Durham Multifamily Investment
For Sale
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1407 Clarendon Street, Durham, NC 27705
Eight-unit multifamily property in Durham's Walltown neighborhood.
Property Size6,912 SF
Price / SF$216.72
Days on Market70
Property Features for 1407 Clarendon Street
General Information
Standard status
Active
Size
6,912 SF
Property subtype
Multifamily
Listing Agency:
Frasher Whaley Realty Group
Listed By:
John Whaley · License #NC 262351
Source:
Crexi
Added: May 22
Changed: Jul 10
Last Checked: Jul 30 at 10:16AM
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 For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $95.4k | $13.80 |
| − Vacancy | −$10.6k | −$1.53 |
| EGI | $84.8k | $12.27 |
| − OpEx | −$25.4k | −$3.68 |
| NOI | $59.4k | $8.59 |
6,912 SF · lease $13.80/SF/yr · vacancy 11.11% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$847.9K
$741.9K – $989.2K
NOI $59,352 @ 7.0% cap · market cap 3.96%
Second Best
Apartment 5plus
$742.3K
$649.5K – $866.1K
NOI $51,963 @ 7.0% cap · market cap 3.47%
Theoretical Best
Office A
$2.23M
$1.95M – $2.60M
NOI $156,237 @ 7.0% cap · market cap 10.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
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 - 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 $1,498,000.
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
