Townhome-Style Duplex with
For Sale
$415,000
1214 Granby St, Durham, NC 27701
Two residences offer three bedrooms, two full baths, and single-car garage parking per unit.
Property Size2,200 SF
Price / SF$188.64
Days on Market15
Property Features for 1214 Granby St
General Information
Standard status
Active
Size
2,200 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Parking per Unit
1
Building Details
Year Built
2009
Construction
townhome style
Listed By:
Hope Tyler Home Team
(919) 332-5447
Source:
Hopetylerhometeam
Added: Sep 13
Changed: Sep 22
Last Checked: Sep 26 at 6:37AM
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 Hope Tyler Home Team
Investment Insights
Based on property information with market context.
Built in 2009, this 2,200-square-foot duplex is configured in a townhome style, with two separate residences. Each unit includes three bedrooms, two full baths, and a single-car garage. The property occupies a large corner lot near downtown Durham.
Long-term tenants are in place under annual leases, providing established occupancy for the current ownership structure. The residential layout, per-unit garage parking, and two-unit configuration provide a straightforward income-property format close to the city center.
Long-term tenants are in place under annual leases, providing established occupancy for the current ownership structure. The residential layout, per-unit garage parking, and two-unit configuration provide a straightforward income-property format close to the city center.
Key Highlights
- 2,200‑square‑foot duplex built in 2009
- Each unit has 3 bedrooms and 2 full baths
- Single‑car garage provided for each unit
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
$18,891
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
4.55%
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%
$377,820
$377.8K
Cap Rate 7%
$269,871
$269.9K
Cap Rate 9%
$209,900
$209.9K
Market Conditions
NOI Build-Up for 2,200 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
$30.4K $13.80/SF
− Vacancy
−$3.4K −$1.53/SF
EGI
$27.0K $12.27/SF
− OpEx
−$8.1K −$3.68/SF
NOI
$18.9K $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 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%
$377,820
Cap Rate 7%
$269,871
Cap Rate 9%
$209,900
Alternative Uses
Best Use
Multifamily LT 5
$269.9K
$236.1K – $314.9K
NOI $18,891 @ 7.0% cap · market cap 4.55%
Second Best
Apartment 5plus
$236.3K
$206.7K – $275.7K
NOI $16,539 @ 7.0% cap · market cap 3.99%
Theoretical Best
Office A
$710.4K
$621.6K – $828.8K
NOI $49,728 @ 7.0% cap · market cap 11.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
749
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
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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 residences offer three bedrooms, two full baths, and single-car garage parking per unit.
Where is this duplex located?
The property is located at 1214 Granby St Durham, NC.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: 2,200‑square‑foot duplex built in 2009; Each unit has 3 bedrooms and 2 full baths; Single‑car garage provided for each unit
