Four-Duplex Brick Multifamily
For Sale
$1,498,000
14071413 1407-1413 Clarendon St, Durham, NC 27705
The offering combines brick, two-story duplexes with private yards, rear parking, and full residential unit amenities.
Property Size6,912 SF
Price / SF$216.72
Days on Market48
Property Features for 14071413 1407-1413 Clarendon St
General Information
Standard status
Active
Size
6,912 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
8
Amenities
hardwood floors
central HVAC
gas heat
washer/dryer
dishwasher
fenced-in back yard
off-street parking
Building Details
Year Built
1948
Buildings
4
Stories
2
Construction
brick
Listing Agency:
Frasher Whaley Realty Group
(919) 475-3891
Listed By:
John Whaley · License #262351
Source:
Bonniestrowd
Added: Jul 13
Changed: Aug 28
Last Checked: Aug 29 at 12:23PM
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 multifamily offering includes four brick duplexes, each arranged over two stories. Individual units feature hardwood flooring, central HVAC, gas heat, washer and dryer connections, dishwashers, and fenced back yards. Off-street parking is positioned behind the buildings. The properties were built in 1948 and are grouped across four parcels.
The address is near Duke and downtown Durham, placing the package within reach of both destinations. The combined property size is 6,912, providing a substantial residential holding with multiple buildings and separate parcels.
The address is near Duke and downtown Durham, placing the package within reach of both destinations. The combined property size is 6,912, providing a substantial residential holding with multiple buildings and separate parcels.
Key Highlights
- Four duplexes grouped across four parcels
- Brick, two‑story construction built in 1948
- Each unit includes hardwood floors, central HVAC, gas heat, washer/dryer, and a dishwasher
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
3.96%
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 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
Current Use
Lease Details
8
Residential units
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 - The offering combines brick, two-story duplexes with private yards, rear parking, and full residential unit amenities.
Where is this duplex located?
The property is located at 14071413 1407-1413 Clarendon St 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 duplexes grouped across four parcels; Brick, two‑story construction built in 1948; Each unit includes hardwood floors, central HVAC, gas heat, washer/dryer, and a dishwasher
