804 Lancaster Street Durham, NC 27701
MULTI_FAMILY - Durham, NC
Property Features for 804 Lancaster Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- RM-8
- Bedrooms
- 4
- Bathrooms
- 4
- Rooms
- Bathroom 3, Bedroom 3, Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 1, Bedroom 4, Bathroom 4
- Parking features
- On Street, Garage, Alley
- Patio and Porch features
- Porch
- 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
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
- Wood, Vinyl, Hardwood, Carpet
- Building materials
- Vinyl Siding
- Roof type
- Shingle
Listing agent Wallace Peiffer License #170317 (919) 302-1215
Listing office Premier Advantage Realty Inc 2555 Capitol Dr, Ste A, Raleigh, NC (919) 728-1212
Listing date Jul 15, 2026
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.
The property is listed for sale in RM-8 zoning. It is being sold through a court-appointed Special Proceedings sale and is subject to a 10-day upset bid period.
The seller notes the property is ready for renovation, making it well suited for buyers looking to update and reposition a small, independently metred multifamily asset.
Key Highlights
- Four‑unit property in downtown Durham, with each unit offering 1 bedroom and 1 bathroom
- Gas heat plus gas water heaters, with four separate utility meters
- Detached garage at the rear, with on‑street parking and additional parking via alley access
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $34.5k | $13.80 |
| − Vacancy | −$3.8k | −$1.53 |
| EGI | $30.7k | $12.27 |
| − OpEx | −$9.2k | −$3.68 |
| NOI | $21.5k | $8.59 |
