Modern Triplex
For Sale
$867,999
1505 Juniper Street, Durham, NC 27703
Residential, Durham, NC
Property Size3,881 SF
Lot Size0.17 Acres
Price / SF$223.65
Days on Market160
Property Features for 1505 Juniper Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
R-3
Bedrooms
8
Bathrooms
7
Full bathrooms
5
Half bathrooms
3
Rooms
Bathroom 4, Bedroom 6, Bedroom 7, Bedroom 8, Bedroom 5, Bathroom 2, Bathroom 6, Bedroom 1, Bathroom 1, Bedroom 4, Bathroom 7, Bathroom 3, Bathroom 5, Bedroom 3, Bathroom 8, Bedroom 2
Appliances
Cooktop, Dishwasher, Microwave, Oven, Refrigerator, Washer/Dryer
Subdivision
Not in a Subdivision
Elementary school
Durham - Eastway Elementary
Middle school
Durham - Lucas Middle School
High school
Durham - Northern High
Standard status
Active
APN
113508
Size
3,881 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Eastern Heights/Blk:19/Lt #01-02-03-04-05 Pt&Pt St Pl:00005A-000093
Tax Annual Amount
8282
Legal Description
Eastern Heights/Blk:19/Lt #01-02-03-04-05 Pt&Pt St Pl:00005A-000093
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2021
Floors in Building
2
Roof type
Shingle
Architectural style
Modern
Listing Agency:
West & Woodall Real Estate - D
(919) 382-2000
Listed By:
Tung Vu
(865) 924-0689
Added: Apr 18
Changed: Sep 13
Last Checked: Sep 24 at 8:06AM
MLS# 10164683
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.
Completed in 2021, this modern triplex contains 3,881 square feet on a 0.17-acre lot and is currently fully leased. The three residences include two 3-bedroom, 2.5-bath units measuring 1,554 and 1,524 square feet, plus an 803-square-foot unit with 2 bedrooms and 1.5 bathrooms. One of the larger residences places its primary bedroom on the main floor.
Each unit is equipped with a cooktop, oven, refrigerator, dishwasher, microwave, and washer/dryer. Central heating and central air conditioning serve the property, with public water and public sewer. The property carries R-3 zoning and features a shingle roof.
Each unit is equipped with a cooktop, oven, refrigerator, dishwasher, microwave, and washer/dryer. Central heating and central air conditioning serve the property, with public water and public sewer. The property carries R-3 zoning and features a shingle roof.
Key Highlights
- 3,881‑square‑foot triplex completed in 2021
- 0.17‑acre lot with R‑3 zoning
- Unit A: 1,554 sqft, 3 bedrooms, and 2.5 bathrooms
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
$33,325
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
3.84%
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%
$666,500
$666.5K
Cap Rate 7%
$476,071
$476.1K
Cap Rate 9%
$370,278
$370.3K
Market Conditions
NOI Build-Up for 3,881 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
$53.6K $13.80/SF
− Vacancy
−$6.0K −$1.53/SF
EGI
$47.6K $12.27/SF
− OpEx
−$14.3K −$3.68/SF
NOI
$33.3K $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%
$666,500
Cap Rate 7%
$476,071
Cap Rate 9%
$370,278
Alternative Uses
Best Use
Multifamily LT 5
$476.1K
$416.6K – $555.4K
NOI $33,325 @ 7.0% cap · market cap 3.84%
Second Best
Apartment 5plus
$416.8K
$364.7K – $486.3K
NOI $29,177 @ 7.0% cap · market cap 3.36%
Theoretical Best
Office A
$1.25M
$1.10M – $1.46M
NOI $87,725 @ 7.0% cap · market cap 10.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
652
Businesses Nearby
Explore this area
Business Placement
Demographics for 27703, NC
61,539
Population
27,122
Households
2.3
Avg Household Size
36
Median Age
45%
College-Educated
88%
High-School Grad
49.1 sq mi
ZIP Area
1,253
Density / Sq Mi
$86,953
Median Household Income
$51,462
Median Earnings
$1,469
Median Rent
$340,500
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?
Triplex - Modern three-unit property with renewed leases, central HVAC, and public water and sewer service.
Where is this triplex located?
The property is located at 1505 Juniper Street Durham, NC.
What is the asking price?
The asking price for this property is $867,999.
What are key features of this property?
This property features: 3,881‑square‑foot triplex completed in 2021; 0.17‑acre lot with R‑3 zoning; Unit A: 1,554 sqft, 3 bedrooms, and 2.5 bathrooms
