New
For Sale
$269,000
616 W Markham Avenue, Durham, NC 27701
Two vacant residences provide flexibility for renovation or owner occupancy alongside rental use.
Property Size1,216 SF
Price / SF$221.22
Days on Market4
Property Features for 616 W Markham Avenue
General Information
Standard status
Active
Size
1,216 SF
Property subtype
Residential Income
Property Condition
Severity
Repairs Needed
Evidence
renovate
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,273
Listing Agency:
Frasher Whaley Realty Group
(919) 794-3233
Listed By:
John Whaley · License #262351
(919) 475-3891
Source:
Exprealty
Added: Oct 6
Changed: Oct 7
Last Checked: Oct 7 at 2:05PM
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.
This duplex contains two vacant units within 1,216 square feet. The existing vacancy leaves both residences available for a new owner’s plans, including renovation or occupancy of one unit while renting the other.
The property is in Durham’s Duke Park neighborhood, within five blocks of Duke East Campus and less than a mile from downtown Durham’s restaurants, shopping, and entertainment.
The property is in Durham’s Duke Park neighborhood, within five blocks of Duke East Campus and less than a mile from downtown Durham’s restaurants, shopping, and entertainment.
Key Highlights
- Two vacant units in a 1,216‑square‑foot duplex
- Within five blocks of Duke East Campus
- Less than a mile from downtown Durham restaurants, entertainment, and shopping
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,442
Cap Rate
3.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$208,840
$208.8K
Cap Rate 7%
$149,171
$149.2K
Cap Rate 9%
$116,022
$116.0K
Market Conditions
NOI Build-Up for 1,216 SF
Gross rent
$16.8K $13.80/SF
− Vacancy
−$1.9K −$1.53/SF
EGI
$14.9K $12.27/SF
− OpEx
−$4.5K −$3.68/SF
NOI
$10.4K $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%
$208,840
Cap Rate 7%
$149,171
Cap Rate 9%
$116,022
Alternative Uses
Best Use
Multifamily LT 5
$149.2K
$130.5K – $174.0K
NOI $10,442 @ 7.0% cap · market cap 3.88%
Second Best
Apartment 5plus
$130.6K
$114.3K – $152.4K
NOI $9,142 @ 7.0% cap · market cap 3.40%
Theoretical Best
Office A
$392.7K
$343.6K – $458.1K
NOI $27,486 @ 7.0% cap · market cap 10.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
510
Businesses Nearby
Explore this area
Business Placement
Demographics for 27701, NC
25,208
Population
13,409
Households
1.9
Avg Household Size
34
Median Age
50%
College-Educated
85%
High-School Grad
5.2 sq mi
ZIP Area
4,848
Density / Sq Mi
$66,852
Median Household Income
$47,681
Median Earnings
$1,279
Median Rent
$457,600
Median Home Value
Check the figures for this property
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 vacant residences provide flexibility for renovation or owner occupancy alongside rental use.
Where is this duplex located?
The property is located at 616 W Markham Avenue Durham, NC.
What is the asking price?
The asking price for this property is $269,000.
What are key features of this property?
This property features: Two vacant units in a 1,216‑square‑foot duplex; Within five blocks of Duke East Campus; Less than a mile from downtown Durham restaurants, entertainment, and shopping
