Renovated
For Sale
$390,000
1605 Fayetteville St, Durham, NC 27707
Each residence offers one bedroom, one bathroom, and access to a finished basement.
Property Size1,926 SF
Price / SF$202.49
Days on Market9
Property Features for 1605 Fayetteville St
General Information
Standard status
Active
Size
1,926 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Amenities
fenced yard
finished basement
Building Details
Year Built
1936
Buildings
1
Listing Agency:
Century 21 Triangle Group
Listed By:
Jennifer Justafort
(910) 899-6134
Source:
Findnorthcarolinaproperties
Added: Sep 28
Changed: Oct 6
Last Checked: Oct 6 at 2:35AM
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 Century 21 Triangle Group
Investment Insights
Based on property information with market context.
This 1,926-square-foot duplex, built in 1936, contains two one-bedroom, one-bathroom residences. Both units connect to a finished basement and include appliances, including a washer and dryer. Improvements include new flooring, windows, countertops, lighting, and appliances, along with newly installed, permitted HVAC, plumbing, and electrical systems. The property also has a fenced yard.
The building is a contributing property in the Fayetteville Street Local Historic District, two blocks from NCCU.
The building is a contributing property in the Fayetteville Street Local Historic District, two blocks from NCCU.
Key Highlights
- Two units, each with one bedroom and one bathroom
- 1,926 square feet; built in 1936
- Both residences have access to a finished basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,538
Cap Rate
4.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$330,760
$330.8K
Cap Rate 7%
$236,257
$236.3K
Cap Rate 9%
$183,756
$183.8K
Market Conditions
NOI Build-Up for 1,926 SF
Gross rent
$26.6K $13.80/SF
− Vacancy
−$3.0K −$1.53/SF
EGI
$23.6K $12.27/SF
− OpEx
−$7.1K −$3.68/SF
NOI
$16.5K $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%
$330,760
Cap Rate 7%
$236,257
Cap Rate 9%
$183,756
Alternative Uses
Best Use
Multifamily LT 5
$236.3K
$206.7K – $275.6K
NOI $16,538 @ 7.0% cap · market cap 4.24%
Second Best
Apartment 5plus
$206.8K
$181.0K – $241.3K
NOI $14,479 @ 7.0% cap · market cap 3.71%
Theoretical Best
Office A
$621.9K
$544.2K – $725.6K
NOI $43,535 @ 7.0% cap · market cap 11.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
674
Businesses Nearby
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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
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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 - Each residence offers one bedroom, one bathroom, and access to a finished basement.
Where is this duplex located?
The property is located at 1605 Fayetteville St Durham, NC.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: Two units, each with one bedroom and one bathroom; 1,926 square feet; built in 1936; Both residences have access to a finished basement
