Residential Income Duplex with Detached
1111 Midland Terrace Durham, NC 27704
For Sale
$400,000
MULTI_FAMILY - Durham, NC
Property Size1,802 SF
Lot Size0.31 Acres
Price / SF$221.98
Days on Market54
Property Features for 1111 Midland Terrace
General Information
- Property type
- Residential Multi Family
- Property subtype
- Single Family Residence
- Zoning
- R-5
- Bedrooms
- 3
- Bathrooms
- 2
- Rooms
- Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 3
- Parking
- 6
- Parking features
- Garage, Driveway
- Patio and Porch features
- Patio, Porch
- Appliances
- Dryer, Range, Refrigerator, Washer
- Standard status
- Active
- APN
- 130189
- Size
- 1,802 SF
- Lot size
- 0.31 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- Midland Terrace/Lt#03 & L T#04 Pt Pl:000018-000124
- Tax Annual Amount
- 2754
Utilities
- Sewer type
- Public Sewer
- Heating system
- Varies by Unit (Heating)
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1946
- Floors in Building
- 1
- Number of units
- 2
- Flooring type
- Hardwood, Laminate
- Roof type
- Rubber, Shingle
- Additional Structures
- Storage
Listing Agency:
Keller Williams Elite Realty
(984) 244-5830
Listed By:
Robert Hunt · License #278551
(919) 699-3210
Added: Jun 1
Changed: Jul 24
Last Checked: Jul 24 at 9:06PM
MLS# 10170943
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 two-property residential income portfolio includes a 1,226 SF 2-bedroom, 1-bath ranch home and a 576 SF 1-bedroom, 1-bath cottage. Both residences feature bright, inviting floor plans with updates to major systems and tasteful cosmetic improvements in the kitchens and bathrooms. An oversized detached garage is also included, offering additional on-site space for future possibilities. The combined site is 0.31 acres and is zoned R-5.
Located at 1111 Midland Terrace in Durham, NC 27704, the property is described as being just minutes from Downtown Durham, providing convenient access to the area. The flexible setup can support multiple living arrangements or income uses within the two-unit configuration and existing detached structure.
Located at 1111 Midland Terrace in Durham, NC 27704, the property is described as being just minutes from Downtown Durham, providing convenient access to the area. The flexible setup can support multiple living arrangements or income uses within the two-unit configuration and existing detached structure.
Key Highlights
- Two‑property portfolio on a 0.31‑acre lot: 1226 SF 2bd/1ba ranch home plus 576 SF 1bd/1ba cottage
- Updated major systems and tasteful cosmetic updates in both kitchens and bathrooms
- Central air; heating varies by unit
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $24.9k | $13.80 |
| − Vacancy | −$2.8k | −$1.53 |
| EGI | $22.1k | $12.27 |
| − OpEx | −$6.6k | −$3.68 |
| NOI | $15.5k | $8.59 |
1,802 SF · lease $13.80/SF/yr · vacancy 11.11% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$221.0K
$193.4K – $257.9K
NOI $15,473 @ 7.0% cap · market cap 3.87%
Second Best
Apartment 5plus
$193.5K
$169.3K – $225.8K
NOI $13,547 @ 7.0% cap · market cap 3.39%
Theoretical Best
Office A
$581.9K
$509.2K – $678.9K
NOI $40,732 @ 7.0% cap · market cap 10.18%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Two residential units on one lot, including a ranch home and a cottage, with updated kitchens and baths.
Where is this duplex located?
The property is located at 1111 Midland Terrace Durham, NC.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Two‑property portfolio on a 0.31‑acre lot: 1226 SF 2bd/1ba ranch home plus 576 SF 1bd/1ba cottage; Updated major systems and tasteful cosmetic updates in both kitchens and bathrooms; Central air; heating varies by unit
