New Construction Modern
For Sale
$795,000
412408 412/408 Sparella St, Durham, NC 27703
Attached duplex with two independently owned residences, contemporary finishes, private decks, and no HOA.
Property Size3,944 SF
Price / SF$201.57
Days on Market88
Property Features for 412408 412/408 Sparella St
General Information
Standard status
Active
Size
3,944 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Building Details
Year Built
2026
Buildings
1
Construction
modern farmhouse
Listing Agency:
Frasher Whaley Realty Group
Listed By:
Steve Frasher · License #273120
(919) 794-3233
Source:
Tcrnc
Added: Jul 20
Changed: Oct 3
Last Checked: Oct 7 at 4:04PM
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 Frasher Whaley Realty Group
Investment Insights
Based on property information with market context.
Completed in 2026, this attached duplex contains two separate 3-bedroom residences divided by a double wall. Each side occupies its own lot, with independent ownership similar to a townhome arrangement, and the property may be acquired together or separately. Combined property size is 3,944 square feet.
Both residences feature an open first-floor plan with two living areas and a flexible office or playroom. Kitchens include oversized islands and connect directly to private rear decks. Upstairs, each home offers a primary suite with dual vanities, a tiled walk-in shower, and two walk-in closets, along with two additional bedrooms and a laundry room with storage and workspace.
The homes have never been occupied and include modern efficiency features, contemporary finishes, and no HOA. A city park with playgrounds, walking trails, and open green space is one block away. The property is near downtown Durham, American Tobacco Campus, Research Triangle Park, Raleigh, RDU Airport, and a new Publix.
Both residences feature an open first-floor plan with two living areas and a flexible office or playroom. Kitchens include oversized islands and connect directly to private rear decks. Upstairs, each home offers a primary suite with dual vanities, a tiled walk-in shower, and two walk-in closets, along with two additional bedrooms and a laundry room with storage and workspace.
The homes have never been occupied and include modern efficiency features, contemporary finishes, and no HOA. A city park with playgrounds, walking trails, and open green space is one block away. The property is near downtown Durham, American Tobacco Campus, Research Triangle Park, Raleigh, RDU Airport, and a new Publix.
Key Highlights
- Two attached 3‑bedroom residences with separate ownership and individual lots
- 3,944‑square‑foot combined property completed in 2026
- Open first floors with two living areas plus an office or playroom in each residence
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.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
179
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
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 - Attached duplex with two independently owned residences, contemporary finishes, private decks, and no HOA.
Where is this duplex located?
The property is located at 412408 412/408 Sparella St 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 with separate ownership and individual lots; 3,944‑square‑foot combined property completed in 2026; Open first floors with two living areas plus an office or playroom in each residence
