New Construction
For Sale
$1,270,000
1508 Boyer Street, Raleigh, NC 27610
Two recently built duplexes offer a mix of leased and furnished short-term rental units.
Property Size4,080 SF
Days on Market334
Property Features for 1508 Boyer Street
General Information
Standard status
Active
Size
4,080 SF
Property subtype
Duplex
Site & Location
Neighborhood
College Park
Public Transit
Yes
Additional Details
Asking Price
$2,540,000
Multifamily Units
4
Building Details
Building Size
4,080 SF
Year Built
2025
Buildings
2
Listing Agency:
Compass -- Cary
Listed By:
Annette Holt · License #231450
(919) 810-2203
Source:
Dustinbennett
Added: Dec 4, 2025
Changed: Oct 31
Last Checked: Nov 1 at 1:45PM
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 Compass -- Cary
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Investment Insights
Based on property information with market context.
The offering includes duplexes at 1508 and 1510 Boyer Street, with each building completed in 2025 and configured with two residential units. Across the properties, one unit in each duplex has a long-term lease, while the other is furnished and operating as a short-term rental through Airbnb. Furnishings may convey with the sale.
The properties are near Raleigh’s planned Bus Rapid Transit corridor and provide access to Downtown Raleigh. They may be acquired individually or together, supporting several ownership and rental approaches, including maintaining the existing combination of long-term and short-term occupancy or using one unit as a residence while renting the others.
The properties are near Raleigh’s planned Bus Rapid Transit corridor and provide access to Downtown Raleigh. They may be acquired individually or together, supporting several ownership and rental approaches, including maintaining the existing combination of long-term and short-term occupancy or using one unit as a residence while renting the others.
Key Highlights
- Two duplexes at 1508 and 1510 Boyer Street
- Built in 2025, with two units in each duplex
- One unit in each building has a long‑term lease
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,110
Cap Rate
3.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$942,200
$942.2K
Cap Rate 7%
$673,000
$673.0K
Cap Rate 9%
$523,444
$523.4K
Market Conditions
NOI Build-Up for 4,080 SF
Gross rent
$71.0K $17.40/SF
− Vacancy
−$3.7K −$0.90/SF
EGI
$67.3K $16.50/SF
− OpEx
−$20.2K −$4.95/SF
NOI
$47.1K $11.55/SF
Area
ZIP 27610
Vacancy
5.20%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$942,200
Cap Rate 7%
$673,000
Cap Rate 9%
$523,444
Alternative Uses
Best Use
Multifamily LT 5
$673.0K
$588.9K – $785.2K
NOI $47,110 @ 7.0% cap · market cap 3.71%
Second Best
Apartment 5plus
$604.3K
$528.7K – $705.0K
NOI $42,299 @ 7.0% cap · market cap 3.33%
Theoretical Best
Specialty Retail
$1.20M
$1.05M – $1.40M
NOI $83,722 @ 7.0% cap · market cap 6.59%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
545
Businesses Nearby
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Business Placement
Demographics for 27610, NC
75,164
Population
29,245
Households
2.6
Avg Household Size
34
Median Age
28%
College-Educated
86%
High-School Grad
45.2 sq mi
ZIP Area
1,663
Density / Sq Mi
$66,245
Median Household Income
$37,582
Median Earnings
$1,319
Median Rent
$260,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two recently built duplexes offer a mix of leased and furnished short-term rental units.
Where is this duplex located?
The property is located at 1508 Boyer Street Raleigh, NC.
What is the asking price?
The asking price for this property is $1,270,000.
What are key features of this property?
This property features: Two duplexes at 1508 and 1510 Boyer Street; Built in 2025, with two units in each duplex; One unit in each building has a long‑term lease
