Duplex with Two-Bedroom
For Sale
$470,000
841 Barringer Dr, Raleigh, NC 27606
Two mirrored residences offer patios, laundry closets, and driveway parking in a naturally wooded setting.
Property Size1,641 SF
Price / SF$286.41
Days on Market80
Property Features for 841 Barringer Dr
General Information
Standard status
Active
Size
1,641 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$2,966
Amenities
patio
laundry
Building Details
Tenancy
Multi
Listing Agency:
LPT Realty, LLC
(919) 439-0965
Listed By:
George Wilson · License #223959
(919) 439-0965
Source:
Exprealty
Added: May 22
Changed: Aug 8
Last Checked: Aug 9 at 12:03PM
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 LPT Realty, LLC
Investment Insights
Based on property information with market context.
This 1,641-square-foot duplex contains two mirror-image units, each arranged with 2 bedrooms, 1 full bath, a living room, dining area, kitchen, and laundry closet. Washers and dryers are provided in both units. Unit 1 is vacant and features fresh paint plus luxury vinyl plank flooring throughout. Unit 2 is occupied under a lease running through May 31, 2027.
Both residences include a rear patio positioned among the trees, while driveway parking serves the property. The duplex is located on Barringer Dr in Raleigh, near Jones Franklin Rd and I-440, with a setting between Raleigh and Cary.
Both residences include a rear patio positioned among the trees, while driveway parking serves the property. The duplex is located on Barringer Dr in Raleigh, near Jones Franklin Rd and I-440, with a setting between Raleigh and Cary.
Key Highlights
- 1,641‑square‑foot duplex with two mirror‑image units
- Each unit includes 2 bedrooms and 1 full bath
- Unit 1 is vacant with fresh paint and new luxury vinyl plank flooring
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
$18,754
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
3.99%
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%
$375,080
$375.1K
Cap Rate 7%
$267,914
$267.9K
Cap Rate 9%
$208,378
$208.4K
Market Conditions
NOI Build-Up for 1,641 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
$28.6K $17.40/SF
− Vacancy
−$1.8K −$1.07/SF
EGI
$26.8K $16.33/SF
− OpEx
−$8.0K −$4.90/SF
NOI
$18.8K $11.43/SF
Area
Raleigh, NC
Vacancy
6.17%
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%
$375,080
Cap Rate 7%
$267,914
Cap Rate 9%
$208,378
Alternative Uses
Best Use
Multifamily LT 5
$267.9K
$234.4K – $312.6K
NOI $18,754 @ 7.0% cap · market cap 3.99%
Second Best
Apartment 5plus
$238.7K
$208.9K – $278.5K
NOI $16,709 @ 7.0% cap · market cap 3.56%
Theoretical Best
Specialty Retail
$451.0K
$394.6K – $526.2K
NOI $31,569 @ 7.0% cap · market cap 6.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
389
Businesses Nearby
Explore this area
Business Placement
Demographics for 27606, NC
48,343
Population
22,199
Households
2.2
Avg Household Size
29
Median Age
59%
College-Educated
93%
High-School Grad
24.5 sq mi
ZIP Area
1,973
Density / Sq Mi
$75,640
Median Household Income
$40,950
Median Earnings
$1,369
Median Rent
$423,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two mirrored residences offer patios, laundry closets, and driveway parking in a naturally wooded setting.
Where is this duplex located?
The property is located at 841 Barringer Dr Raleigh, NC.
What is the asking price?
The asking price for this property is $470,000.
What are key features of this property?
This property features: 1,641‑square‑foot duplex with two mirror‑image units; Each unit includes 2 bedrooms and 1 full bath; Unit 1 is vacant with fresh paint and new luxury vinyl plank flooring
