Two-Bedroom Duplex with
For Sale
$490,000
7413 Leesville Road, Raleigh, NC 27613
Both residences offer flexible layouts, fireplaces, private outdoor space, and attached storage closets.
Property Size2,231 SF
Days on Market13
Property Features for 7413 Leesville Road
General Information
Standard status
Active
Size
2,231 SF
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/1.5BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,771
Amenities
fireplace
private deck
storage closet
dual vanity
Building Details
Building Size
2,231 SF
Year Built
1981
Buildings
1
Listing Agency:
DASH Carolina
(252) 723-9236
Listed By:
Charles Michael Willis · License #316644
(252) 723-9236
Source:
Dustinbennett
Added: Jul 30
Changed: Aug 11
Last Checked: Aug 11 at 12:32PM
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 DASH Carolina
Investment Insights
Based on property information with market context.
Built in 1981, this duplex contains two residences, each configured with 2 bedrooms, 1 full bathroom, and 1 half bath. The interiors feature open living areas with fireplaces and abundant natural light. Full bathrooms include dual vanities, while private rear decks and attached storage closets add practical outdoor space to each unit.
The property is located in North Raleigh, approximately 12 minutes from the shopping, dining, and entertainment offerings of North Hills. Parks, greenways, and everyday conveniences are also described as being minutes away. The two-unit configuration supports both an owner-occupant arrangement and an investment-oriented use, as stated in the property information.
The property is located in North Raleigh, approximately 12 minutes from the shopping, dining, and entertainment offerings of North Hills. Parks, greenways, and everyday conveniences are also described as being minutes away. The two-unit configuration supports both an owner-occupant arrangement and an investment-oriented use, as stated in the property information.
Key Highlights
- Two‑unit duplex built in 1981
- Each unit includes 2 bedrooms, 1 full bathroom, and 1 half bath
- Open living rooms with fireplaces and abundant natural light
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$23,984
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.89%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$479,680
$479.7K
Cap Rate 7%
$342,629
$342.6K
Cap Rate 9%
$266,489
$266.5K
Market Conditions
NOI Build-Up for 2,231 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$36.1K $16.20/SF
− Vacancy
−$1.9K −$0.84/SF
EGI
$34.3K $15.36/SF
− OpEx
−$10.3K −$4.61/SF
NOI
$24.0K $10.75/SF
Area
ZIP 27613
Vacancy
5.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$479,680
Cap Rate 7%
$342,629
Cap Rate 9%
$266,489
Alternative Uses
Best Use
Multifamily LT 5
$342.6K
$299.8K – $399.7K
NOI $23,984 @ 7.0% cap · market cap 4.89%
Second Best
Apartment 5plus
$303.2K
$265.3K – $353.7K
NOI $21,222 @ 7.0% cap · market cap 4.33%
Theoretical Best
Office A
$581.0K
$508.3K – $677.8K
NOI $40,667 @ 7.0% cap · market cap 8.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
416
Businesses Nearby
Explore this area
Business Placement
Demographics for 27613, NC
46,969
Population
20,099
Households
2.3
Avg Household Size
39
Median Age
68%
College-Educated
98%
High-School Grad
25.5 sq mi
ZIP Area
1,842
Density / Sq Mi
$119,362
Median Household Income
$70,722
Median Earnings
$1,478
Median Rent
$478,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Both residences offer flexible layouts, fireplaces, private outdoor space, and attached storage closets.
Where is this duplex located?
The property is located at 7413 Leesville Road Raleigh, NC.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: Two‑unit duplex built in 1981; Each unit includes 2 bedrooms, 1 full bathroom, and 1 half bath; Open living rooms with fireplaces and abundant natural light
