Duplex with Two 1BR
1202 Cornell Street Durham, NC 27707
New
MULTI_FAMILY - Durham, NC
Property size:
2,650 SFLot size:
0.20 AcresPrice / SF:
$122/SF- Added:
- Jul 10, 2026
- Days on Market:
- 1
- Last Refresh:
- Jul 10 at 4:06 pm
Property Features for 1202 Cornell Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 4
- Rooms
- Basement, Bathroom 2, Bedroom 4, Bathroom 3, Bedroom 2, Bedroom 3, Bathroom 4, Bathroom 1, Bedroom 1
- Parking features
- On Street
- Basement
- Crawl Space
- Appliances
- Electric Range
- Standard status
- Active
- Size
- 2,650 SF
- Lot size
- 0.20 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 2126
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1935
- Floors in Building
- 1
- Number of units
- 4
- Flooring type
- Hardwood
- Building materials
- Vinyl Siding
- Roof type
- Shingle
Listing agent Stephanie Anson (919) 335-3048
Listing office Northside Realty Inc. 4701 Creedmoor Rd, Ste.105, Raleigh, NC (919) 784-0101
Listing date Jul 10, 2026
MLS# 10179405
Listing URL
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 duplex is listed as 2,650 square feet and features two identical sides, each with a 1-bedroom and 1-bath layout. Each unit includes granite countertops and stainless steel appliances. The current owner has used the property as a short-term rental.
Located at 1202 Cornell Street in Durham, NC 27707, the home is described as conveniently positioned just minutes to downtown Durham and nearby employers and institutions including NCCU, Duke, RTP, and RDU, as well as major highways.
For investors or owner-occupants, the configuration provides two separate units within one property while maintaining the same core unit mix on both sides.
Located at 1202 Cornell Street in Durham, NC 27707, the home is described as conveniently positioned just minutes to downtown Durham and nearby employers and institutions including NCCU, Duke, RTP, and RDU, as well as major highways.
For investors or owner-occupants, the configuration provides two separate units within one property while maintaining the same core unit mix on both sides.
Key Highlights
- Duplex with two units; each side offers 1 bed and 1 bath
- Each unit features granite countertops and stainless steel appliances
- Previously used as a short‑term rental by the current owner
Local 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 | $36.6k | $13.80 |
| − Vacancy | −$4.1k | −$1.53 |
| EGI | $32.5k | $12.27 |
| − OpEx | −$9.8k | −$3.68 |
| NOI | $22.8k | $8.59 |
2,650 SF · lease $13.80/SF/yr · vacancy 11.11% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$325.1K
$284.4K – $379.3K
NOI $22,755 @ 7.0% cap · market cap 7.00%
Second Best
Apartment 5plus
$284.6K
$249.0K – $332.0K
NOI $19,922 @ 7.0% cap · market cap 6.13%
Theoretical Best
Office A
$855.7K
$748.8K – $998.3K
NOI $59,900 @ 7.0% cap · market cap 18.43%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Duplex offers two separate 1-bedroom, 1-bath units with stainless steel appliances and granite countertops.
Where is this duplex located?
The property is located at 1202 Cornell Street Durham, NC.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Duplex with two units; each side offers 1 bed and 1 bath; Each unit features granite countertops and stainless steel appliances; Previously used as a short‑term rental by the current owner
