Duplex with Granite
For Sale
$324,000
1202 Cornell St, Durham, NC 27707
Two separate residences offer one-bedroom layouts with stainless steel appliances and granite countertops.
Property Size1,325 SF
Price / SF$244.53
Days on Market67
Property Features for 1202 Cornell St
General Information
Standard status
Active
Size
1,325 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
1935
Buildings
1
Listing Agency:
Northside Realty Inc.
Listed By:
Stephanie Anson · License #270558
(407) 252-8240
Source:
Livingnc
Added: Aug 10
Changed: Oct 3
Last Checked: Oct 7 at 5:48PM
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 Northside Realty Inc.
Investment Insights
Based on property information with market context.
This duplex at 1202 Cornell St includes two separate units, with each side arranged as one bedroom and one bathroom. The interiors feature granite countertops and stainless steel appliances. The property contains 1325 square feet and was built in 1935.
The Durham address places the property minutes from downtown Durham, North Carolina Central University, Duke University, Research Triangle Park, Raleigh-Durham International Airport, and major highways. The current owner has used the duplex as a short-term rental, providing a documented prior use for the two-unit configuration.
The Durham address places the property minutes from downtown Durham, North Carolina Central University, Duke University, Research Triangle Park, Raleigh-Durham International Airport, and major highways. The current owner has used the duplex as a short-term rental, providing a documented prior use for the two-unit configuration.
Key Highlights
- Two‑unit duplex totaling 1325 square feet
- Each unit includes 1 bedroom and 1 bathroom
- Granite countertops and stainless steel appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,377
Cap Rate
3.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$227,540
$227.5K
Cap Rate 7%
$162,529
$162.5K
Cap Rate 9%
$126,411
$126.4K
Market Conditions
NOI Build-Up for 1,325 SF
Gross rent
$18.3K $13.80/SF
− Vacancy
−$2.0K −$1.53/SF
EGI
$16.3K $12.27/SF
− OpEx
−$4.9K −$3.68/SF
NOI
$11.4K $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%
$227,540
Cap Rate 7%
$162,529
Cap Rate 9%
$126,411
Alternative Uses
Best Use
Multifamily LT 5
$162.5K
$142.2K – $189.6K
NOI $11,377 @ 7.0% cap · market cap 3.51%
Second Best
Apartment 5plus
$142.3K
$124.5K – $166.0K
NOI $9,961 @ 7.0% cap · market cap 3.07%
Theoretical Best
Office A
$427.9K
$374.4K – $499.2K
NOI $29,950 @ 7.0% cap · market cap 9.24%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
580
Businesses Nearby
Explore this area
Business Placement
Demographics for 27707, NC
49,787
Population
23,528
Households
2.1
Avg Household Size
34
Median Age
57%
College-Educated
92%
High-School Grad
20.7 sq mi
ZIP Area
2,405
Density / Sq Mi
$72,432
Median Household Income
$45,803
Median Earnings
$1,364
Median Rent
$371,500
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 - Two separate residences offer one-bedroom layouts with stainless steel appliances and granite countertops.
Where is this duplex located?
The property is located at 1202 Cornell St Durham, NC.
What is the asking price?
The asking price for this property is $324,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1325 square feet; Each unit includes 1 bedroom and 1 bathroom; Granite countertops and stainless steel appliances
