Four-Bedroom
For Sale
$335,000
1421 Cherrycrest Dr, Durham, NC 27704
Duplex with separate living areas and a layout adaptable to multifamily occupancy.
Property Size2,166 SF
Price / SF$154.66
Days on Market79
Property Features for 1421 Cherrycrest Dr
General Information
Standard status
Active
Size
2,166 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1984
Listing Agency:
RE/MAX One Hundred
Listed By:
Kevin Fairfax · License #263060
(919) 864-2455
Source:
Livingnc
Added: Jul 29
Changed: Oct 3
Last Checked: Oct 7 at 4:28PM
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 RE/MAX One Hundred
Investment Insights
Based on property information with market context.
Built in 1984, this Durham duplex contains 2,166 square feet with four bedrooms and three bathrooms. The interior arrangement includes generous living areas and separation between living spaces, creating a practical configuration for multifamily occupancy or rental use.
The property is located at 1421 Cherrycrest Dr in Durham, North Carolina, near shopping, dining, and major commuter routes. Its room count and divided living arrangement provide a defined physical foundation for residential income use or an owner-occupied duplex setup.
The property is located at 1421 Cherrycrest Dr in Durham, North Carolina, near shopping, dining, and major commuter routes. Its room count and divided living arrangement provide a defined physical foundation for residential income use or an owner-occupied duplex setup.
Key Highlights
- Duplex with 4 bedrooms and 3 bathrooms
- 2,166 square feet of interior space
- Separate living areas support multifamily occupancy
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,599
Cap Rate
5.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$371,980
$372.0K
Cap Rate 7%
$265,700
$265.7K
Cap Rate 9%
$206,656
$206.7K
Market Conditions
NOI Build-Up for 2,166 SF
Gross rent
$29.9K $13.80/SF
− Vacancy
−$3.3K −$1.53/SF
EGI
$26.6K $12.27/SF
− OpEx
−$8.0K −$3.68/SF
NOI
$18.6K $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%
$371,980
Cap Rate 7%
$265,700
Cap Rate 9%
$206,656
Alternative Uses
Best Use
Multifamily LT 5
$265.7K
$232.5K – $310.0K
NOI $18,599 @ 7.0% cap · market cap 5.55%
Second Best
Apartment 5plus
$232.6K
$203.6K – $271.4K
NOI $16,284 @ 7.0% cap · market cap 4.86%
Theoretical Best
Office A
$699.4K
$612.0K – $816.0K
NOI $48,960 @ 7.0% cap · market cap 14.61%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
226
Businesses Nearby
Explore this area
Business Placement
Demographics for 27704, NC
39,532
Population
16,824
Households
2.3
Avg Household Size
36
Median Age
33%
College-Educated
85%
High-School Grad
41.4 sq mi
ZIP Area
955
Density / Sq Mi
$62,435
Median Household Income
$36,955
Median Earnings
$1,306
Median Rent
$270,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex with separate living areas and a layout adaptable to multifamily occupancy.
Where is this duplex located?
The property is located at 1421 Cherrycrest Dr Durham, NC.
What is the asking price?
The asking price for this property is $335,000.
What are key features of this property?
This property features: Duplex with 4 bedrooms and 3 bathrooms; 2,166 square feet of interior space; Separate living areas support multifamily occupancy
