New Construction Duplex with Separate
For Sale
$795,000
412/408 Sparella Street, Durham, NC 27703
Residential Income, Durham, NC
Property Size3,944 SF
Lot Size0.24 Acres
Price / SF$201.57
Days on Market180
Property Features for 412/408 Sparella Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
6
Bathrooms
5
Full bathrooms
6
Half bathrooms
2
Rooms
Bathroom 6, Bathroom 1, Bedroom 1, Bathroom 5, Bedroom 3, Bedroom 2, Bathroom 2, Bathroom 4, Bedroom 4, Bathroom 3, Bedroom 6, Bedroom 5
Parking features
Off Street
Window features
ENERGY STAR Qualified WIndows
Patio and Porch features
Deck
Interior features
Bathtub/Shower Combination, Dual Closets, Kitchen Island, Pantry, Quartz Counters, Separate Shower, Walk-In Closet(s), Walk-In Shower, Wired for Data
Appliances
Dishwasher, Electric Range, Microwave, Plumbed For Ice Maker
Subdivision
Not in a Subdivision
Lot features
Cul-De-Sac
Elementary school
Durham - Bethesda Elementary
Middle school
Durham - Lowes Grove Middle
High school
Durham - Hillside High
Standard status
Active
APN
0840092119/0840092232
Size
3,944 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Heat Pump (Heating), Radiant, Ceiling, Radiant Ceiling, Electric (Heating)
Cooling system
Central Air, Multi Units
Water source
Public
Building Details
Year built
2026
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Tile - Ceramic, Carpet
Building materials
Board & Batten Siding, Fiber Cement, HardiPlank Type, Radiant Barrier
Roof type
Shingle
Listing Agency:
Frasher Whaley Realty Group
(919) 794-3233
Listed By:
Steve Frasher · License #273120
(919) 201-8396
Added: Apr 9
Changed: Sep 16
Last Checked: Oct 5 at 7:06PM
MLS# 10158844
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 attached duplex is under construction with two independent three-bedroom residences totaling 3,944 square feet. The homes occupy separate individual lots, with ownership divided along the shared double-wall line. Each residence includes an open first floor with two living areas and a flexible office or playroom, along with a kitchen island, quartz counters, pantry, and direct access to a rear deck.
The second floors provide primary suites with dual vanities, tiled walk-in showers, and two walk-in closets, plus two additional bedrooms and a dedicated laundry room with storage and workspace. Hardwood, carpet, and ceramic tile flooring are specified, along with central air, heat pumps, public water, and public sewer. Off-street parking and no HOA are also included.
The property is located at 412/408 Sparella Street in Durham, near a city park described as one block away. Downtown Durham, American Tobacco Campus, Research Triangle Park, Raleigh, RDU Airport, and a new Publix are identified as nearby destinations.
The second floors provide primary suites with dual vanities, tiled walk-in showers, and two walk-in closets, plus two additional bedrooms and a dedicated laundry room with storage and workspace. Hardwood, carpet, and ceramic tile flooring are specified, along with central air, heat pumps, public water, and public sewer. Off-street parking and no HOA are also included.
The property is located at 412/408 Sparella Street in Durham, near a city park described as one block away. Downtown Durham, American Tobacco Campus, Research Triangle Park, Raleigh, RDU Airport, and a new Publix are identified as nearby destinations.
Key Highlights
- Two attached 3‑bedroom residences totaling 3,944 square feet
- Separate individual lots with independent ownership divided along the shared wall
- 0.24‑acre site with public water and public sewer
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,866
Cap Rate
4.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$677,320
$677.3K
Cap Rate 7%
$483,800
$483.8K
Cap Rate 9%
$376,289
$376.3K
Market Conditions
NOI Build-Up for 3,944 SF
Gross rent
$54.4K $13.80/SF
− Vacancy
−$6.0K −$1.53/SF
EGI
$48.4K $12.27/SF
− OpEx
−$14.5K −$3.68/SF
NOI
$33.9K $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%
$677,320
Cap Rate 7%
$483,800
Cap Rate 9%
$376,289
Alternative Uses
Best Use
Multifamily LT 5
$483.8K
$423.3K – $564.4K
NOI $33,866 @ 7.0% cap · market cap 4.26%
Second Best
Apartment 5plus
$423.6K
$370.6K – $494.2K
NOI $29,650 @ 7.0% cap · market cap 3.73%
Theoretical Best
Office A
$1.27M
$1.11M – $1.49M
NOI $89,149 @ 7.0% cap · market cap 11.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
189
Businesses Nearby
Explore this area
Business Placement
Demographics for 27703, NC
61,539
Population
27,122
Households
2.3
Avg Household Size
36
Median Age
45%
College-Educated
88%
High-School Grad
49.1 sq mi
ZIP Area
1,253
Density / Sq Mi
$86,953
Median Household Income
$51,462
Median Earnings
$1,469
Median Rent
$340,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two attached residences offer open living areas, office or playroom space, decks, and modern kitchens.
Where is this duplex located?
The property is located at 412/408 Sparella Street Durham, NC.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Two attached 3‑bedroom residences totaling 3,944 square feet; Separate individual lots with independent ownership divided along the shared wall; 0.24‑acre site with public water and public sewer
