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Triangle Multi-family Home Search

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Triangle Multi-Family Homes - Including Duplexes, Triplexes & Quads

Please scroll to the bottom of this page for a complete list of available inventory in the Raleigh, Durham, Chapel Hill and surrounding areas!

Duplex in Durham NC

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: 

Easier to finance

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. 

More cash flow potential than single-family homes

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. 

More people renting

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. 

Favorable per-unit pricing

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. 

Quad located in Raleigh NC - investment property

A quad located in Raleigh, NC

Property management more feasible

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. 

Extra advantages for “owner-occupied” investor

“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. 

You are the property manager and a co-tenant

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. 

Plan on dedicating time to the property

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. 

Competition on two fronts

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. 

Inconsistencies in income/expenses

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.

Up-front work needed 

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:

  • Durham
  • Chapel Hill
  • Raleigh

Multi-family Homes for Sale in the Raleigh / Durham Area

2601 Steel Bridge Road Unit #2601 and 2603, Sanford image
2601 Steel Bridge Road Unit #2601 and 2603, Sanford $189,900

Investor Special! Duplex located on Steel Bridge Rd in Sanford, NC. Each unit has one bedroom and one bathroom. Lots of potential with some "TLC".

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  • 2481925 MLS
  • ACTIVE Status
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636 Tucker Street, Burlington image
636 Tucker Street, Burlington $199,000

1 1/2 Story Home with 7 Unit and 2 Bathroom, Commons Kitchen, Rear Parking Lot, Central HVAC. Home is complete with Hardwood Floors. Annual Rental Income Approx. $32,200....

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  • 2484795 MLS
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512 Maple Avenue, Burlington image
512 Maple Avenue, Burlington $199,000

8 Units with 2 Full Bathrooms, Commons Kitchen, Hardwoods, Central HVAC, Newer Roof, and a Covered Front Porch and Rear Parking Lot. Approx. Annual Income: $36,800. Selle...

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  • 2484915 MLS
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516 W Elizabeth Street, Selma image
516 W Elizabeth Street, Selma $209,900 ▲

Great cash-flowing duplex! Calling all investors & first time buyers. This duplex has a very solid rental history and demand. Value add opportunity! Rent out or live in o...

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  • 2476652 MLS
  • ACTIVE Status
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710, 712, 714 North Street, Fayetteville image
710, 712, 714 North Street, Fayetteville $225,000

Calling all investors! This is an excellent opportunity to add three rentals to your portfolio or purchase this package for future development. Three homes on 2 acres of ...

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  • LP690218 MLS
  • ACTIVE Status
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212 Depot Street, Roxboro image
212 Depot Street, Roxboro $225,000

Combined 1.77 acre lot that is zoned B-1. Currently has 3 rental homes (208, 212 and 216 Depot St) and a very large storage building on the property. One is currently ren...

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  • 2490989 MLS
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203 Country Club Drive, Fayetteville image
203 Country Club Drive, Fayetteville $239,000

Rare opportunity to acquire a spacious duplex located off of Country Club Drive. Very close to the VA Hospital, shopping, schools, etc. Estimated huge gross rents with a ...

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  • LP695477 MLS
  • ACTIVE Status
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721 N Privette Street, Zebulon image
721 N Privette Street, Zebulon $260,000

Perfect for house hacking! Rent one side, live in the other to keep your mortgage affordable! Duplex with two 2BR, 1BA units with laundry room, kitchen and nice size livi...

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  • 2464636 MLS
  • ACTIVE Status
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725 N Privette Street, Zebulon image
725 N Privette Street, Zebulon $260,000

Perfect for house hacking! Rent one side, live in the other to keep your mortgage affordable! Duplex with two 2BR, 1BA units with laundry room,kitchen and nice size livin...

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  • 2464772 MLS
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625 N Privette Street, Zebulon image
625 N Privette Street, Zebulon $280,000

Perfect for house hacking! Rent one side, live in the other to keep your mortgage affordable! Two story duplex with two 2BR, 1.5 BA units. Nice yard space that could easi...

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  • 2465337 MLS
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104 Jennifer Drive, Clayton image
104 Jennifer Drive, Clayton $300,000

Home will be sold AS IS, owner will not make repairs. This property is 2.63 acres and structure needs lots of work both inside and out before it could be up and running ...

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  • 2438800 MLS
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706 & 708 N Pollock Street, Selma image
706 & 708 N Pollock Street, Selma $319,000 ▼

TWO newly updated homes for the investor in Johnston County! BOTH have newly installed roofs and in home #708 New HVAC installed 2022! One lives like brand new with newl...

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  • 2478404 MLS
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201 Gold Street, Wilson image
201 Gold Street, Wilson $335,000

**Back on the market** Triplex each unit is 2 bed/1 bath. Private lot, low taxes, Three blocks from Wilson downtown $100M project Pine-Nash street. Close to Barton Col...

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  • 2459735 MLS
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168 E Hill Avenue, Sanford image
168 E Hill Avenue, Sanford $350,000

Investor Opportunity! Updated brick ranch home and a duplex! Per the owner, lots of updates in 2017 including: new wiring, HVAC, duct work, plumbing, roof, and windows. D...

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  • 2482414 MLS
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82 Seminole Point, Siler City image
82 Seminole Point, Siler City $367,900

2 UNITS- RENTAL POTENTIAL. Ready to move in 3/2 Ranch AND Apartment on 1 acre just outside of town. RENT ONE AND LIVE IN THE OTHER! Tastefully JUST RENOVATED: new applian...

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  • 2491829 MLS
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603 W Davis Street, Burlington image
603 W Davis Street, Burlington $370,000

Two Story Home located in the Historical District on a Corner Lot. Home is complete with Hardwood Floors, Newer Roof, Central HVAC, Covered Front Porch, Rear Parking Lot....

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  • 2484754 MLS
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2510-2512 2514 NOBIE Street, Fayetteville image
2510-2512 2514 NOBIE Street, Fayetteville $395,000

Excellent opportunity for the savvy investor/builder to acquire two duplexes with easy value add component. Simply raise rents to market rate. These duplexes are situated...

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  • LP696997 MLS
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236 & 232 Bridge Street, Fuquay Varina image
236 & 232 Bridge Street, Fuquay Varina $429,000

Don't miss this opportunity to own investment property in Fuquay Varina. 2 units, both are 2BR/1.5BA with eat in kitchens with pantries. Large family rooms, large fenced...

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  • 2430303 MLS
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311 E Bay Street, Dunn image
311 E Bay Street, Dunn $439,900 ▼

5 LEASED UNITS" 2 Homes located on almost an half acre lot with (5 active rentals).Larger 4 -plex Home has historic background and was Dunn's first Hospital dating back t...

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  • 2489992 MLS
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123 S Seventh Street Unit #123,124,125,126, Smithfield image
123 S Seventh Street Unit #123,124,125,126, Smithfield $445,000

Brick Duplexes in the Heart of Town. Great Investment Opportunity! Tons of Potential! Owner says will only sale with White House behind these Duplexes. MLS #2462342

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  • 2462345 MLS
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608 W Club Boulevard Unit #A&B, Durham image
608 W Club Boulevard Unit #A&B, Durham $525,000

Get creative on Club! Fantastic opportunity as an owner occupied landlord! Or strictly investment - lots of options! This charming 30's duplex boasts 2 units (vertical sp...

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  • 2485983 MLS
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335 E Pine Avenue, Wake Forest image
335 E Pine Avenue, Wake Forest $575,000

Rarest of Rare Here! Investor or 1st Time Buyer Alert ~ Brand New Duplex in Wake Forest/Wake County. Rent Both Sides Our or Live in One Side and Rent the Other. Almost Re...

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  • 2491061 MLS
  • ACTIVE Status
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720 Dillard Street, Greensboro image
720 Dillard Street, Greensboro $588,500

SELLER WILLING TO PAY $8,000.00 TOWARDS CLOSING COSTS with FULL OFFER!! NO closing cost paid if under asking. Rooms rented from $400-$550 with a income potential of $6,15...

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  • 2486353 MLS
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348 Page Street, Morrisville image
348 Page Street, Morrisville $595,000 ▼

Back on the Market with Price Improvement! Great Investment Opportunity in Prime Location in Morrisville! TWO Brick Homes and ONE Singlewide all on same parcel. Renovate ...

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  • 2481861 MLS
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1012 S Main Street, Burlington image
1012 S Main Street, Burlington $595,000

18 Unit Brick Home featuring 4 Full Bath Rooms, Common Kitchen, Hardwoods Floors, Front Porch, Side/Rear Parking Lot and also a basement. Walking Distance to downtown Bur...

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  • 2484798 MLS
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2200 Anthony Drive, Durham image
2200 Anthony Drive, Durham $599,000

Private, cul-de-sac home in quiet neighborhood with easy access to Duke, parks, shopping. Current owner lived in Unit A/leased Unit B, also leased both units during owner...

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  • 2484999 MLS
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306 McGwigan St, Enfield image
306 McGwigan St, Enfield $600,000

GREAT INVESTMENT OPPORTUNITY! Rentals will remain high in demand with the current interest rates and economy so this is a great time to get into the rental market! Recent...

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  • 2470369 MLS
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115 Pine Street, Carrboro image
115 Pine Street, Carrboro $725,000

INVESTMENT OPPORTUNITY in walk zone to DOWNTOWN CARRBORO!! *4-UNITS - Each Unit is 1,043 Sq Ft / 2 BR / 1.5 Bath with W/D hook-ups *Rear patios facing wooded views *Excel...

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  • 2491246 MLS
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3816 Thelma Street, Raleigh image
3816 Thelma Street, Raleigh $850,000

This property is selling for land value..Improvements go with the property in as is condition and are not being shown without 48 hrs. notice and a prequalification letter...

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  • 2481610 MLS
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829 Cumberland Street Unit #100 & 101, Raleigh image
829 Cumberland Street Unit #100 & 101, Raleigh $920,000 ▼

New construction duet-style home, each unit lives like a townhome. Buyer can purchase entire duplex or individual unit. First floor open concept interior provides flow, w...

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  • 2470400 MLS
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1600 E Railroad Street, Robersonville image
1600 E Railroad Street, Robersonville $950,000

Mobile home park has 24 lots. 18 homes are park owned. Park owner has paid for 4 more sewer lines to be added to the park. The park consist of 3 parcel 0702849,0700300,07...

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  • 2450838 MLS
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2532 S Roxboro Street, Durham image
2532 S Roxboro Street, Durham $950,000

Great investment opportunity to obtain a quad in the city of Durham. Each of the four units offers two spacious bedrooms and lots of storage, plus tons of cabinets and c...

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  • 2474584 MLS
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806 Old Pittsboro Road, Chapel Hill image
806 Old Pittsboro Road, Chapel Hill $975,000

Rare Investment Opportunity to own this newly-built 2-unit building right near UNC's campus! High-quality construction. LVP flooring, tile baths, well-appointed kitchens,...

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  • 2473915 MLS
  • ACTIVE Status
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3811 Marcom Street, Raleigh image
3811 Marcom Street, Raleigh $1,000,000

Incredible potential for land development or a rehab project for an existing Quadruplex. 2 units are 2 bed/1 bath . 2 units are 1 bed/ 1 bath. Prime Location near NC Stat...

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  • 2478160 MLS
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3809 Virginia Street, Raleigh image
3809 Virginia Street, Raleigh $1,000,000

The improvements are being sold as is. This property has been listed for a Land Investor as the price represents building up to 20 Townhomes with 20 ADU units. Verificati...

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  • 2481591 MLS
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121 Lines Street Unit #16, Thomasville image
121 Lines Street Unit #16, Thomasville $1,000,000

Priced reduced for quick sale. 16,709 Sqft building with 16 apartment Units. Situated in Thomasville and minutes from shopping and restaurants, sell AS IS Need updates ...

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  • 2427213 MLS
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594 Cedar Lake Road Unit #A & B, Chapel Hill image
594 Cedar Lake Road Unit #A & B, Chapel Hill $1,150,000

READY TO GO! *UPDATED 6-UNIT (3 Duplex) INVESTMENT on approx 5 ACRES in CHAPEL HILL w/ LOW CHATHAM COUNTY TAXES & NO HOA! *Over 4,400 total sq ft & $6,650 in current mont...

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  • 2461223 MLS
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153 Wading Creek Lane Unit #A-H, Fayetteville image
153 Wading Creek Lane Unit #A-H, Fayetteville $1,150,000

$1,150,000.00 CLIFFS OF ROCKFISH CONDOMINIUMS 8 PLEX. This incredible investment opportunity does not come around too often. The building is comprised of 8 individually d...

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  • LP696259 MLS
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3330 Jack Road, Clayton image
3330 Jack Road, Clayton $1,300,000

Great location - package deal! 11 acres of land ready to be developed; surrounded by established single family homes. 6 separate subdivided lots with 3 Stick Built Homes ...

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  • 2479591 MLS
  • ACTIVE Status
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4308 Batts Road, Raleigh image
4308 Batts Road, Raleigh $1,499,999

Investment opportunity. Measurements, Photos, and Floor Plans will be added by 9/29/22. No showings until 10/3/22.

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  • 2472236 MLS
  • ACTIVE Status
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Listings provided courtesy of Triangle MLS, Inc. of NC, Internet Data Exchange Database. Information deemed reliable but not guaranteed. © 2023 Triangle MLS, Inc. of North Carolina. Data last updated .

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