Updated Duplex with Private
For Sale
$565,000
1109 Timber Drive, Garner, NC 27529
Two residential units offer separate decks, spacious outdoor areas, and an extensively renovated second unit.
Property Size2,550 SF
Days on Market56
Property Features for 1109 Timber Drive
General Information
Standard status
Active
Size
2,550 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Amenities
deck
backyard
Building Details
Building Size
2,550 SF
Year Built
1995
Listing Agency:
Gilliam Residential Realty
Listed By:
Corey Gilliam
(919) 943-1098
Source:
Dustinbennett
Added: Aug 26
Changed: Oct 9
Last Checked: Oct 19 at 4:29PM
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 Gilliam Residential Realty
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Investment Insights
Based on property information with market context.
This 2,550-square-foot duplex, built in 1995, includes two residential units with layouts designed for privacy and generous living space. Unit B has undergone a comprehensive renovation with new LVP flooring and carpet, a redesigned kitchen with granite countertops and updated cabinetry, modern fixtures, and refreshed bathrooms. Both residences feature a primary bedroom with a walk-in closet and a primary bathroom with a walk-in shower. The crawlspaces have also been updated and encapsulated.
Each unit has its own spacious deck, while the property includes a full backyard with room for outdoor use. Located at 1109 Timber Dr in Garner, the property combines separate outdoor areas with extensive improvements to one of its two units.
Each unit has its own spacious deck, while the property includes a full backyard with room for outdoor use. Located at 1109 Timber Dr in Garner, the property combines separate outdoor areas with extensive improvements to one of its two units.
Key Highlights
- 2,550‑square‑foot duplex with two residential units
- Built in 1995
- Unit B renovated with new LVP flooring, carpet, kitchen finishes, and updated bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,444
Cap Rate
5.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$588,880
$588.9K
Cap Rate 7%
$420,629
$420.6K
Cap Rate 9%
$327,156
$327.2K
Market Conditions
NOI Build-Up for 2,550 SF
Gross rent
$44.4K $17.40/SF
− Vacancy
−$2.3K −$0.90/SF
EGI
$42.1K $16.50/SF
− OpEx
−$12.6K −$4.95/SF
NOI
$29.4K $11.55/SF
Area
Wake County, NC
Vacancy
5.20%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$588,880
Cap Rate 7%
$420,629
Cap Rate 9%
$327,156
Alternative Uses
Best Use
Multifamily LT 5
$420.6K
$368.1K – $490.7K
NOI $29,444 @ 7.0% cap · market cap 5.21%
Second Best
Apartment 5plus
$372.9K
$326.3K – $435.1K
NOI $26,103 @ 7.0% cap · market cap 4.62%
Theoretical Best
Specialty Retail
$728.1K
$637.1K – $849.4K
NOI $50,966 @ 7.0% cap · market cap 9.02%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
205
Businesses Nearby
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Business Placement
Demographics for 27529, NC
54,250
Population
22,089
Households
2.5
Avg Household Size
39
Median Age
41%
College-Educated
93%
High-School Grad
57.7 sq mi
ZIP Area
940
Density / Sq Mi
$86,426
Median Household Income
$47,686
Median Earnings
$1,379
Median Rent
$325,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer separate decks, spacious outdoor areas, and an extensively renovated second unit.
Where is this duplex located?
The property is located at 1109 Timber Drive Garner, NC.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: 2,550‑square‑foot duplex with two residential units; Built in 1995; Unit B renovated with new LVP flooring, carpet, kitchen finishes, and updated bathrooms
