Duplex with In-Unit
For Sale
$365,000
2503 Englewood Avenue, Durham, NC 27705
Both residences have central HVAC, individual laundry equipment, and separate utility responsibility for occupants.
Property Size1,290 SF
Price / SF$282.95
Days on Market16
Property Features for 2503 Englewood Avenue
General Information
Standard status
Active
Size
1,290 SF
Property subtype
Residential Income
Occupancy
100%
Lease Term
12 Months
Site & Location
Neighborhood
Watts Hospital-Hillandale
Additional Details
Multifamily Units
2
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$4,683
Amenities
Ceiling Fan(s)
Bathtub/Shower Combination
Storage
Rain Gutters
Building Details
Building Size
1,290 SF
Year Built
1950
Stories
1
Listing Agency:
Frasher Whaley Realty Group
(919) 794-3233
Listed By:
John Whaley · License #262351
(919) 475-3891
Source:
Dwellraleigh
Added: Oct 15
Changed: Oct 30
Last Checked: Oct 29 at 6:49PM
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 Frasher Whaley Realty Group
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Investment Insights
Based on property information with market context.
This 1,290-square-foot duplex was built in 1950 and is currently fully leased. Each of its two units has central HVAC, a washer and dryer, hardwood flooring, built-in features, and decorative molding. Tenants pay their own utility costs. Both units received new gas packs in 2023, and Unit A had new windows installed in 2024.
The property is on Englewood Avenue in Durham’s Watts-Hillandale neighborhood. Duke University’s campuses are minutes away, while shops and restaurants along 9th Street and Broad Street are a few blocks from the property.
The property is on Englewood Avenue in Durham’s Watts-Hillandale neighborhood. Duke University’s campuses are minutes away, while shops and restaurants along 9th Street and Broad Street are a few blocks from the property.
Key Highlights
- Two‑unit duplex totaling 1,290 square feet; built in 1950
- Fully leased, with tenants responsible for utilities
- Each unit includes central HVAC and a washer and dryer
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,077
Cap Rate
3.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$221,540
$221.5K
Cap Rate 7%
$158,243
$158.2K
Cap Rate 9%
$123,078
$123.1K
Market Conditions
NOI Build-Up for 1,290 SF
Gross rent
$17.8K $13.80/SF
− Vacancy
−$2.0K −$1.53/SF
EGI
$15.8K $12.27/SF
− OpEx
−$4.7K −$3.68/SF
NOI
$11.1K $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%
$221,540
Cap Rate 7%
$158,243
Cap Rate 9%
$123,078
Alternative Uses
Best Use
Multifamily LT 5
$158.2K
$138.5K – $184.6K
NOI $11,077 @ 7.0% cap · market cap 3.03%
Second Best
Apartment 5plus
$138.5K
$121.2K – $161.6K
NOI $9,698 @ 7.0% cap · market cap 2.66%
Theoretical Best
Office A
$416.6K
$364.5K – $486.0K
NOI $29,159 @ 7.0% cap · market cap 7.99%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
3,048
Businesses Nearby
Explore this area
Business Placement
Demographics for 27705, NC
50,472
Population
24,108
Households
2.1
Avg Household Size
34
Median Age
62%
College-Educated
91%
High-School Grad
42.1 sq mi
ZIP Area
1,199
Density / Sq Mi
$71,153
Median Household Income
$43,138
Median Earnings
$1,422
Median Rent
$398,500
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 - Both residences have central HVAC, individual laundry equipment, and separate utility responsibility for occupants.
Where is this duplex located?
The property is located at 2503 Englewood Avenue Durham, NC.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,290 square feet; built in 1950; Fully leased, with tenants responsible for utilities; Each unit includes central HVAC and a washer and dryer
