Renovated
For Sale
$375,000
1120 Drew St, Durham, NC 27701
Two-unit residential property with updated interiors, practical layouts, and major appliances included.
Property Size1,512 SF
Price / SF$248.02
Days on Market88
Property Features for 1120 Drew St
General Information
Standard status
Active
Size
1,512 SF
Property subtype
Multi-Family
Building Details
Year Built
1971
Listing Agency:
EXP Realty LLC
Listed By:
Vicente Jose De La P Barrios Hernandez
(888) 584-9431
Source:
Rubyhenderson
Added: Jul 20
Changed: Oct 3
Last Checked: Oct 7 at 3:29PM
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 EXP Realty LLC
Investment Insights
Based on property information with market context.
This duplex contains two residential units within a 1,512-square-foot property built in 1971. Both units have undergone renovation, with updated finishes and functional interior layouts suited to residential occupancy.
Major appliances are included with the property. The asset is located at 1120 Drew St in Durham, North Carolina, providing a defined two-unit configuration for residential income ownership.
Major appliances are included with the property. The asset is located at 1120 Drew St in Durham, North Carolina, providing a defined two-unit configuration for residential income ownership.
Key Highlights
- Two‑unit duplex configuration
- 1,512 square feet of total property area
- Renovated interiors with updated finishes
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,983
Cap Rate
3.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$259,660
$259.7K
Cap Rate 7%
$185,471
$185.5K
Cap Rate 9%
$144,256
$144.3K
Market Conditions
NOI Build-Up for 1,512 SF
Gross rent
$20.9K $13.80/SF
− Vacancy
−$2.3K −$1.53/SF
EGI
$18.5K $12.27/SF
− OpEx
−$5.6K −$3.68/SF
NOI
$13.0K $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 Rate 5%
$259,660
Cap Rate 7%
$185,471
Cap Rate 9%
$144,256
Alternative Uses
Best Use
Multifamily LT 5
$185.5K
$162.3K – $216.4K
NOI $12,983 @ 7.0% cap · market cap 3.46%
Second Best
Apartment 5plus
$162.4K
$142.1K – $189.5K
NOI $11,367 @ 7.0% cap · market cap 3.03%
Theoretical Best
Office A
$488.2K
$427.2K – $569.6K
NOI $34,177 @ 7.0% cap · market cap 9.11%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
623
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
Check the figures for this property
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 - Two-unit residential property with updated interiors, practical layouts, and major appliances included.
Where is this duplex located?
The property is located at 1120 Drew St Durham, NC.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Two‑unit duplex configuration; 1,512 square feet of total property area; Renovated interiors with updated finishes
