Building Details

Year Built 1949

Listing Agency: Stanley Real Estate Services

Listed By: Rob Stanley Show Phone

Source: Searchhomesinnorthcarolina

Added: Aug 5 Changed: Oct 6 Last Checked: Oct 14 at 11:41PM

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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 Stanley Real Estate Services

Investment Insights

Based on property information with market context.

This duplex in Mebane, North Carolina, contains two residential units, each arranged with two bedrooms and one bathroom. Recent work includes HVAC and furnace replacements, flooring updates, roof repairs, and improvements to the front porch. These upgrades address several key building components while supporting continued rental use.

The property is located at 406 N 5th Street. The seller prefers a portfolio transaction but will consider selling the duplex individually. Tenant privacy is requested during marketing and showing activity.

Key Highlights

• Two units, each with 2 bedrooms and 1 bathroom
• HVAC and furnace replacements completed
• Updated flooring in both units

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$14,650

Cap Rate

4.73%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$293,000 $293.0K

Cap Rate 7%

$209,286 $209.3K

Cap Rate 9%

$162,778 $162.8K

Market Conditions

NOI Build-Up for 1,622 SF

Gross rent

$22.4K $13.80/SF

− Vacancy

−$1.5K −$0.90/SF

EGI

$20.9K $12.90/SF

− OpEx

−$6.3K −$3.87/SF

NOI

$14.7K $9.03/SF

Area

Alamance County, NC

Vacancy

6.50%

Lease Rate

$13.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$293,000

Cap Rate 7%

$209,286

Cap Rate 9%

$162,778

Alternative Uses

Best Use

Multifamily LT 5

$209.3K

$183.1K – $244.2K (±1% cap)

NOI $14,650 @ 7.0% cap · market cap 4.73%

Second Best

Apartment 5plus

$184.0K

$161.0K – $214.7K (±1% cap)

NOI $12,880 @ 7.0% cap · market cap 4.15%

Theoretical Best

Office A

$534.8K

$467.9K – $623.9K (±1% cap)

NOI $37,434 @ 7.0% cap · market cap 12.08%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Dental Office Auto Parts Store Law Firm Bakery Big Box & Wholesale Store Plumbing Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

500

Businesses Nearby

Explore this area Business Placement

Demographics for 27302, NC

33,237

Population

14,997

Households

2.2

Avg Household Size

40

Median Age

34%

College-Educated

90%

High-School Grad

114.7 sq mi

ZIP Area

290

Density / Sq Mi

$81,875

Median Household Income

$45,502

Median Earnings

$1,130

Median Rent

$275,400

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Income-producing residential property with matching two-bedroom, one-bathroom units and recent improvements to major building components.

Where is this duplex located?

The property is located at 406 N 408 5th St Mebane, NC.

What is the asking price?

The asking price for this property is $310,000.

What are key features of this property?

This property features: Two units, each with 2 bedrooms and 1 bathroom; HVAC and furnace replacements completed; Updated flooring in both units