Quadplex with
For Sale
$199,000
511 Cameron Street, Burlington, NC 27215
Residential Income, Burlington, NC
Property Size2,255 SF
Lot Size0.19 Acres
Price / SF$88.25
Days on Market415
Property Features for 511 Cameron Street
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning
OI
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bathroom 2, Bedroom 5, Bathroom 1, Bedroom 3, Bedroom 1, Bedroom 2
Parking features
Driveway
Patio and Porch features
Porch
Interior features
Eat-in Kitchen
Subdivision
Not in a Subdivision
Lot features
Back Yard, City Lot, Cleared, Front Yard
Standard status
Active
APN
135972
Size
2,255 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
Cameron St 013-40-10
Tax Annual Amount
896
Legal Description
Cameron St 013-40-10
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1930
Floors in Building
1
Number of units
4
Building materials
Vinyl Siding
Roof type
Asphalt
Listing Agency:
Keller Williams Central · Keller Williams Realty
(336) 227-4433
Listed By:
Margaret McCann · License #60331
(336) 516-2001
Added: Jul 2, 2025
Changed: Aug 19
Last Checked: Aug 20 at 10:06PM
MLS# 10107058
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 quadplex at 511 Cameron Street is currently operating as a boarding house and includes five bedrooms and two bathrooms. The interior features an eat-in kitchen, and the home is served by forced-air heating with electric heat and central air conditioning. Construction includes vinyl siding and an asphalt roof, with public water and public sewer in place. Cable is available, and parking is available via a driveway.
The property includes a porch and permanent stairs to additional space that can support storage and possibly additional living area. The home is occupied, so tenants must not be disturbed; contact the listing agent to schedule a showing or request additional information.
Built in 1930 and situated on a 0.19-acre lot, this zoning-designated OI property offers a flexible layout within its existing configuration, with room count and common-area potential suited to multiple ways of use within the boarding setup.
The property includes a porch and permanent stairs to additional space that can support storage and possibly additional living area. The home is occupied, so tenants must not be disturbed; contact the listing agent to schedule a showing or request additional information.
Built in 1930 and situated on a 0.19-acre lot, this zoning-designated OI property offers a flexible layout within its existing configuration, with room count and common-area potential suited to multiple ways of use within the boarding setup.
Key Highlights
- Currently operating as a boarding house with 5 bedrooms and 2 bathrooms
- Permanent stairs to additional space for storage and possible living area
- 0.19‑acre lot with 2255 square feet
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
$17,907
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
9.00%
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%
$358,140
$358.1K
Cap Rate 7%
$255,814
$255.8K
Cap Rate 9%
$198,967
$199.0K
Market Conditions
NOI Build-Up for 2,255 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
$34.6K $15.36/SF
− Vacancy
−$2.1K −$0.92/SF
EGI
$32.6K $14.44/SF
− OpEx
−$14.7K −$6.50/SF
NOI
$17.9K $7.94/SF
Area
Alamance County, NC
Vacancy
6.00%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
45.00%
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%
$358,140
Cap Rate 7%
$255,814
Cap Rate 9%
$198,967
Alternative Uses
Best Use
Multifamily LT 5
$291.0K
$254.6K – $339.5K
NOI $20,367 @ 7.0% cap · market cap 10.23%
Second Best
Apartment 5plus
$255.8K
$223.8K – $298.5K
NOI $17,907 @ 7.0% cap · market cap 9.00%
Theoretical Best
Office A
$743.5K
$650.5K – $867.4K
NOI $52,043 @ 7.0% cap · market cap 26.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
975
Businesses Nearby
Explore this area
Business Placement
Demographics for 27215, NC
44,620
Population
21,854
Households
2
Avg Household Size
42
Median Age
37%
College-Educated
92%
High-School Grad
63.1 sq mi
ZIP Area
707
Density / Sq Mi
$66,669
Median Household Income
$45,267
Median Earnings
$1,112
Median Rent
$241,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Zoned OI quadplex with central air, forced-air electric heat, and an exterior porch.
Where is this quadplex located?
The property is located at 511 Cameron Street Burlington, NC.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: Currently operating as a boarding house with 5 bedrooms and 2 bathrooms; Permanent stairs to additional space for storage and possible living area; 0.19‑acre lot with 2255 square feet
