Chapel Hill Duplex Investment
For Sale
$750,000
255 Erwin Road, Chapel Hill, NC 27514
MULTI_FAMILY - Chapel Hill, NC
Property Size2,769 SF
Lot Size0.26 Acres
Price / SF$270.86
Days on Market368
Property Features for 255 Erwin Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
6
Full bathrooms
5
Half bathrooms
2
Rooms
Bathroom 1, Bathroom 5, Bedroom 1, Bedroom 4, Bathroom 6, Dining Room, Bedroom 6, Bathroom 4, Bedroom 3, Bathroom 2, Bathroom 7, Bedroom 2, Bedroom 5, Bathroom 3
Parking features
Driveway
Window features
Blinds, Insulated Windows
Patio and Porch features
Porch
Interior features
Bathtub/Shower Combination, Breakfast Bar, Ceiling Fan(s), Eat-in Kitchen, Kitchen/Dining Room Combination, Living/Dining Room Combination, Open Floorplan, Quartz Counters, Second Primary Bedroom, Smooth Ceilings, Stone Counters, Walk-In Closet(s), Walk-In Shower
Exterior features
Rain Gutters
Appliances
Dishwasher, Electric Range, Electric Water Heater, Microwave, Refrigerator, Stainless Steel Appliance(s), Washer/Dryer
Subdivision
Not in a Subdivision
Lot features
Corner Lot, Gentle Sloping, Irregular Lot, Near Public Transit
Elementary school
Chapel Hill Carrboro - Mel and Zora Rashkis Elemen
Middle school
Chapel Hill Carrboro - Guy B Phillips Middle Schoo
High school
Chapel Hill Carrboro - East Chapel Hill High Schoo
Standard status
Active
APN
9890-51-1404
Size
2,769 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
2 AMID ALVAND
Tax Annual Amount
7500
Legal Description
2 AMID ALVAND
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating), Electric (Heating)
Cooling system
Heat Pump, Ceiling Fan(s), Multi Units, Separate Meters, Central Air
Water source
Public
Building Details
Year built
2025
Floors in Building
2
Number of units
2
Flooring type
Tile - Ceramic, Vinyl, Wood
Building materials
Board & Batten Siding, HardiPlank Type
Roof type
Shingle
Listing Agency:
Grow Local Realty, LLC
(919) 830-5233
Listed By:
Kim Pendergrass · License #186199
(252) 432-5691
Added: Jul 28, 2025
Changed: Jul 28
Last Checked: Jul 30 at 6:06PM
MLS# 10130212
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.
This duplex, constructed in 2025, presents an investment opportunity in Chapel Hill. The property features a total of 6 bedrooms, 5 full bathrooms, and 2 half baths. The layout offers flexibility for multi-generational living, rental income, or owner-occupancy with supplemental income. One unit features 3 bedrooms and 3.5 bathrooms, designed with open floor plans, natural light, and a kitchen. The other unit is slightly smaller, with 3 bedrooms and 2.5 bathrooms. The larger unit includes a primary bedroom with an en-suite bathroom on the main level, and each bedroom has its own full bathroom. The property includes private outdoor space and ample parking. The location provides convenient access to shopping, dining, entertainment, and Bus line D. One side of the duplex has a fence. Situated on a 0.26-acre lot, the property encompasses 2769 square feet. It is located in Chapel Hill, North Carolina.
Key Highlights
- New 2025‑built duplex with 6 bedrooms and 5 full bathrooms plus 2 half baths total
- Two unit layouts: larger side A has 3 bedrooms with en‑suite primary on the main level and full baths for each bedroom
- Second unit on the duplex has 3 bedrooms and 2.5 bathrooms
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $38.2k | $13.80 |
| − Vacancy | −$4.2k | −$1.53 |
| EGI | $34.0k | $12.27 |
| − OpEx | −$10.2k | −$3.68 |
| NOI | $23.8k | $8.59 |
2,769 SF · lease $13.80/SF/yr · vacancy 11.11% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$339.7K
$297.2K – $396.3K
NOI $23,777 @ 7.0% cap · market cap 3.17%
Second Best
Apartment 5plus
$299.7K
$262.2K – $349.6K
NOI $20,978 @ 7.0% cap · market cap 2.80%
Theoretical Best
Office A
$894.1K
$782.4K – $1.04M
NOI $62,590 @ 7.0% cap · market cap 8.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
873
Businesses Nearby
Explore this area
Business Placement
Demographics for 27514, NC
33,809
Population
11,470
Households
2.9
Avg Household Size
27
Median Age
80%
College-Educated
98%
High-School Grad
19.6 sq mi
ZIP Area
1,725
Density / Sq Mi
$94,167
Median Household Income
$25,145
Median Earnings
$1,491
Median Rent
$628,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Spacious duplex built in 2025, ideal for investment.
Where is this duplex located?
The property is located at 255 Erwin Road Chapel Hill, NC.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: New 2025‑built duplex with 6 bedrooms and 5 full bathrooms plus 2 half baths total; Two unit layouts: larger side A has 3 bedrooms with en‑suite primary on the main level and full baths for each bedroom; Second unit on the duplex has 3 bedrooms and 2.5 bathrooms
