Two-Unit Duplex with
For Sale
$269,900
706 Colfax Street, Durham, NC 27701
Residential Income, Durham, NC
Property Size1,500 SF
Lot Size0.15 Acres
Price / SF$179.93
Days on Market18
Property Features for 706 Colfax Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RU-5(2)
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 2, Bedroom 3
Parking features
Garage
Interior features
Ceiling Fan(s), Stone Counters
Exterior features
Rain Gutters
Appliances
Dryer, Electric Range, Free-Standing Electric Range, Free-Standing Range, Free-Standing Refrigerator, Microwave, Range, Refrigerator, Washer, Washer/Dryer Stacked
Subdivision
Not in a Subdivision
Elementary school
Durham County Schools
Middle school
Durham County Schools
High school
Durham County Schools
Standard status
Active
APN
119162
Size
1,500 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PROP-SMITH J W/LT#05 PL:00001B-000218
Tax Annual Amount
2766
Legal Description
PROP-SMITH J W/LT#05 PL:00001B-000218
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air, Ceiling Fan(s)
Water source
Public
Building Details
Year built
1970
Floors in Building
1
Number of units
2
Flooring type
Wood, Laminate, Carpet, Vinyl
Building materials
Brick, Masonite
Roof type
Shingle
Listing Agency:
West & Woodall Real Estate - D
(919) 382-2000
Listed By:
David Bermel · License #322202
(336) 213-4325
Added: Sep 28
Changed: Oct 12
Last Checked: Oct 15 at 3:06AM
MLS# 10197911
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 1,500-square-foot duplex contains two fully occupied residences, each arranged with two bedrooms and one bathroom. The property was built in 1970, and its roof was replaced in 2024. Central heating and air conditioning serve the units, and a garage is included. The 0.15-acre parcel has public water and sewer service and RU-5(2) zoning.
The property is in Durham, minutes from Downtown Durham and NCCU. New and ongoing residential construction is present in the surrounding area.
The property is in Durham, minutes from Downtown Durham and NCCU. New and ongoing residential construction is present in the surrounding area.
Key Highlights
- Two fully occupied units, each with 2 bedrooms and 1 bathroom
- 1,500 square feet on a 0.15‑acre parcel
- Roof replaced in 2024
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,880
Cap Rate
4.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$257,600
$257.6K
Cap Rate 7%
$184,000
$184.0K
Cap Rate 9%
$143,111
$143.1K
Market Conditions
NOI Build-Up for 1,500 SF
Gross rent
$20.7K $13.80/SF
− Vacancy
−$2.3K −$1.53/SF
EGI
$18.4K $12.27/SF
− OpEx
−$5.5K −$3.68/SF
NOI
$12.9K $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%
$257,600
Cap Rate 7%
$184,000
Cap Rate 9%
$143,111
Alternative Uses
Best Use
Multifamily LT 5
$184.0K
$161.0K – $214.7K
NOI $12,880 @ 7.0% cap · market cap 4.77%
Second Best
Apartment 5plus
$161.1K
$141.0K – $188.0K
NOI $11,277 @ 7.0% cap · market cap 4.18%
Theoretical Best
Office A
$484.4K
$423.8K – $565.1K
NOI $33,906 @ 7.0% cap · market cap 12.56%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
758
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 - Both residences offer two bedrooms, one bathroom, and central heating and cooling.
Where is this duplex located?
The property is located at 706 Colfax Street Durham, NC.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: Two fully occupied units, each with 2 bedrooms and 1 bathroom; 1,500 square feet on a 0.15‑acre parcel; Roof replaced in 2024
