Modern Two-Unit
For Sale
$799,000
808 Vardaman St, Raleigh, NC 27610
Two attached residences offer open living areas, first-floor primary suites, private fenced yards, and contemporary finishes.
Property Size2,390 SF
Price / SF$334.31
Days on Market13
Property Features for 808 Vardaman St
General Information
Standard status
Active
Size
2,390 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
2022
Listing Agency:
Coldwell Banker HPW
(919) 539-6409
Listed By:
Michael Terbet, Ida Terbet · License #101494
Source:
Livingnc
Added: Aug 19
Changed: Aug 29
Last Checked: Aug 30 at 7:03PM
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 Coldwell Banker HPW
Investment Insights
Based on property information with market context.
Built in 2022, this 2,390-square-foot duplex contains two residences identified as 808 and 810. Each unit features an open-concept living and kitchen area with stainless steel appliances, white shaker cabinetry, contemporary tile backsplashes, and durable LVP flooring. Both layouts include a first-floor primary suite with an en suite bathroom, plus two upstairs bedrooms and an additional full bath.
Private fenced backyards serve each residence, while designer lighting and updated bathroom finishes contribute to the property's modern presentation. The duplex is located on Vardaman St in Raleigh, near Downtown Raleigh and the NCSU campus, with access to dining, shopping, entertainment, and major highways.
Private fenced backyards serve each residence, while designer lighting and updated bathroom finishes contribute to the property's modern presentation. The duplex is located on Vardaman St in Raleigh, near Downtown Raleigh and the NCSU campus, with access to dining, shopping, entertainment, and major highways.
Key Highlights
- 2,390‑square‑foot duplex built in 2022
- Two units identified as 808 and 810
- Each unit has a first‑floor primary suite and two upstairs bedrooms
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
$27,596
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
3.45%
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%
$551,920
$551.9K
Cap Rate 7%
$394,229
$394.2K
Cap Rate 9%
$306,622
$306.6K
Market Conditions
NOI Build-Up for 2,390 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
$41.6K $17.40/SF
− Vacancy
−$2.2K −$0.90/SF
EGI
$39.4K $16.50/SF
− OpEx
−$11.8K −$4.95/SF
NOI
$27.6K $11.55/SF
Area
ZIP 27610
Vacancy
5.20%
Lease Rate
$17.40 /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%
$551,920
Cap Rate 7%
$394,229
Cap Rate 9%
$306,622
Alternative Uses
Best Use
Multifamily LT 5
$394.2K
$345.0K – $459.9K
NOI $27,596 @ 7.0% cap · market cap 3.45%
Second Best
Apartment 5plus
$354.0K
$309.7K – $413.0K
NOI $24,778 @ 7.0% cap · market cap 3.10%
Theoretical Best
Specialty Retail
$700.6K
$613.0K – $817.4K
NOI $49,043 @ 7.0% cap · market cap 6.14%
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
520
Businesses Nearby
Explore this area
Business Placement
Demographics for 27610, NC
75,164
Population
29,245
Households
2.6
Avg Household Size
34
Median Age
28%
College-Educated
86%
High-School Grad
45.2 sq mi
ZIP Area
1,663
Density / Sq Mi
$66,245
Median Household Income
$37,582
Median Earnings
$1,319
Median Rent
$260,300
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 - Two attached residences offer open living areas, first-floor primary suites, private fenced yards, and contemporary finishes.
Where is this duplex located?
The property is located at 808 Vardaman St Raleigh, NC.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 2,390‑square‑foot duplex built in 2022; Two units identified as 808 and 810; Each unit has a first‑floor primary suite and two upstairs bedrooms
