Renovated Three-Duplex Multifamily
New
For Sale
$1,295,000
543-549 Cedar Lake Road Chapel Hill NC 27516, Chapel Hill, NC 27516
MULTI_FAMILY - Chapel Hill, NC
Property Size5,301 SF
Lot Size3.00 Acres
Price / SF$244.29
Days on Market7
Property Features for 543-549 Cedar Lake Road Chapel Hill NC 27516
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
12
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 6, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 12, Bedroom 10, Bedroom 8, Bedroom 4, Bedroom 7, Bedroom 11, Bedroom 5, Bedroom 9
Subdivision
Cedar Lake
Elementary school
Chatham - Chatham Grove Elementary
Middle school
Chatham - Margaret B Pollard Middle School
High school
Chatham - Northwood High
Standard status
Active
Lot size
3.00 Acres
Amenities
covered front porch
private rear patio
washer/dryer
exterior storage
Building Details
Year built
1978
Listing Agency:
Chapel Hill
(919) 942-4822
Listed By:
Chad Lloyd · License #243094
(919) 606-8511
Added: Aug 5
Changed: Aug 10
Last Checked: Aug 11 at 9:06PM
MLS# 10184491
Copyright © 2026 Long & Foster Real Estate. 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 multifamily property comprises three single-story brick duplexes on approximately 3 acres, with six residential units totaling 5,301 heated square feet. Each residence includes two bedrooms, one full bathroom, a living room, eat-in kitchen, storage closets, laundry closet, covered front porch, private rear patio, and attached exterior storage or mechanical space. Washers and dryers convey with the sale on an as-is basis. Five units are leased, while one is being kept vacant for showings and immediate leasing. Renovations completed during 2018–2019 included architectural shingle roofs and gutters, interior and exterior painting, flooring, appliances, fixtures, and countertops. No unit contains carpet; living areas and bedrooms use Luxury Vinyl Plank or wood laminate flooring.
The property is located at 543-549 Cedar Lake Road in Chapel Hill, approximately 4.5 miles from UNC-Chapel Hill and downtown Chapel Hill. Shopping and UNC park-and-ride facilities are less than one mile away, while Briar Chapel is approximately 3 miles distant. Each unit has separately metered electricity, and the property uses a private well and septic systems.
The property is located at 543-549 Cedar Lake Road in Chapel Hill, approximately 4.5 miles from UNC-Chapel Hill and downtown Chapel Hill. Shopping and UNC park-and-ride facilities are less than one mile away, while Briar Chapel is approximately 3 miles distant. Each unit has separately metered electricity, and the property uses a private well and septic systems.
Key Highlights
- Three single‑story brick duplexes with six total residential units
- Approximately 3 acres with 5,301 heated square feet across the property
- Five units leased; 1 unit held vacant for showings
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
$45,518
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
3.51%
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%
$910,360
$910.4K
Cap Rate 7%
$650,257
$650.3K
Cap Rate 9%
$505,756
$505.8K
Market Conditions
NOI Build-Up for 5,301 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
$73.2K $13.80/SF
− Vacancy
−$8.1K −$1.53/SF
EGI
$65.0K $12.27/SF
− OpEx
−$19.5K −$3.68/SF
NOI
$45.5K $8.59/SF
Area
Orange 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%
$910,360
Cap Rate 7%
$650,257
Cap Rate 9%
$505,756
Alternative Uses
Best Use
Multifamily LT 5
$650.3K
$569.0K – $758.6K
NOI $45,518 @ 7.0% cap · market cap 3.51%
Second Best
Apartment 5plus
$573.7K
$502.0K – $669.4K
NOI $40,161 @ 7.0% cap · market cap 3.10%
Theoretical Best
Office A
$1.71M
$1.50M – $2.00M
NOI $119,823 @ 7.0% cap · market cap 9.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2
Businesses Nearby
Explore this area
Business Placement
Demographics for 27516, NC
45,841
Population
18,684
Households
2.5
Avg Household Size
35
Median Age
72%
College-Educated
96%
High-School Grad
93.5 sq mi
ZIP Area
490
Density / Sq Mi
$100,788
Median Household Income
$48,638
Median Earnings
$1,446
Median Rent
$508,400
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 - Six residential units offer two-bedroom layouts, private outdoor areas, and washers and dryers included with the sale.
Where is this duplex located?
The property is located at 543-549 Cedar Lake Road Chapel Hill NC 27516 Chapel Hill, NC.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: Three single‑story brick duplexes with six total residential units; Approximately 3 acres with 5,301 heated square feet across the property; Five units leased; 1 unit held vacant for showings
