Remodeled
For Sale
$369,900
908 Price Avenue, Durham, NC 27701
Both vacant units feature open layouts, quartz kitchen counters, and separate HVAC systems installed during the 2022 renovation.
Property Size1,696 SF
Price / SF$218.10
Days on Market22
Property Features for 908 Price Avenue
General Information
Standard status
Active
Size
1,696 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,502
Building Details
Year Renovated
2022
Buildings
1
Listing Agency:
EXP Realty LLC
(888) 584-9431
Listed By:
Adam Daneker Ward · License #344125
(336) 324-8569
Source:
Exprealty
Added: Sep 24
Changed: Oct 11
Last Checked: Oct 13 at 2:01AM
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 EXP Realty LLC
Investment Insights
Based on property information with market context.
This 1,696-square-foot duplex contains 4 bedrooms and 2 bathrooms, with both units vacant. A 2022 renovation added a new roof, gutters, Hardie plank siding, exterior doors, low-E vinyl windows, and premium-grade LVP flooring throughout. Each unit has its own HVAC system and ductwork, along with an open floor plan and a kitchen with 42-inch shaker cabinets and quartz counters. Plumbing and electrical fixtures were also updated.
The property is less than 1 mile from Downtown Durham and Durham Bulls Stadium. The American Tobacco Trailhead is a short distance away, providing access to Durham’s greenway system.
The property is less than 1 mile from Downtown Durham and Durham Bulls Stadium. The American Tobacco Trailhead is a short distance away, providing access to Durham’s greenway system.
Key Highlights
- 1,696‑square‑foot duplex with 4 bedrooms and 2 bathrooms
- Both units are vacant
- Renovated in 2022, including new roof, gutters, siding, exterior doors, and low‑E vinyl windows
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,563
Cap Rate
3.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$291,260
$291.3K
Cap Rate 7%
$208,043
$208.0K
Cap Rate 9%
$161,811
$161.8K
Market Conditions
NOI Build-Up for 1,696 SF
Gross rent
$23.4K $13.80/SF
− Vacancy
−$2.6K −$1.53/SF
EGI
$20.8K $12.27/SF
− OpEx
−$6.2K −$3.68/SF
NOI
$14.6K $8.59/SF
Area
Durham, NC
Vacancy
11.11%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$291,260
Cap Rate 7%
$208,043
Cap Rate 9%
$161,811
Alternative Uses
Best Use
Multifamily LT 5
$208.0K
$182.0K – $242.7K
NOI $14,563 @ 7.0% cap · market cap 3.94%
Second Best
Apartment 5plus
$182.1K
$159.4K – $212.5K
NOI $12,750 @ 7.0% cap · market cap 3.45%
Theoretical Best
Office A
$547.7K
$479.2K – $638.9K
NOI $38,336 @ 7.0% cap · market cap 10.36%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
668
Businesses Nearby
Explore this area
Business Placement
Demographics for 27701, NC
25,208
Population
13,409
Households
1.9
Avg Household Size
34
Median Age
50%
College-Educated
85%
High-School Grad
5.2 sq mi
ZIP Area
4,848
Density / Sq Mi
$66,852
Median Household Income
$47,681
Median Earnings
$1,279
Median Rent
$457,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Both vacant units feature open layouts, quartz kitchen counters, and separate HVAC systems installed during the 2022 renovation.
Where is this duplex located?
The property is located at 908 Price Avenue Durham, NC.
What is the asking price?
The asking price for this property is $369,900.
What are key features of this property?
This property features: 1,696‑square‑foot duplex with 4 bedrooms and 2 bathrooms; Both units are vacant; Renovated in 2022, including new roof, gutters, siding, exterior doors, and low‑E vinyl windows
