Two-Unit Residential
For Sale
$315,000
313 N Hyde Park Ave, Durham, NC 27703
Two-unit residential property located in downtown Durham.
Property Size2,040 SF
Price / SF$154.41
Days on Market27
Property Features for 313 N Hyde Park Ave
General Information
Standard status
Active
Size
2,040 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
renovating the other
Additional Details
Multifamily Units
2
Building Details
Year Built
1920
Listing Agency:
EXP Realty LLC
(888) 584-9431
Listed By:
Vicente Jose De La P Barrios Hernandez
Source:
Livelovechapelhilldurham
Added: Aug 4
Changed: Aug 29
Last Checked: Aug 25 at 5:02AM
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 EXP Realty LLC
Investment Insights
Based on property information with market context.
This duplex contains 2,040 square feet across a two-unit residential configuration. The property was constructed in 1920 and is located at 313 N Hyde Park Ave in Durham, North Carolina.
Its duplex format supports separate residential units within one property, offering a straightforward multifamily layout for residential ownership or investment use. The downtown Durham location adds an urban setting to the asset.
Its duplex format supports separate residential units within one property, offering a straightforward multifamily layout for residential ownership or investment use. The downtown Durham location adds an urban setting to the asset.
Key Highlights
- Two‑unit duplex configuration
- 2,040 square feet of property size
- Constructed in 1920
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
$17,517
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
5.56%
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%
$350,340
$350.3K
Cap Rate 7%
$250,243
$250.2K
Cap Rate 9%
$194,633
$194.6K
Market Conditions
NOI Build-Up for 2,040 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
$28.2K $13.80/SF
− Vacancy
−$3.1K −$1.53/SF
EGI
$25.0K $12.27/SF
− OpEx
−$7.5K −$3.68/SF
NOI
$17.5K $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%
$350,340
Cap Rate 7%
$250,243
Cap Rate 9%
$194,633
Alternative Uses
Best Use
Multifamily LT 5
$250.2K
$219.0K – $292.0K
NOI $17,517 @ 7.0% cap · market cap 5.56%
Second Best
Apartment 5plus
$219.1K
$191.7K – $255.6K
NOI $15,336 @ 7.0% cap · market cap 4.87%
Theoretical Best
Office A
$658.7K
$576.4K – $768.5K
NOI $46,112 @ 7.0% cap · market cap 14.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
634
Businesses Nearby
Explore this area
Business Placement
Demographics for 27703, NC
61,539
Population
27,122
Households
2.3
Avg Household Size
36
Median Age
45%
College-Educated
88%
High-School Grad
49.1 sq mi
ZIP Area
1,253
Density / Sq Mi
$86,953
Median Household Income
$51,462
Median Earnings
$1,469
Median Rent
$340,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property located in downtown Durham.
Where is this duplex located?
The property is located at 313 N Hyde Park Ave Durham, NC.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Two‑unit duplex configuration; 2,040 square feet of property size; Constructed in 1920
