Four-Unit
For Sale
$699,900
804 Lancaster Street, Durham, NC 27701
Residential Income, Durham, NC
Property Size2,500 SF
Lot Size0.24 Acres
Price / SF$279.96
Days on Market93
Property Features for 804 Lancaster Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
RM-8
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bathroom 2, Bathroom 1, Bedroom 2, Bathroom 3, Bedroom 1, Bathroom 4, Bedroom 3
Parking features
Alley, Garage, On Street
Patio and Porch features
Porch
Subdivision
Not in a Subdivision
Elementary school
Durham County Schools
Middle school
Durham County Schools
High school
Durham County Schools
Standard status
Active
APN
100154
Size
2,500 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
The Suburban L&P Co/Blk:1 3/Lt#19 Lt#17 Pt Trinity Pl:00005A-000041, DB 2351 PG 996
Tax Annual Amount
8619
Legal Description
The Suburban L&P Co/Blk:1 3/Lt#19 Lt#17 Pt Trinity Pl:00005A-000041, DB 2351 PG 996
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Number of units
4
Flooring type
Hardwood, Carpet, Wood, Vinyl
Building materials
Vinyl Siding
Roof type
Shingle
Listing Agency:
Premier Advantage Realty Inc · Coldwell Banker Real Estate
(919) 728-1212
Listed By:
Wallace Peiffer · License #170317
(919) 302-1215
Added: Jul 15
Changed: Oct 10
Last Checked: Oct 15 at 4:06AM
MLS# 10180148
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 four-unit residential property contains 2,500 square feet on a 0.24-acre lot, with each unit arranged as one bedroom and one bathroom. Built in 1920, the building has vinyl siding, a shingle roof, forced-air heating, window-unit cooling, public water, and public sewer. Four separate utility meters serve the property, and the existing condition supports a renovation-focused plan.
A detached garage occupies the rear of the property, complemented by on-street parking and additional access from the alley. The property is located in Downtown Durham near Duke University's East Campus and Trinity Park. RM-8 zoning is in place, and the property includes porch space along with carpet, wood, vinyl, and hardwood flooring across the units.
A detached garage occupies the rear of the property, complemented by on-street parking and additional access from the alley. The property is located in Downtown Durham near Duke University's East Campus and Trinity Park. RM-8 zoning is in place, and the property includes porch space along with carpet, wood, vinyl, and hardwood flooring across the units.
Key Highlights
- Four‑unit property with one bedroom and one bathroom in each unit
- 2,500 square feet on a 0.24‑acre lot
- RM‑8 zoning in Downtown Durham
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,467
Cap Rate
3.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$429,340
$429.3K
Cap Rate 7%
$306,671
$306.7K
Cap Rate 9%
$238,522
$238.5K
Market Conditions
NOI Build-Up for 2,500 SF
Gross rent
$34.5K $13.80/SF
− Vacancy
−$3.8K −$1.53/SF
EGI
$30.7K $12.27/SF
− OpEx
−$9.2K −$3.68/SF
NOI
$21.5K $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%
$429,340
Cap Rate 7%
$306,671
Cap Rate 9%
$238,522
Alternative Uses
Best Use
Multifamily LT 5
$306.7K
$268.3K – $357.8K
NOI $21,467 @ 7.0% cap · market cap 3.07%
Second Best
Apartment 5plus
$268.5K
$234.9K – $313.3K
NOI $18,795 @ 7.0% cap · market cap 2.69%
Theoretical Best
Office A
$807.3K
$706.4K – $941.8K
NOI $56,509 @ 7.0% cap · market cap 8.07%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,135
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?
Quadplex - Renovation-ready income property with separate utility meters, a detached garage, and alley-accessed parking.
Where is this quadplex located?
The property is located at 804 Lancaster Street Durham, NC.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Four‑unit property with one bedroom and one bathroom in each unit; 2,500 square feet on a 0.24‑acre lot; RM‑8 zoning in Downtown Durham
