Building Details

Year Built 2006

Listing Agency: eXp Realty

Listed By: Amber Harvalias Show Phone

Source: Searchhomesinnorthcarolina

Added: Oct 10 Changed: Oct 15 Last Checked: Oct 15 at 2:12AM

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Investment Insights

Based on property information with market context.

Built in 2006, this duplex contains two residences totaling 2,694 square feet. Each unit has three bedrooms and three full bathrooms, providing a six-bedroom, six-bathroom configuration across the property. Both units are tenant occupied.

The property sits on a corner lot in Elon, near Elon University, shopping, dining, and major roadways.

Key Highlights

• Two units, each with 3 bedrooms and 3 full baths
• 2,694 square feet 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

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

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Current Use

Duplexes

Suggested Use

Top Pick Law Firm Real Estate Agency Auto Parts Store Dental Office Building Supply Auto Repair Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Duplex - Both residences have three bedrooms and three full baths, with tenants currently in place.

Where is this duplex located?

The property is located at 622/624 Williamson Ave 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 units, each with 3 bedrooms and 3 full baths; 2,694 square feet total; Built in 2006