Duplex Residential Income
1204 Cornell Street Durham, NC 27707
New
For Sale
$325,000
MULTI_FAMILY - Durham, NC
Property Size1,325 SF
Lot Size0.10 Acres
Price / SF$245.28
Days on Market2
Property Features for 1204 Cornell Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 2
- Bathrooms
- 2
- Rooms
- Bathroom 2, Bedroom 2, Basement, Bedroom 1, Bathroom 1
- Parking features
- On Street
- Basement
- Crawl Space
- Standard status
- Active
- Size
- 1,325 SF
- Lot size
- 0.10 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 2125
Utilities
- Sewer type
- Public Sewer
- Cooling system
- Ductless, Central Air
- Water source
- Spring
Building Details
- Year built
- 1935
- Floors in Building
- 1
- Number of units
- 2
- Flooring type
- Hardwood
- Building materials
- Vinyl Siding
- Roof type
- Metal
Listing Agency:
Northside Realty Inc.
(919) 784-0101
Listed By:
Stephanie Anson · License #3086504
(919) 335-3048
Added: Jul 23
Last Checked: Jul 24 at 6:06AM
MLS# 10181978
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 residential income property includes one duplex with two separate sides, and each unit is configured as 1 bedroom and 1 bathroom. Interior features include granite countertops and stainless steel appliances. The property is presented for sale as a 1-duplex package.
Located in Durham, NC (27707), the duplex is described as being just minutes to downtown Durham and nearby institutions and employment centers including NCCU, Duke, RTP, and RDU, as well as major highways.
The seller notes the home has been used as a short-term rental under the current owner. The listing is for the duplex at 1204 Cornell Street, Durham, NC 27707.
Located in Durham, NC (27707), the duplex is described as being just minutes to downtown Durham and nearby institutions and employment centers including NCCU, Duke, RTP, and RDU, as well as major highways.
The seller notes the home has been used as a short-term rental under the current owner. The listing is for the duplex at 1204 Cornell Street, Durham, NC 27707.
Key Highlights
- Duplex built in 1935 with vinyl siding and a metal roof
- Each unit has 1 bedroom and 1 bathroom (2 sides total)
- Kitchen features include granite countertops and stainless steel appliances
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 | $18.3k | $13.80 |
| − Vacancy | −$2.0k | −$1.53 |
| EGI | $16.3k | $12.27 |
| − OpEx | −$4.9k | −$3.68 |
| NOI | $11.4k | $8.59 |
1,325 SF · lease $13.80/SF/yr · vacancy 11.11% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$162.5K
$142.2K – $189.6K
NOI $11,377 @ 7.0% cap · market cap 3.50%
Second Best
Apartment 5plus
$142.3K
$124.5K – $166.0K
NOI $9,961 @ 7.0% cap · market cap 3.06%
Theoretical Best
Office A
$427.9K
$374.4K – $499.2K
NOI $29,950 @ 7.0% cap · market cap 9.22%
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 - Duplex for sale with two 1-bed, 1-bath sides, granite countertops, and stainless steel appliances.
Where is this duplex located?
The property is located at 1204 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 built in 1935 with vinyl siding and a metal roof; Each unit has 1 bedroom and 1 bathroom (2 sides total); Kitchen features include granite countertops and stainless steel appliances
