Duplex with Detached
For Sale
$229,500
111 W Summit Ave, Burlington, NC 27215
Each residence has a private laundry room, with additional parking provided by a double carport and front driveway.
Property Size1,736 SF
Price / SF$132.20
Days on Market8
Property Features for 111 W Summit Ave
General Information
Standard status
Active
Size
1,736 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Amenities
deck
Building Details
Year Built
1936
Buildings
1
Listing Agency:
LPT Realty, LLC
Listed By:
Dwight Epperson · License #59496
(336) 260-2189
Source:
Searchhomesinnorthcarolina
Added: Oct 8
Changed: Oct 13
Last Checked: Oct 14 at 11:16PM
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 LPT Realty, LLC
Investment Insights
Based on property information with market context.
Built in 1936, this duplex contains two residences, each with one bedroom, one bathroom, a kitchen, a living room, and a laundry room. The property measures 1,736 SF and includes a double carport, a detached garage, and additional parking in the front driveway. A deck at the rear adds outdoor space.
Located at 111 W Summit Ave in Burlington, the property offers two separately arranged living spaces and on-site parking.
Located at 111 W Summit Ave in Burlington, the property offers two separately arranged living spaces and on-site parking.
Key Highlights
- Two residences, each with one bedroom and one bathroom
- 1,736 SF property built in 1936
- Each residence includes a kitchen, living room, and laundry room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,680
Cap Rate
6.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$313,600
$313.6K
Cap Rate 7%
$224,000
$224.0K
Cap Rate 9%
$174,222
$174.2K
Market Conditions
NOI Build-Up for 1,736 SF
Gross rent
$24.0K $13.80/SF
− Vacancy
−$1.6K −$0.90/SF
EGI
$22.4K $12.90/SF
− OpEx
−$6.7K −$3.87/SF
NOI
$15.7K $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 Rate 5%
$313,600
Cap Rate 7%
$224,000
Cap Rate 9%
$174,222
Alternative Uses
Best Use
Multifamily LT 5
$224.0K
$196.0K – $261.3K
NOI $15,680 @ 7.0% cap · market cap 6.83%
Second Best
Apartment 5plus
$196.9K
$172.3K – $229.8K
NOI $13,786 @ 7.0% cap · market cap 6.01%
Theoretical Best
Office A
$572.4K
$500.8K – $667.8K
NOI $40,065 @ 7.0% cap · market cap 17.46%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
864
Businesses Nearby
Explore this area
Business Placement
Demographics for 27215, NC
44,620
Population
21,854
Households
2
Avg Household Size
42
Median Age
37%
College-Educated
92%
High-School Grad
63.1 sq mi
ZIP Area
707
Density / Sq Mi
$66,669
Median Household Income
$45,267
Median Earnings
$1,112
Median Rent
$241,700
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
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence has a private laundry room, with additional parking provided by a double carport and front driveway.
Where is this duplex located?
The property is located at 111 W Summit Ave Burlington, NC.
What is the asking price?
The asking price for this property is $229,500.
What are key features of this property?
This property features: Two residences, each with one bedroom and one bathroom; 1,736 SF property built in 1936; Each residence includes a kitchen, living room, and laundry room
