Well-Maintained Duplex
For Sale
$259,000
Pending
411 Raleigh Street, Siler City, NC 27344
Two-unit duplex with updated interiors, including a two-bedroom unit and a one-bedroom unit for rental or owner-occupancy.
Property Size1,877 SF
Days on Market231
Property Features for 411 Raleigh Street
General Information
Standard status
Pending
Size
1,877 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,443
Amenities
Central Air, Dual
3
Hardwood, Tile, Vinyl, Carpet, Wood
Dryer, Electric Range/Cooktop, Refrigerator, Washer, Washer/Dryer
Shingle
Vinyl, Wood
Fenced Yard.
3 Parking Spaces.
Vinyl
Public Roads.
Building Details
Year Built
1949
Stories
1
Listing Agency:
Harris Realty & Auction
(919) 742-3286
Listed By:
Scott Harris · License #159569
(919) 498-4077
Source:
Xome
Added: Dec 24, 2025
Changed: Aug 8
Last Checked: Aug 11 at 5:41AM
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 Harris Realty & Auction
Investment Insights
Based on property information with market context.
This well-maintained duplex offers two separate living units with interior updates. Unit #1 features two bedrooms, an updated kitchen, a living room and dining area, along with fresh interior paint and new flooring in the kitchen, bathroom, and bedrooms. Unit #2 includes one bedroom, a combined living/dining area, and a full kitchen.
Located at 411 W Raleigh Street in Siler City, the property is described as being within walking distance to shopping and local amenities. The public remarks also note proximity to major employers, including approximately 17 miles to the Toyota Battery Manufacturing Plant in Liberty, NC, and approximately 5 miles to the Wolfspeed Silicon Carbide Chip Plant.
The layout provides flexibility for an owner-occupant to live in one unit while renting the other, or for investors seeking a duplex with two income-producing residences.
Located at 411 W Raleigh Street in Siler City, the property is described as being within walking distance to shopping and local amenities. The public remarks also note proximity to major employers, including approximately 17 miles to the Toyota Battery Manufacturing Plant in Liberty, NC, and approximately 5 miles to the Wolfspeed Silicon Carbide Chip Plant.
The layout provides flexibility for an owner-occupant to live in one unit while renting the other, or for investors seeking a duplex with two income-producing residences.
Key Highlights
- Duplex built in 1949 with two units: a 2‑bedroom unit and a 1‑bedroom unit
- Unit #1 has an updated kitchen, living room, dining area, fresh interior paint, and new flooring in the kitchen, bathroom, and bedrooms
- Unit #2 offers 1 bedroom with a combined living/dining area and a full kitchen
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
$16,117
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
6.22%
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%
$322,340
$322.3K
Cap Rate 7%
$230,243
$230.2K
Cap Rate 9%
$179,078
$179.1K
Market Conditions
NOI Build-Up for 1,877 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
$25.9K $13.80/SF
− Vacancy
−$2.9K −$1.53/SF
EGI
$23.0K $12.27/SF
− OpEx
−$6.9K −$3.68/SF
NOI
$16.1K $8.59/SF
Area
Chatham County, 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%
$322,340
Cap Rate 7%
$230,243
Cap Rate 9%
$179,078
Alternative Uses
Best Use
Multifamily LT 5
$230.2K
$201.5K – $268.6K
NOI $16,117 @ 7.0% cap · market cap 6.22%
Second Best
Apartment 5plus
$203.1K
$177.8K – $237.0K
NOI $14,220 @ 7.0% cap · market cap 5.49%
Theoretical Best
Office A
$606.1K
$530.3K – $707.1K
NOI $42,427 @ 7.0% cap · market cap 16.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
533
Businesses Nearby
Explore this area
Business Placement
Demographics for 27344, NC
17,834
Population
8,086
Households
2.2
Avg Household Size
40
Median Age
22%
College-Educated
76%
High-School Grad
166.3 sq mi
ZIP Area
107
Density / Sq Mi
$62,493
Median Household Income
$32,823
Median Earnings
$1,072
Median Rent
$176,800
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 - Two-unit duplex with updated interiors, including a two-bedroom unit and a one-bedroom unit for rental or owner-occupancy.
Where is this duplex located?
The property is located at 411 Raleigh Street Siler City, NC.
What is the asking price?
The asking price for this property is $259,000.
What are key features of this property?
This property features: Duplex built in 1949 with two units: a 2‑bedroom unit and a 1‑bedroom unit; Unit #1 has an updated kitchen, living room, dining area, fresh interior paint, and new flooring in the kitchen, bathroom, and bedrooms; Unit #2 offers 1 bedroom with a combined living/dining area and a full kitchen
