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    Income-Producing Duplex Near Downtown Raleigh Title is generated by Realmo AI

    808 Vardaman Street, Raleigh, NC 27610

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    Claim this Listing
    New
    For Sale
    $875,000

    MULTI_FAMILY - Raleigh, NC

    Property size:
    2,390 SF
    Lot size:
    0.10 Acres
    Price / SF:
    $366/SF
    Added:
    May 14, 2026
    Days on Market:
    5
    Last Refresh:
    May 18 at 6:06 pm

    Property Features for 808 Vardaman Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    R-10
    Bedrooms
    6
    Bathrooms
    4
    Rooms
    Bedroom 6, Bedroom 5, Bedroom 3, Bathroom 3, Bathroom 4, Dining Room, Bedroom 2, Bedroom 4, Bathroom 1, Bedroom 1, Bathroom 2, Basement
    Parking features
    Driveway
    Patio and Porch features
    Porch
    Interior features
    Bathtub/Shower Combination, Ceiling Fan(s), Eat-in Kitchen, Granite Counters, Kitchen/Dining Room Combination, Open Floorplan, Primary Downstairs, Recessed Lighting, Smooth Ceilings, Walk-In Closet(s)
    Exterior features
    Fenced Yard, Private Yard, Rain Gutters
    Fencing
    Fenced
    Basement
    Crawl Space
    Appliances
    Dryer, Gas Range, Microwave, Refrigerator, Washer
    Standard status
    Active
    APN
    1713256075
    Size
    2,390 SF
    Lot size
    0.10 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    Lo18 Hightower Street Properties LLC Unrcd Srvy
    Tax Annual Amount
    6759

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central
    Cooling system
    Ceiling Fan(s), Central Air
    Water source
    Public

    Building Details

    Year built
    2022
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Tile, Vinyl, Carpet
    Building materials
    Fiber Cement
    Roof type
    Shingle

    We can help!

    Listing Contact
    Michael Terbet

    Listing agent Michael Terbet

    Listing office Coldwell Banker HPW 5000 Falls Of Neuse Rd.Ste.100, Raleigh, NC

    Listing date May 14, 2026

    MLS# 10167320 Listing URL

    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.

    HighLights

    • Income‑producing duplex in a rapidly growing location near Downtown Raleigh.
    • Like‑new construction (built in 2022) offering low maintenance.
    • Each unit features a first‑floor primary suite and private fenced backyard.
    • Modern finishes throughout, including stainless steel appliances, LVP flooring, and granite countertops.
    • Open‑concept floorplan in each unit creates a spacious and inviting atmosphere.
    • Convenient access to Downtown Raleigh dining, shopping, entertainment, and major highways.

    Overview

    This income-producing duplex is located minutes from Downtown Raleigh. The property features two units, numbered 808 and 810. Each unit offers an open-concept floorplan with a seamless flow between the living room and kitchen. The kitchens are outfitted with stainless steel appliances, white shaker cabinets, sleek countertops, and contemporary tile backsplashes. Each unit includes a first-floor primary suite with a shared en suite bathroom, while upstairs includes two additional bedrooms and a shared full bath. Modern finishes throughout include durable LVP flooring, designer lighting, and finished bathrooms. Both units have private fenced backyards. The property is newer construction and is convenient to Downtown Raleigh dining, shopping, entertainment, and major highways. The property is zoned R-10. The property size is 2390 square feet and the lot size is 0.1 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Raleigh
    County
    Wake
    State
    North Carolina
    Longitude
    -78.620182
    Latitude
    35.769068

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    FAQs

    What type of property is this?
    Duplex - Modern duplex with strong rental potential in a growing location.
    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 $875,000.
    What are key features of this property?
    This property features: Income‑producing duplex in a rapidly growing location near Downtown Raleigh.; Like‑new construction (built in 2022) offering low maintenance.; Each unit features a first‑floor primary suite and private fenced backyard.
    (919) 621-1015
    We can help!
    Listing Contact
    Michael Terbet
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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