Duplex with R-5
314 Price Avenue, Durham, NC 27707
For Sale
$320,000
Two-unit residential property offers rental income potential and is currently occupied by tenants.
Property Size1,402 SF
Price / SF$228.25
Days on Market109
Property Features for 314 Price Avenue
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Neighborhood
Additional Details
Multifamily Units
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Stories
Listing Agency:
Northside Realty Inc.
(919) 784-0101
Listed By:
Stephanie Anson · License #270558
(919) 335-3048
Source:
Breezerealtynetwork
Added: Jul 24
Changed: Nov 4
Last Checked: Nov 8 at 3:31AM
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.
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Investment Insights
Based on property information with market context.
This 1,402-square-foot duplex was built in 1935 and is zoned R-5. The property is tenant occupied; showings require advance notice, and visitors should not disturb residents.
Durham UDO provides for the possibility of adding an ADU at the rear. The property is near NCCU, Duke and Downtown Durham.
Durham UDO provides for the possibility of adding an ADU at the rear. The property is near NCCU, Duke and Downtown Durham.
Key Highlights
- 1,402‑square‑foot duplex
- R‑5 zoning
- Built in 1935
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,039
Cap Rate
3.76%
Suggested Prices Based on Cap Rates
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
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 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 3.76%
Second Best
Apartment 5plus
$150.6K
$131.8K – $175.7K
NOI $10,540 @ 7.0% cap · market cap 3.29%
Theoretical Best
Office A
$452.7K
$396.1K – $528.2K
NOI $31,690 @ 7.0% cap · market cap 9.90%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
674
Businesses Nearby
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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
$371,500
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Durham, NC
Properties on Market for Duplexes in Durham
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property offers rental income potential and is currently occupied by tenants.
Where is this duplex located?
The property is located at 314 Price Avenue Durham, NC.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: 1,402‑square‑foot duplex; R‑5 zoning; Built in 1935
