Duplex with Finished
New
For Sale
$390,000
1605 Fayetteville Street, Durham, NC 27707
Residential Income, Durham, NC
Property Size1,927 SF
Lot Size0.17 Acres
Price / SF$202.39
Days on Market1
Property Features for 1605 Fayetteville Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-5
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 2, Bathroom 1, Bathroom 2, Basement, Dining Room
Parking features
Driveway, On Street
Window features
Double Pane Windows
Patio and Porch features
Porch
Interior features
Bathtub/Shower Combination, Breakfast Bar, Ceiling Fan(s), Eat-in Kitchen, Living/Dining Room Combination, Pantry, Quartz Counters, Smooth Ceilings
Exterior features
Fenced Yard, Private Entrance, Private Yard, Rain Gutters
Fencing
Fenced
Basement
Finished, Walk-Out Access, Exterior Entry, Interior Entry, Crawl Space
Appliances
Dishwasher, Electric Oven, Electric Range, Refrigerator, Stainless Steel Appliance(s), Washer/Dryer, Water Heater
Subdivision
Stokesdale
Lot features
Back Yard, Front Yard, Hardwood Trees, Landscaped
Elementary school
Durham - Fayetteville Street Elementary
Middle school
Durham - James E Shepard Magnet Middle School
High school
Durham - Hillside High
Standard status
Active
APN
117354
Size
1,927 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
Stokesdale/Blk:A/Lt#03 Fayetteville St/Hd Pl:00005A-000044
Tax Annual Amount
2655
Legal Description
Stokesdale/Blk:A/Lt#03 Fayetteville St/Hd Pl:00005A-000044
Utilities
Sewer type
Public Sewer
Heating system
Central, Natural Gas, Forced Air
Cooling system
Central Air, Electric
Water source
Public
Amenities
fenced yard
finished basement
Building Details
Year built
1936
Floors in Building
1
Number of units
2
Flooring type
Vinyl
Building materials
Brick
Roof type
Shingle
Listing Agency:
Century 21 Triangle Group · Century 21 Real Estate
(919) 720-4217
Listed By:
Jennifer Justafort
(910) 899-6134
Added: Oct 1
Last Checked: Oct 1 at 2:06PM
MLS# 10195838
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.
Built in 1936, this brick duplex contains two residences, each with one bedroom and one bathroom. Both have access to finished basement space. The 1,927-square-foot building sits on a 0.17-acre lot and includes a fenced yard, porch, and driveway. Interior features include eat-in kitchens, quartz counters, and vinyl flooring. Appliances include a washer and dryer, refrigerator, dishwasher, and electric range. Updated building systems include permitted HVAC, plumbing, and electrical work.
The property is within the Fayetteville Street Local Historic District and is identified as a contributing property. North Carolina Central University is two blocks away. The site is zoned R-5 and served by public water and sewer.
The property is within the Fayetteville Street Local Historic District and is identified as a contributing property. North Carolina Central University is two blocks away. The site is zoned R-5 and served by public water and sewer.
Key Highlights
- Two‑unit brick duplex with 1,927 square feet of building area
- Each residence has 1 bedroom, 1 bathroom, and access to finished basement space
- 0.17‑acre lot with a fenced yard, porch, and driveway
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
$16,547
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
4.24%
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%
$330,940
$330.9K
Cap Rate 7%
$236,386
$236.4K
Cap Rate 9%
$183,856
$183.9K
Market Conditions
NOI Build-Up for 1,927 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
$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 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%
$330,940
Cap Rate 7%
$236,386
Cap Rate 9%
$183,856
Alternative Uses
Best Use
Multifamily LT 5
$236.4K
$206.8K – $275.8K
NOI $16,547 @ 7.0% cap · market cap 4.24%
Second Best
Apartment 5plus
$207.0K
$181.1K – $241.5K
NOI $14,487 @ 7.0% cap · market cap 3.71%
Theoretical Best
Office A
$622.2K
$544.5K – $726.0K
NOI $43,557 @ 7.0% cap · market cap 11.17%
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
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
Check the figures for this property
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 - Both residences have one-bedroom, one-bath layouts and access to finished basement space.
Where is this duplex located?
The property is located at 1605 Fayetteville Street 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‑unit brick duplex with 1,927 square feet of building area; Each residence has 1 bedroom, 1 bathroom, and access to finished basement space; 0.17‑acre lot with a fenced yard, porch, and driveway
