Leased Duplex with Fenced
For Sale
$336,000
2504 Shenandoah Ave, Durham, NC 27704
Two-unit property with central HVAC, in-unit laundry, and a fenced outdoor area near parks and major Durham destinations.
Property Size1,192 SF
Price / SF$281.88
Days on Market91
Property Features for 2504 Shenandoah Ave
General Information
Standard status
Active
Size
1,192 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
2
Amenities
washer/dryers
fenced-in back yard
Building Details
Year Built
1947
Buildings
1
Listing Agency:
Frasher Whaley Realty Group
Listed By:
John Whaley · License #262351
(919) 475-3891
Source:
Rubyhenderson
Added: Jul 17
Changed: Oct 3
Last Checked: Oct 7 at 3:03PM
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
Investment Insights
Based on property information with market context.
This duplex, constructed in 1947, contains two leased units with hardwood flooring, decorative moldings, and built-in features. Each unit uses electric service and includes central HVAC and a washer and dryer. The property also provides a sizable fenced backyard for outdoor use.
Both units are leased through 2027. The property is located in Northgate Park near parks, with access to Duke, Downtown Durham, and I-85. The listed property size is 1,192.
Both units are leased through 2027. The property is located in Northgate Park near parks, with access to Duke, Downtown Durham, and I-85. The listed property size is 1,192.
Key Highlights
- Both units leased through 2027
- Two‑unit duplex built in 1947
- Central HVAC and washer/dryer in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,235
Cap Rate
3.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$204,700
$204.7K
Cap Rate 7%
$146,214
$146.2K
Cap Rate 9%
$113,722
$113.7K
Market Conditions
NOI Build-Up for 1,192 SF
Gross rent
$16.4K $13.80/SF
− Vacancy
−$1.8K −$1.53/SF
EGI
$14.6K $12.27/SF
− OpEx
−$4.4K −$3.68/SF
NOI
$10.2K $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%
$204,700
Cap Rate 7%
$146,214
Cap Rate 9%
$113,722
Alternative Uses
Best Use
Multifamily LT 5
$146.2K
$127.9K – $170.6K
NOI $10,235 @ 7.0% cap · market cap 3.05%
Second Best
Apartment 5plus
$128.0K
$112.0K – $149.4K
NOI $8,961 @ 7.0% cap · market cap 2.67%
Theoretical Best
Office A
$384.9K
$336.8K – $449.1K
NOI $26,944 @ 7.0% cap · market cap 8.02%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
336
Businesses Nearby
Explore this area
Business Placement
Demographics for 27704, NC
39,532
Population
16,824
Households
2.3
Avg Household Size
36
Median Age
33%
College-Educated
85%
High-School Grad
41.4 sq mi
ZIP Area
955
Density / Sq Mi
$62,435
Median Household Income
$36,955
Median Earnings
$1,306
Median Rent
$270,000
Median Home Value
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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-unit property with central HVAC, in-unit laundry, and a fenced outdoor area near parks and major Durham destinations.
Where is this duplex located?
The property is located at 2504 Shenandoah Ave Durham, NC.
What is the asking price?
The asking price for this property is $336,000.
What are key features of this property?
This property features: Both units leased through 2027; Two‑unit duplex built in 1947; Central HVAC and washer/dryer in each unit
