Durham Multifamily Investment
For Sale
Contact for pricing
1407 Clarendon Street, Durham, NC 27705
Eight-unit multifamily property in Durham's Walltown neighborhood.
Property Size6,912 SF
Price / SF$200.67
Days on Market147
Property Features for 1407 Clarendon Street
General Information
Standard status
Active
Size
6,912 SF
Property subtype
Multifamily
Net Operating Income
$97,175
Building Details
Stories
2
Units
8
Listing Agency:
Frasher Whaley Realty Group
Listed By:
John Whaley · License #NC 262351
(919) 475-3891
Source:
Crexi
Added: May 22
Changed: Oct 3
Last Checked: Oct 15 at 12:02AM
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 Frasher Whaley Realty Group
Investment Insights
Based on property information with market context.
This offering features four brick duplexes, comprising a total of eight apartments. The property is situated in Durham’s Walltown neighborhood, which is noted as desirable and is located in proximity to both Duke University and Downtown Durham. The total property size is 6912 square feet.
Key Highlights
- Four brick duplexes totaling eight apartments
- Located in Durham’s desirable Walltown neighborhood
- Proximity to Duke University
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,352
Cap Rate
4.28%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Eight-unit multifamily property in Durham's Walltown neighborhood.
Where is this duplex located?
The property is located at 1407 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 totaling eight apartments; Located in Durham’s desirable Walltown neighborhood; Proximity to Duke University
