Building Details

Building Size 2,694 SF

Year Built 2006

Listing Agency: EXP REALTY OF PIEDMONT NC LLC

Listed By: Amber Harvalias Show Phone

Source: Sherihagerty

Added: Oct 12 Changed: Oct 28 Last Checked: Oct 28 at 3:07PM

Report an Issue

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 EXP REALTY OF PIEDMONT NC LLC

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

Built in 2006, this duplex contains two residences, each with three bedrooms and three full bathrooms. The property is on a corner lot and is tenant occupied. Both units offer the same bedroom and bath configuration, for a combined total of six bedrooms and six full baths.

Elon University, shopping, dining, and major roadways are nearby.

Key Highlights

• Two residences, each with 3 bedrooms and 3 full baths
• Six bedrooms and six full baths in total
• Built in 2006

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$24,332

Cap Rate

4.63%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$486,640 $486.6K

Cap Rate 7%

$347,600 $347.6K

Cap Rate 9%

$270,356 $270.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,694 SF

Gross rent

$37.2K $13.80/SF

− Vacancy

−$2.4K −$0.90/SF

EGI

$34.8K $12.90/SF

− OpEx

−$10.4K −$3.87/SF

NOI

$24.3K $9.03/SF

Area

Alamance County, NC

Vacancy

6.50%

Lease Rate

$13.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$486,640

Cap Rate 7%

$347,600

Cap Rate 9%

$270,356

Alternative Uses

Best Use

Multifamily LT 5

$347.6K

$304.2K – $405.5K (±1% cap)

NOI $24,332 @ 7.0% cap · market cap 4.63%

Second Best

Apartment 5plus

$305.6K

$267.4K – $356.6K (±1% cap)

NOI $21,393 @ 7.0% cap · market cap 4.07%

Theoretical Best

Office A

$888.2K

$777.2K – $1.04M (±1% cap)

NOI $62,174 @ 7.0% cap · market cap 11.84%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

99

Businesses Nearby

Explore this area Business Placement

Demographics for 27244, NC

16,671

Population

5,740

Households

2.9

Avg Household Size

28

Median Age

35%

College-Educated

91%

High-School Grad

53.8 sq mi

ZIP Area

310

Density / Sq Mi

$70,982

Median Household Income

$22,318

Median Earnings

$831

Median Rent

$248,500

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Frequently Asked Questions

What type of property is this?

Duplex - Each residence has three bedrooms and three full baths, with tenants currently in place.

Where is this duplex located?

The property is located at 622-624 S Williamson Avenue Elon, NC.

What is the asking price?

The asking price for this property is $525,000.

What are key features of this property?

This property features: Two residences, each with 3 bedrooms and 3 full baths; Six bedrooms and six full baths in total; Built in 2006