Building Details

Building Size 2,390 SF

Year Built 2022

Listing Agency: Coldwell Banker HPW

Listed By: Michael Terbet · License #248722 Show Phone

Source: Dustinbennett

Added: May 14 Changed: Oct 11 Last Checked: Oct 16 at 4:35PM

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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.

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 / Yr

$27,596

Cap Rate

3.45%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$551,920 $551.9K

Cap Rate 7%

$394,229 $394.2K

Cap Rate 9%

$306,622 $306.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,390 SF

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 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 (±1% cap)

NOI $27,596 @ 7.0% cap · market cap 3.45%

Second Best

Apartment 5plus

$354.0K

$309.7K – $413.0K (±1% cap)

NOI $24,778 @ 7.0% cap · market cap 3.10%

Theoretical Best

Specialty Retail

$700.6K

$613.0K – $817.4K (±1% cap)

NOI $49,043 @ 7.0% cap · market cap 6.14%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Dental Office Garden Center HVAC Service Accounting Firm Kitchen & Bath Showroom Carpet & Flooring Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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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 Street 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