Brick Duplex
For Sale
$1,387,000
1407-1413 Clarendon Street, Durham, NC 27705
Residential Income, Durham, NC
Property Size6,912 SF
Lot Size0.64 Acres
Price / SF$200.67
Days on Market138
Property Features for 1407-1413 Clarendon Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
8
Bathrooms
8
Full bathrooms
8
Rooms
Bathroom 3, Bedroom 8, Bedroom 2, Bathroom 2, Bedroom 6, Bathroom 1, Bathroom 4, Bathroom 5, Bedroom 7, Bedroom 4, Bathroom 7, Bedroom 1, Bathroom 8, Bedroom 3, Bathroom 6, Bedroom 5
Parking features
Driveway
Window features
Blinds
Interior features
Bathtub/Shower Combination
Exterior features
Fenced Yard, Rain Gutters
Fencing
Fenced
Appliances
Dishwasher, Electric Range, Electric Water Heater, Refrigerator, Washer/Dryer
Subdivision
Not in a Subdivision
Standard status
Active
APN
0822-46-2637
Size
6,912 SF
Lot size
0.64 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
14693
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Central
Cooling system
Central Air
Water source
Public
Amenities
hardwood floors
central HVAC
gas heat
washer/dryer
dishwasher
fenced-in back yard
off-street parking
Building Details
Year built
1948
Floors in Building
2
Number of units
4
Flooring type
Hardwood
Building materials
Brick Veneer
Roof type
Shingle
Listing Agency:
Frasher Whaley Realty Group
(919) 794-3233
Listed By:
John Whaley · License #262351
(919) 475-3891
Added: May 21
Changed: Sep 15
Last Checked: Oct 5 at 9:06AM
MLS# 10168706
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 residential income offering includes four brick, two-story duplexes grouped across four parcels. The property totals 6912 square feet on 0.64 acres, with each unit featuring hardwood flooring, central HVAC, natural-gas heat, a washer/dryer, dishwasher, and fenced rear yard. Off-street parking is located behind the buildings.
Built in 1948, the package includes public water and public sewer service, shingle roofs, brick veneer construction, central air conditioning, and rain gutters. The property is situated in Durham’s Walltown neighborhood, close to Duke and downtown Durham.
Built in 1948, the package includes public water and public sewer service, shingle roofs, brick veneer construction, central air conditioning, and rain gutters. The property is situated in Durham’s Walltown neighborhood, close to Duke and downtown Durham.
Key Highlights
- Four brick duplexes grouped across four parcels
- 6912 square feet on 0.64 acres
- Two‑story buildings constructed in 1948
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
$59,352
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
4.28%
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%
$1,187,040
$1.2M
Cap Rate 7%
$847,886
$847.9K
Cap Rate 9%
$659,467
$659.5K
Market Conditions
NOI Build-Up for 6,912 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
$95.4K $13.80/SF
− Vacancy
−$10.6K −$1.53/SF
EGI
$84.8K $12.27/SF
− OpEx
−$25.4K −$3.68/SF
NOI
$59.4K $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%
$1,187,040
Cap Rate 7%
$847,886
Cap Rate 9%
$659,467
Alternative Uses
Best Use
Multifamily LT 5
$847.9K
$741.9K – $989.2K
NOI $59,352 @ 7.0% cap · market cap 4.28%
Second Best
Apartment 5plus
$742.3K
$649.5K – $866.1K
NOI $51,963 @ 7.0% cap · market cap 3.75%
Theoretical Best
Office A
$2.23M
$1.95M – $2.60M
NOI $156,237 @ 7.0% cap · market cap 11.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
8
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
879
Businesses Nearby
Explore this area
Business Placement
Demographics for 27705, NC
50,472
Population
24,108
Households
2.1
Avg Household Size
34
Median Age
62%
College-Educated
91%
High-School Grad
42.1 sq mi
ZIP Area
1,199
Density / Sq Mi
$71,153
Median Household Income
$43,138
Median Earnings
$1,422
Median Rent
$398,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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-story buildings offer hardwood floors, central HVAC, fenced yards, and off-street parking.
Where is this duplex located?
The property is located at 1407-1413 Clarendon Street Durham, NC.
What is the asking price?
The asking price for this property is $1,387,000.
What are key features of this property?
This property features: Four brick duplexes grouped across four parcels; 6912 square feet on 0.64 acres; Two‑story buildings constructed in 1948
