Tenant-Occupied
For Sale
$325,000
314 Price Ave, Durham, NC 27707
Two-unit home positioned near NCCU, Duke, and Downtown Durham.
Property Size1,402 SF
Price / SF$231.81
Days on Market17
Property Features for 314 Price Ave
General Information
Standard status
Active
Size
1,402 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$3,024
Listing Agency:
Northside Realty Inc.
(919) 335-3048
Listed By:
Stephanie Anson · License #3086504
(919) 335-3048
Source:
Exprealty
Added: Jul 24
Changed: Aug 8
Last Checked: Aug 9 at 11:24AM
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 Northside Realty Inc.
Investment Insights
Based on property information with market context.
This 1,402-square-foot duplex is currently tenant occupied and offers a two-unit residential configuration. The property is located near North Carolina Central University, Duke University, and Downtown Durham, placing it within reach of established academic and civic destinations.
The home may suit buyers seeking an occupied duplex property, subject to access and showing requirements. Prior notice is required for showings, and occupants should not be disturbed.
The home may suit buyers seeking an occupied duplex property, subject to access and showing requirements. Prior notice is required for showings, and occupants should not be disturbed.
Key Highlights
- 1,402‑square‑foot duplex
- Currently tenant occupied
- Near North Carolina Central University, Duke University, and Downtown Durham
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
$12,039
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
3.70%
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%
$240,780
$240.8K
Cap Rate 7%
$171,986
$172.0K
Cap Rate 9%
$133,767
$133.8K
Market Conditions
NOI Build-Up for 1,402 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
$19.3K $13.80/SF
− Vacancy
−$2.1K −$1.53/SF
EGI
$17.2K $12.27/SF
− OpEx
−$5.2K −$3.68/SF
NOI
$12.0K $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%
$240,780
Cap Rate 7%
$171,986
Cap Rate 9%
$133,767
Alternative Uses
Best Use
Multifamily LT 5
$172.0K
$150.5K – $200.7K
NOI $12,039 @ 7.0% cap · market cap 3.70%
Second Best
Apartment 5plus
$150.6K
$131.8K – $175.7K
NOI $10,540 @ 7.0% cap · market cap 3.24%
Theoretical Best
Office A
$452.7K
$396.1K – $528.2K
NOI $31,690 @ 7.0% cap · market cap 9.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit home positioned near NCCU, Duke, and Downtown Durham.
Where is this duplex located?
The property is located at 314 Price Ave Durham, NC.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 1,402‑square‑foot duplex; Currently tenant occupied; Near North Carolina Central University, Duke University, and Downtown Durham
