Please scroll to the bottom of this page for a complete list of available inventory in the Raleigh, Durham, Chapel Hill and surrounding areas!
Modern duplex located in Durham, NC
Multi-family homes can be a great investment, especially for those who are new to real estate investing. These types of properties are easy to understand for new investors. You expect that each unit will have its own entrance, kitchen, bathroom, and utility metering - in other words, the same amenities you’d find in a single-family home.
Investing in a duplex, triplex, or four-plex (quad) is our focus in this article because these types of properties are considered residential real estate and that makes financing a much simpler task than applying for a commercial real estate loan.
Buying a multi-family home offers you a host of options for renting out the units. Some people choose to live in one and rent out the other(s). Other families use them to house extended family, aging parents or adult children, for example. Family members keep their independence, but any help needed is just a few steps away!
There are both pros and cons to these types of units, as with any real estate investment. Individual investors will need to consider many factors when making a decision. On the plus side:
Beginning investors will usually have an easier time with financing in residential units of four and less. In fact, most lenders treat these smaller multifamily units as if they were a single-family home. They are seen as a lower-risk investment and thus more attractive to lenders.
An investment in multi-family properties will typically offer you a greater monthly cash flow than a single-family home. Having leases that renew on a 3, 6, 9, or 12-month cycle means that rents can be increased according to market demand.
Multi-family homes by definition have multiple rental revenue streams, so if you own a triplex, and one unit is empty, you are still collecting rents on the other two units to defray your mortgage costs. Typically, the combined rent from multi-family homes will beat out a single-family residence at the same price point.
As an additional bonus, multi-family homes have weathered past times of economic uncertainty better than almost any other type of real estate investment.
As housing prices have risen around the country - this is certainly true in the Raleigh / Durham area - many people who would be traditional home buyers find themselves priced out of the market. Some of those families are delaying their home purchase plans for now and renting instead.
It might seem logical that the price for a multi-family home is just a multiple of an individual unit, but in fact, there are economies of scale. The second unit of a duplex, for example, may be only 50% more than buying a single unit. Because of this the cash flow on duplexes and triplexes are almost always better than the cash flow on a single family residence. Also, if one unit goes unrented then you still have the rent coming in from the other unit at least.
A quad located in Raleigh, NC
If you aren’t interested in full-time management of your multi-family property, the alternate route is to hire a property management company. That option can be cost-prohibitive for a single-family dwelling but makes more sense if you have multiple units in one property.
“House hacking” is not a cyber weapon, but an advantage that works for some investors. Here’s how it works: when you live in one of the units of the multifamily residence, it’s possible that those tenants will essentially pay your mortgage and expenses for you. Eliminating your housing costs is a huge win in anyone’s budget, especially with the way housing prices have increased in the Raleigh / Durham area in the past decade.
“Owner-occupied” properties may also have advantages for financing with lower interest rates and lower down payments.
However, there are some disadvantages to living on-site, which brings us to the downsides of buying multi-family homes.
If you are an owner-occupied property, remember that your tenants will be looking for you if they have any issues. It’s your door they will be knocking on in the middle of the night when the pipes burst.
And of course, you’re sharing walls and other common areas with your tenants. There may be more “community” in this endeavor than you’re comfortable with, so keep that in mind.
Managing a multifamily unit requires a certain time commitment. You can mitigate this downside by hiring a property manager, but keep in mind you will still need to allocate some time as you, the owner, may need to visit the property for maintenance and repair requests.
As the owner, you will have to deal with individual leases, tenants of all personality types and communication styles. However, a multifamily property is still less work than managing a portfolio of single-family homes.
When it comes to renting out your units, you will be competing with larger apartment complexes, some of which have all amenities - pools, tennis courts, fitness areas. You may not be able to command the highest rent in some areas that have multiple apartment complexes; on the other hand, some renters do prefer quieter spaces and are happy to forego the “extras.”
The other competition with multi-family units can come from more experienced investors. This sometimes shuts new investors out of the market completely. One strategy used by beginning investors is to partner with more experienced investors to learn the ropes.
Rental units can be inconsistent in terms of vacancies and maintenance expenses; even property taxes can vary wildly in some markets from year to year. We have seen taxes go up in the Raleigh / Durham area in the past 10 years, mainly due to property values increasing.
Nearly all multi-family units need a little work when you purchase them since most are not owner-occupied. One of the important things to do is to get an independent home inspector to look at the units before completing the purchase. That way if there is a major repair issue you can either negotiate with the seller or back out of the contract.
Though multi-family homes such as a duplex or triplex are rare compared to single-family homes, there is usually at least some inventory in the Triangle area. Below you will find a complete list of multi-family homes for sale in Durham, Chapel Hill, Raleigh, and the surrounding areas.
Make sure to select the appropriate county that you would like to search in, or contact us for help. We have experience in small multi-family properties and can help with assessing the property’s value.
To view multi-family homes for sale in a specific community, follow these links:
Welcome to an exciting investment opportunity in a Great location of Halifax County, minutes to HWY 95. This multi-unit property presents an excellent chance for savvy i...
Prime investment opportunity! Currently generating great rental income with tenants in place, this property offers stability and profitability. Nestled in a highly desira...
***Investment Alert*** This income producing duplex has been fully renovated and would be a great investment property for a first time investors or seasonal investors to ...
Duplex in downtown Zebulon, priced to sell, walking distance from lively N. Arendell. Take advantage of a rental property near bars, restaurants, bank, dry cleaners, cafe...
This duplex is offered "AS IS"
Great investment property located in Historic Downtown Lumberton. Wrap yourself around this charming older home with many updated features. Located just a nice stroll fro...
WONDERFUL OPPORTUNITY FOR HOUSEHACKING! Live in one side and collect the rent from the other. Where's the downside? This duplex is move-in ready with many updates includi...
Attention Investors! Rented and long term tenants want to stay. Independent water & electric meters for each unit. Currently tenants are are month to month. Being sold ''...
Great investment opportunity alert! Check out this Multi-Family, Triplex listing for sale in Fayetteville with 3 units. Each unit features 1 bedroom, 1 bathroom, and 2 cl...
TRIPLEX! Located in the Historic District and down the street from Barton College. All units rented. Call today for a showing!
Amazing Opportunity To Own Income Producing Rental Properties In Raleigh! 327 Is Situated On A DOT Maintained Road With Ample Frontage, Has A Sprawling Lot with A Huge Fr...
A true turn key duplex in East Durham Recently remodeled in 2023, this property features new cabinets, granite counter tops, Tile flooring, and brand new stainless steel ...
Amazing Opportunity To Own Income Producing Rental Properties In Raleigh! 325 A /B Is Situated On A DOT Maintained Road With Ample Frontage, Has A Sprawing Lot with A Hug...
GREAT INVESTMENT PROPERTIES! 3 Homes all rented on 2 parcels right in the great area of Four Oaks! Each home is tenant occupied. No restrictions. Country living in the he...
Attention investors! Great opportunity for the first time or experienced investor looking to add to their investment portfolio, Each unit features two bedrooms and one b...
**Income-Producing Duplex Investment Opportunity!** Welcome to 205 A & B Mitchell Ave in Franklinton! This duplex offers an exceptional opportunity for savvy investors....
Two properties being sold together - 3238 Princess Ann Dr and 3254 Princess Ann Dr. (vacant lot next door) 3238 Princess Ann has 5 Trailers included in sale, occupied and...
Rare opportunity to acquire a spacious duplex located off of Country Club Drive. Very close to the VA Hospital, shopping, schools, etc. 1bed/1bath and 2bed/1bath duplex. ...
Welcome to a unique real estate opportunity on 1.5 acres of prime land, featuring four homes with great potential. With some renovation updates, these homes can be transf...
ITB Ranch in great residential street. Ready to get some TLC from his next owner. live in or use it as an investment property. Excellent opportunity
RARE INVESTMENT OPPORTUNITY! Become the trend setter of a small neighborhood just now being touched by Durham's endless growth potential. This duplex offers 2bed 1bath f...
2 unit modern duplex available for sale. Duplex consists of 3bed/2 baths on unit B and unit A consists of 3 bed/1bath. Unit A is occupied on a one year lease for $1550/mo...
This old historic home has been converted into a rooming house. The manager lives in the property. Three large bedrooms rooms each rent for $160/week ($640/month) and the...
Discover this charming off water Lake Gaston home nestled along Hole 9 of the Tanglewood Shores Golf Course - noted as the most challenging 9-hole course in Virginia! Thi...
Are you looking for the perfect investment opportunity? Look no further! This incredible multi-family unit offers not just one, but FIVE units - 3 are 2 bedroom units and...
Excellent 7 home investment package. All homes are situated on 4 contingenous parcels comprising 3.65 acres. All units (4 double wides and 3 single wides) are 3 bedroom 2...
This gorgeous home is located in Gleneagles Subdivison (55+ community with clubhouse/pool/fitness facility that includes lawn maintenance). All new custom cabinets in kit...
DUPLEX! A rare opportunity to buy 2 Homes for one price! Live in 1 and Rent 1 or 2 Great Rentals! Both units are 2 Bedrooms/2 Baths! WALK to all Downtown Bunn has to offe...
Great move-in ready investment opportunity! Beautiful renovated duplex close to downtown Wake Forest with tons of upgrades! Updated kitchen with new granite counter tops,...
''AS, IS'' - NO REPAIRS WILL BE MADE- Discover the perfect investment opportunity in this charming duplex located in the thriving city of Durham, NC, just minutes from do...
Discover an exceptional commercial investment opportunity at 1233 Burchette Road in Warrenton, North Carolina. This expansive 42-acre parcel(approx.), strategically posit...
Duplex on over half an acre now available in Garner! Each unit has 2 bedrooms 1.5 bathrooms. Driveway for each unit and fenced in yard. Strong rental history!
Great investment opportunity! Duplex in N. Raleigh minutes to shopping, restaurants, parks, hospitals and highways. Both units are rented until summer of 2024. Granite co...
Charming ranch style duplex close to downtown Raleigh, shopping, restaurants, employment opportunities. Each side is 3 bedrooms, 2 bathrooms. Excellent turnkey property w...
Everyone needs a Purpose! This Paired Villa home plan by Garman Homes in Live Oaks offers luxurious main-floor living! Private study at front of home, large primary suit...
The Purpose! Paired Villa home plan by Garman Homes in Live Oaks offers luxurious main-floor living! Private study at front of home, large primary suite w/HUGE walk-in c...
The Meaning! Paired Villa home plan by Garman Homes in Live Oaks offers luxurious main-floor living! Private study at front of home, large primary suite w/HUGE walk-in c...
North Raleigh! Duplex with strong rental history!
ATTENTION INVESTORS!!! This package of investment properties includes 2 duplexes and 3 single-family homes. All units are rented with a month-to-month lease. Single fa...
Duplex investment opportunity just outside I440. Relatively low exterior maintenance, this duplex has already been updated. New windows, new interior colors, carpets, ba...
Cool Mid Century stone duplex on corner lot with .21 acres near downtown. Each side has 3 bedrooms and 1 bath. Long term month to month tenants. 3 BR 1 bath on both si...
Duplex in the heart of Cary! One side (714) currently occupied through April of 2025 at $1,475/month. 716 is currently vacant. 714 is 2 bedrooms & 1.5 bathrooms. 716 is 2...
Main home is 1,660 sqft w/3 beds and 2.5 baths. 500 sqft Apt above garage is 1bed/1bath This custom multi family build is tucked away on a private .4 acre lot close to B...
Duplex in the heart of Raleigh! Walking distance to Downtown Raleigh restaurants, bars, and more! Each unit is 2 bedroom, 1 bathroom. Duplex has previously been used as a...
Modern functionality meets lakeside mentality; welcome to Wrenwood. Nestled minutes from DTR, near Lake Johnson's shore sit 26 turnkey dwellings in 13 duet-style builds. ...
Great brick ranch duplex located just minutes from downtown Raleigh! Sitting on a .72 acre corner lot, tons of outdoor space and plenty of parking. Both units are current...
This charming duplex presents a fantastic investment opportunity or a comfortable living arrangement with an added income stream. Each unit offers a well-designed layout ...
Amazing investment property with 3800K a month in rent. Off street parking. Great location. Long time tenant with excellent rental history. Right beside of the Wallto...
EXCELLENT INVESTOR OPPORTUNITY! Updated duplex located in great area of North Raleigh! Situated in a sought-after location, this property presents a remarkable chance to ...
Welcome to the stunning pre-sale new construction duplex built by Family Building Company. Each side offers 3 bedrooms and 2.5 baths in an open concept design featuring t...
Experience perfection in this impeccably maintained residence boasting a brilliant floor plan. Nestled on a generous .64-acre level lot, discover sunny havens and enchant...
Main home is 1,864 sqft w/3 beds and 2.5 baths. 500 sqft Apt above garage is 1bed/1bath This custom multi family build home is tucked away on a private .8 acre lot close ...
Multi- Unit home in the heart of Downtown Raleigh. Unique Historic Oakwood home is being used as 4 apartments. 3520 total sq feet. Home is zoned OX-3. No representation ...
Almost new Duplex minutes from downtown Zebulon. Each unit is 2188 sqft 3 bedroom 2.5 bath with a bonus room and 1 car garage. Total sqft of the duplex is 4,376. Oppor...
This multifamily opportunity consists of two dwellings, unit B and unit C. Each with their own parking and yard space. Completely modern designed signal family home! Op...
Investment property in desirable Downtown Raleigh location. Minutes from Moore Sq and Fayetteville St. Property is 3 apartments, 1BR/1BA each. All 3 apartments are ren...
Welcome to an exceptional investment opportunity in downtown Burlington, presenting 5-unit apartment building. This property seamlessly blends contemporary convenience wi...
Duplex & Land portfolio in downtown Durham! This listing offers 1508, 1510, 1512 N Alston Avenue, & 804 Lee St. Lots on N Alston Ave currently have 2duplexes, all 4 units...
Excellent investment opportunity. 8-unit multi-family property located in Spring Lake, NC. Less than 10 minutes to military base and centrally located to shopping, dining...
Fully furnished turnkey investment property positioned to capture the High Point furniture market business, relocators, corporate and worker housing. Licensed contractor ...
ALL BRICK, 8 unit apartment building located in Fayetteville city limits. Each unit has 2 bedrooms, 1 bath. 3 of the units are occupied, 5 vacant. Each unit rents for $11...
Explore a unique investment opportunity in historic Wilmington mid-19th century properties. Nestled in the prime downtown district of one of the city's top 10 high-appre...
Beautiful and completely remodeled Quad on a cul de sac. Fully Leased - come and collect rents - no work needed. ALL UNITS UPDATED TOP TO BOTTOM! All units have new floo...
An urban oasis with the rare versatility you've been looking for. Welcome to your beautiful 1932 renovated home with an updated, separate apartment OR savvy, dual income ...
An urban oasis with the rare versatility you've been looking for. Welcome to your beautiful 1932 renovated home with an updated, separate apartment OR savvy, dual income ...
Location, Location, Location! Ever dreamed of being a landlord? Maybe you want to develop a brand new lifestyle option close to the popular downtown Cary location. So man...
INVESTMENT OPPORTUNITY! 3 Duplexes located on private road about 5-6 miles from UNCP. These units are maintained by the owner and managed by 1ST CHOICE REAL ESTATE. Ea...
Unique and rare investment property in the historic downtown Wilmington. Renovated Mid 1800s building with Upgrades. Nestled in the prime downtown district of one of the ...
Discover an exceptional real estate opportunity in the heart of Cary, North Carolina - a versatile triplex with the added advantage of commercial zoning, all set on a 1.2...
Wonderful opportunity for steady rental income from (3) units with 2 bedrooms and 2.5 baths in each unit. Each unit is currently rented.
Come see the latest duplex concept from Raleigh based RDG and secure a wonderful place to live in downtown Raleigh with exceptional proximity to all the local offerings. ...
Great wooded cul de sac! 1.5 miles to downtown. BACK TO BACK Duplex. Unit A has all bedrooms up. Granite Kitchen open to Great Room. 8-foot Kitchen Island. HUGE walki...
Discover boundless options and opportunities with this extraordinary package deal, boasting approximately 4200+ square feet of total heated area nestled in the heart of U...
WOW all of this for only $1.1 million. NEW Construction in CLIFFS OF ROCKFISH CONDOMINIUMS. This 8 PLEX BRAND NEW CONSTRUCTION investment opportunity does not come around...
Rare opportunity for new construction duplex and superb rental/investment property! Rent both sides or live in one and rent the second. Modern design and functional liv...
Property is in overall average condition. All units rented. Highest & best use is probably not current use. Priced for potential/future use, teardown/rebuild. .34 acre...
It's a fantastic turn-key investment opportunity. Four single-family properties total, fully furnished. Long-term professional tenants under lease. Net Operating Incom...
This stunning multi-generational home is nestled on a 3-acre wooded lot on a no-outlet street in Chapel Hill. Two homes in one with superior quality and meticulous crafts...
Back on the market due to no fault of the sellers. Calling all investors! Excellent investment opportunity. There are 12 units that have titles in hand and 2 units that a...
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