Updated Downtown
For Sale
$345,000
213 Hargrove St, Durham, NC 27701
Two residential units include one vacant unit and one occupied unit with refreshed interiors.
Property Size1,235 SF
Price / SF$279.35
Days on Market88
Property Features for 213 Hargrove St
General Information
Standard status
Active
Size
1,235 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 1BR/1BA (560 SF), 1 x 1BR/1BA (675 SF)
Multifamily Units
2
Building Details
Year Built
1938
Buildings
1
Listing Agency:
Deaton Investment Real Estate
Listed By:
Thomas Furlow · License #222598
(919) 412-3913
Source:
Bonniestrowd
Added: Jul 20
Changed: Oct 3
Last Checked: Oct 7 at 2:13PM
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 Deaton Investment Real Estate
Investment Insights
Based on property information with market context.
Built in 1938, this duplex at 213 Hargrove St includes two one-bedroom, one-bath residences measuring approximately 560 SF and 675 SF. Both interiors have been refreshed with LVP flooring, new countertops, stainless steel appliances, and updated fixtures. One residence is vacant, while the other is occupied on a month-to-month arrangement. The owner pays for water.
The property is across from Bay-Hargrove Park and provides walkable access to Downtown Durham dining, retail, and employment centers. Its two-unit layout supports continued rental use or an owner-occupant arrangement with a separate residence on site.
The property is across from Bay-Hargrove Park and provides walkable access to Downtown Durham dining, retail, and employment centers. Its two-unit layout supports continued rental use or an owner-occupant arrangement with a separate residence on site.
Key Highlights
- Two‑unit duplex at 213 Hargrove St, Durham, NC 27701
- One‑bedroom, one‑bath units measuring approximately 560 SF and 675 SF
- Both units feature LVP flooring, new countertops, stainless steel appliances, and updated fixtures
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,605
Cap Rate
3.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$212,100
$212.1K
Cap Rate 7%
$151,500
$151.5K
Cap Rate 9%
$117,833
$117.8K
Market Conditions
NOI Build-Up for 1,235 SF
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 Rate 5%
$212,100
Cap Rate 7%
$151,500
Cap Rate 9%
$117,833
Alternative Uses
Best Use
Multifamily LT 5
$151.5K
$132.6K – $176.8K
NOI $10,605 @ 7.0% cap · market cap 3.07%
Second Best
Apartment 5plus
$132.6K
$116.1K – $154.8K
NOI $9,285 @ 7.0% cap · market cap 2.69%
Theoretical Best
Office A
$398.8K
$349.0K – $465.3K
NOI $27,916 @ 7.0% cap · market cap 8.09%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,139
Businesses Nearby
Explore this area
Business Placement
Demographics for 27701, NC
25,208
Population
13,409
Households
1.9
Avg Household Size
34
Median Age
50%
College-Educated
85%
High-School Grad
5.2 sq mi
ZIP Area
4,848
Density / Sq Mi
$66,852
Median Household Income
$47,681
Median Earnings
$1,279
Median Rent
$457,600
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 - Two residential units include one vacant unit and one occupied unit with refreshed interiors.
Where is this duplex located?
The property is located at 213 Hargrove St Durham, NC.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: Two‑unit duplex at 213 Hargrove St, Durham, NC 27701; One‑bedroom, one‑bath units measuring approximately 560 SF and 675 SF; Both units feature LVP flooring, new countertops, stainless steel appliances, and updated fixtures
