Two-Unit
For Sale
$269,900
706 Colfax Street, Durham, NC 27701
Each residence has two bedrooms and one bathroom, with a roof replaced in 2024.
Property Size1,500 SF
Price / SF$179.93
Days on Market33
Property Features for 706 Colfax Street
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Residential Income
Zoning
RU-5(2)
Occupancy
100%
Financials
Gross Income
$22,800
Average Monthly Rent
$950
Site & Location
Neighborhood
Edgemont
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$2,766
Amenities
Ceiling Fan(s)
Stone Counters
Rain Gutters
Building Details
Building Size
1,500 SF
Year Built
1970
Stories
1
Tenancy
Multi
Listing Agency:
West & Woodall Real Estate - D
(919) 382-2000
Listed By:
David Bermel · License #322202
(336) 213-4325
Source:
Dwellraleigh
Added: Sep 28
Changed: Oct 30
Last Checked: Oct 29 at 6:49PM
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 West & Woodall Real Estate - D
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Investment Insights
Based on property information with market context.
Built in 1970, this duplex contains two occupied residences, each with two bedrooms and one bathroom. The roof was replaced in 2024, and the property is zoned RU-5(2).
The property is in Durham, minutes from downtown and NCCU. Recently completed and ongoing home construction is present in the surrounding area.
The property is in Durham, minutes from downtown and NCCU. Recently completed and ongoing home construction is present in the surrounding area.
Key Highlights
- Two residences, each with 2 bedrooms and 1 bathroom
- Both units are currently occupied
- 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.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has two bedrooms and one bathroom, with a roof replaced in 2024.
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 residences, each with 2 bedrooms and 1 bathroom; Both units are currently occupied; Roof replaced in 2024
