Duplex with Two One-Bedroom
For Sale
$314,900
1507 Gunter St, Durham, NC 27707
Two residential units offer matching one-bedroom, one-bath layouts with granite counters and stainless steel appliances.
Property Size1,230 SF
Price / SF$256.02
Days on Market30
Property Features for 1507 Gunter St
General Information
Standard status
Active
Size
1,230 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
1930
Listing Agency:
Northside Realty Inc.
(407) 252-8240
Listed By:
Stephanie Anson · License #270558
Source:
Tcrnc
Added: Aug 1
Changed: Aug 28
Last Checked: Aug 29 at 12:32PM
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 Northside Realty Inc.
Investment Insights
Based on property information with market context.
Located at 1507 Gunter St in Durham, this duplex contains two separate residential units, each arranged with one bedroom and one bathroom. Both sides include granite countertops and stainless steel appliances, providing consistent finishes across the property. The building was constructed in 1930.
The property is positioned minutes from downtown Durham, NCCU, Duke, RTP, and major highways. Its setting also provides access to shopping, dining, and entertainment in the surrounding Durham area.
The property is positioned minutes from downtown Durham, NCCU, Duke, RTP, and major highways. Its setting also provides access to shopping, dining, and entertainment in the surrounding Durham area.
Key Highlights
- Two‑unit duplex with one bedroom and one bathroom on each side
- Granite countertops in both residential units
- Stainless steel appliances included in each side
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
$10,562
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
3.35%
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%
$211,240
$211.2K
Cap Rate 7%
$150,886
$150.9K
Cap Rate 9%
$117,356
$117.4K
Market Conditions
NOI Build-Up for 1,230 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
$17.0K $13.80/SF
− Vacancy
−$1.9K −$1.53/SF
EGI
$15.1K $12.27/SF
− OpEx
−$4.5K −$3.68/SF
NOI
$10.6K $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 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%
$211,240
Cap Rate 7%
$150,886
Cap Rate 9%
$117,356
Alternative Uses
Best Use
Multifamily LT 5
$150.9K
$132.0K – $176.0K
NOI $10,562 @ 7.0% cap · market cap 3.35%
Second Best
Apartment 5plus
$132.1K
$115.6K – $154.1K
NOI $9,247 @ 7.0% cap · market cap 2.94%
Theoretical Best
Office A
$397.2K
$347.5K – $463.4K
NOI $27,803 @ 7.0% cap · market cap 8.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
477
Businesses Nearby
Explore this area
Business Placement
Demographics for 27707, NC
49,787
Population
23,528
Households
2.1
Avg Household Size
34
Median Age
57%
College-Educated
92%
High-School Grad
20.7 sq mi
ZIP Area
2,405
Density / Sq Mi
$72,432
Median Household Income
$45,803
Median Earnings
$1,364
Median Rent
$371,500
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 - Two residential units offer matching one-bedroom, one-bath layouts with granite counters and stainless steel appliances.
Where is this duplex located?
The property is located at 1507 Gunter St Durham, NC.
What is the asking price?
The asking price for this property is $314,900.
What are key features of this property?
This property features: Two‑unit duplex with one bedroom and one bathroom on each side; Granite countertops in both residential units; Stainless steel appliances included in each side
