Duplex with Private
For Sale
$259,000
Pending
1207 Collins Drive, Burlington, NC 27215
Two-unit residential property with a private driveway and MDR zoning in Burlington.
Property Size1,684 SF
Days on Market30
Property Features for 1207 Collins Drive
General Information
Standard status
Pending
Size
1,684 SF
Property subtype
Residential Income
Zoning
MDR
Lease Term
Month To Month
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,360
Amenities
Central Air, Separate Meters
Separate Meters, None
Driveway, Private
Building Details
Building Size
1,684 SF
Year Built
1985
Buildings
1
Stories
1
Listing Agency:
(336) 266-0617
Listed By:
Spencer Pate
(336) 266-0617
Source:
Evrealestate
Added: Aug 1
Changed: Aug 29
Last Checked: Aug 29 at 7:28PM
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 Spencer Pate
Investment Insights
Based on property information with market context.
This duplex includes 1,684 square feet of property size and was built in 1985. The property has a private driveway and is identified with MDR zoning.
Located at 1207 Collins Drive in Burlington, North Carolina, the property is accessed from Collins Drive via Chapel Hill Road and Maple Avenue, with connectivity to I-40 W through Exit 145.
Located at 1207 Collins Drive in Burlington, North Carolina, the property is accessed from Collins Drive via Chapel Hill Road and Maple Avenue, with connectivity to I-40 W through Exit 145.
Key Highlights
- Duplex with 1,684 square feet of property size
- Built in 1985
- MDR zoning
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$15,210
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.87%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$304,200
$304.2K
Cap Rate 7%
$217,286
$217.3K
Cap Rate 9%
$169,000
$169.0K
Market Conditions
NOI Build-Up for 1,684 SF
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.
Gross rent
$23.2K $13.80/SF
− Vacancy
−$1.5K −$0.90/SF
EGI
$21.7K $12.90/SF
− OpEx
−$6.5K −$3.87/SF
NOI
$15.2K $9.03/SF
Area
Alamance County, NC
Vacancy
6.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$304,200
Cap Rate 7%
$217,286
Cap Rate 9%
$169,000
Alternative Uses
Best Use
Multifamily LT 5
$217.3K
$190.1K – $253.5K
NOI $15,210 @ 7.0% cap · market cap 5.87%
Second Best
Apartment 5plus
$191.0K
$167.2K – $222.9K
NOI $13,373 @ 7.0% cap · market cap 5.16%
Theoretical Best
Office A
$555.2K
$485.8K – $647.8K
NOI $38,865 @ 7.0% cap · market cap 15.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
285
Businesses Nearby
Explore this area
Business Placement
Demographics for 27215, NC
44,620
Population
21,854
Households
2
Avg Household Size
42
Median Age
37%
College-Educated
92%
High-School Grad
63.1 sq mi
ZIP Area
707
Density / Sq Mi
$66,669
Median Household Income
$45,267
Median Earnings
$1,112
Median Rent
$241,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with a private driveway and MDR zoning in Burlington.
Where is this duplex located?
The property is located at 1207 Collins Drive Burlington, NC.
What is the asking price?
The asking price for this property is $259,000.
What are key features of this property?
This property features: Duplex with 1,684 square feet of property size; Built in 1985; MDR zoning
