Renovated Two-Unit
For Sale
$349,000
710 Lee St, Durham, NC 27701
Durham duplex with updated kitchens, covered rear porches, on-site parking, and separate two-bedroom residences.
Property Size1,650 SF
Price / SF$211.52
Days on Market594
Property Features for 710 Lee St
General Information
Standard status
Active
Size
1,650 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,319
Amenities
rear covered porch
onsite parking
Building Details
Buildings
1
Listing Agency:
Berkshire Hathaway HomeService
(919) 782-6641
Listed By:
Tonya Felmly
(919) 720-8302
Source:
Exprealty
Added: Feb 28, 2025
Changed: Oct 5
Last Checked: Oct 15 at 1:48AM
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 Berkshire Hathaway HomeService
Investment Insights
Based on property information with market context.
Located at 710 Lee St in Durham, North Carolina, this duplex contains 1,650 square feet across two residential units. Each residence offers two bedrooms, a full bathroom, kitchen, living room, rear covered porch, and on-site parking, creating a consistent layout throughout the property.
Interior improvements include granite kitchen countertops, updated cabinetry, ceiling fans, and vinyl siding. Unit 2 has a new HVAC system installed in July 2023, accompanied by a 10-year parts warranty. The two-unit configuration and established residential layout provide a straightforward multifamily property format in Durham.
Interior improvements include granite kitchen countertops, updated cabinetry, ceiling fans, and vinyl siding. Unit 2 has a new HVAC system installed in July 2023, accompanied by a 10-year parts warranty. The two-unit configuration and established residential layout provide a straightforward multifamily property format in Durham.
Key Highlights
- Two‑unit duplex with 1,650 square feet
- Each unit includes 2 bedrooms, 1 full bathroom, kitchen, and living room
- Granite kitchen countertops and updated cabinetry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,168
Cap Rate
4.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$283,360
$283.4K
Cap Rate 7%
$202,400
$202.4K
Cap Rate 9%
$157,422
$157.4K
Market Conditions
NOI Build-Up for 1,650 SF
Gross rent
$22.8K $13.80/SF
− Vacancy
−$2.5K −$1.53/SF
EGI
$20.2K $12.27/SF
− OpEx
−$6.1K −$3.68/SF
NOI
$14.2K $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%
$283,360
Cap Rate 7%
$202,400
Cap Rate 9%
$157,422
Alternative Uses
Best Use
Multifamily LT 5
$202.4K
$177.1K – $236.1K
NOI $14,168 @ 7.0% cap · market cap 4.06%
Second Best
Apartment 5plus
$177.2K
$155.1K – $206.7K
NOI $12,404 @ 7.0% cap · market cap 3.55%
Theoretical Best
Office A
$532.8K
$466.2K – $621.6K
NOI $37,296 @ 7.0% cap · market cap 10.69%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
978
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
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Frequently Asked Questions
What type of property is this?
Duplex - Durham duplex with updated kitchens, covered rear porches, on-site parking, and separate two-bedroom residences.
Where is this duplex located?
The property is located at 710 Lee St Durham, NC.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,650 square feet; Each unit includes 2 bedrooms, 1 full bathroom, kitchen, and living room; Granite kitchen countertops and updated cabinetry
