 1107 Camden Avenue includes one upper and one lower condo; 1103A Camden Avenue adds a larger residence
