Spectacular upside. Beautiful setting near Duke Forest, I-40, and New Hope Commons. After simple surface renovation of several units a CAP rate of 11 should be achievable. Nothing comparable available in this market. Onsite laundry, playground and garden. Owner pays electric for well pump, laundry and common areas. Units have individual HVAC units.
Spectacular upside. Beautiful setting near Duke Forest, I-40, and New Hope Commons. After simple surface renovation of several units a CAP rate of 11 should be achievable. Nothing comparable available in this market. Onsite laundry, playground and garden. Owner pays electric for well pump, laundry and common areas. Units have individual HVAC units.
Public Records
Nov 12, 2010
Sold
$1,040,000
TMLS #1740966
Nov 12, 2010
Sold
$1,300,000
Nov 12, 2010
Sold
$1,300,000
Aug 5, 2010
Listed
$1,300,000
Aug 5, 2010
Listed
$1,300,000
+15
PRICE JUST REDUCED!!! GREAT INVESTMENT PROPERTY, GREAT LOCATION. Convenient for both Duke & UNC students. ALL BRICK EXTERIOR. 36 units in three buildings. Four units per floor. All 2 bed/1 bath. Features extensive grounds, free laundry & wi-fi for tenants. Community garden and recreaction area. Just across from Forest View Elementary. GREAT CASH FLOW NOW & EVEN BETTER POTENTIAL.
Year
Property tax
Land + Additions
Assessment*
2025
$32,431 (+28.4%)
$720,000 + $3,808,464
$4,528,464
2024
$25,253 (+5.4%)
$720,000 + $3,808,464
$4,528,464
2023
$23,954 (+4.6%)
$360,000 + $2,089,214
$2,449,214
2022
$22,892 (+17.2%)
$360,000 + $2,089,214
$2,449,214
2021
$19,540 (+1.3%)
$360,000 + $2,089,214
$2,449,214
2020
$19,295
$360,000 + $2,089,214
$2,449,214
2019
$19,295 (+75.7%)
$360,000 + $2,089,214
$2,449,214
2018
$10,980 (+1.2%)
$360,000 + $908,885
$1,268,885
2017
$10,853 (+3.3%)
$360,000 + $908,885
$1,268,885
2016
$10,503 (+14.2%)
$360,000 + $908,885
$1,268,885
2014
$9,195 (+0.9%)
$360,000 + $670,155
$1,030,155
2013
$9,115 (+4.2%)
$360,000 + $688,971
$1,048,971
2012
$8,747 (−0.2%)
$360,000 + $688,971
$1,048,971
2011
$8,763
$360,000 + $688,971
$1,048,971
Tax history for 5200 Kerley Rd
Year
Property tax
Land + Additions
Assessment*
2025
$32,431 (+28.4%)
$720,000 + $3,808,464
$4,528,464
2024
$25,253 (+5.4%)
$720,000 + $3,808,464
$4,528,464
2023
$23,954 (+4.6%)
$360,000 + $2,089,214
$2,449,214
2022
$22,892 (+17.2%)
$360,000 + $2,089,214
$2,449,214
2021
$19,540 (+1.3%)
$360,000 + $2,089,214
$2,449,214
2020
$19,295
$360,000 + $2,089,214
$2,449,214
2019
$19,295 (+75.7%)
$360,000 + $2,089,214
$2,449,214
2018
$10,980 (+1.2%)
$360,000 + $908,885
$1,268,885
2017
$10,853 (+3.3%)
$360,000 + $908,885
$1,268,885
2016
$10,503 (+14.2%)
$360,000 + $908,885
$1,268,885
2014
$9,195 (+0.9%)
$360,000 + $670,155
$1,030,155
2013
$9,115 (+4.2%)
$360,000 + $688,971
$1,048,971
2012
$8,747 (−0.2%)
$360,000 + $688,971
$1,048,971
2011
$8,763
$360,000 + $688,971
$1,048,971
*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.
Public record
Public record
Zoning
Permits
Beds
—
Baths
—
Stories
2
Lot width
—
Lot depth
—
Lot size
1.68 Acres
Year renovated
—
Sq. Ft.
7,384
Year built
1966
Style
Multi-Family (5+ Unit)
County
Orange County
APN
137851
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Jul 17, 2026.
RS-M
Residential Suburban Districts
The RS Districts are established to provide for orderly suburban residential development and redevelopment. A limited number of nonresidential uses are allowed, subject to the restrictions necessary to preserve the character of the suburban neighborhood. Multifamily development is permitted in areas designated RS-M, which should have convenient access to arterial streets and nearby civic, commercial or employment uses. The RS Districts are used to implement the Comprehensive Plan within those areas shown as the Suburban Tier and within Rural Villages (as designated in the Comprehensive Plan) within the Rural Tier.
Permitted uses
Include but are not limited to:
Agriculture-Other
Mar 28, 2019 • Final
Electrical
Electrical
Dec 28, 2017 • Final
Electrical
Install electrical wiring for an air handler and central air conditioning unit.
Electrical
HVAC
Permit history is from public records and may be incomplete or inaccurate. Redfin and its agents make no representations about the property condition or permit status. Buyers should independently verify all information.
Property details
Parking
Parking Information
Parking Total: 2
Interior
Interior Features
Flooring: Carpet, Tile, Vinyl
Multi-Family Financial Information
Number Of Units Total: 36
Owner Pays: Electricity, Sewer
Exterior
Building Information
Construction Materials: Brick Veneer
Building Area Total: 0.0
Lot Information
Lot Size Acres: 0.0
Lot Size Area: 0.0
Lot Size Square Feet: 0.0
Financial
Financial Information
Buyer Financing: Conventional
Utilities
Utility Information
Sewer: Public Sewer
Water Source: Well
Heating & Cooling
Heating: Yes
Heating Information: Electric
Location
School Information
Elementary School: Durham - Forest View
Middle Or Junior School: Durham - Githens
High School: Durham - Jordan
Location Information
County Or Parish: Durham
Directions: From I-40, take 15-501 N, left on Mt Moriah, right on Erwin, left on Kerley.
Latitude: 35.988834
Longitude: -78.994049
Postal Code: 27705
Public facts
Beds: —
Baths: —
Sq. Ft.: 7,384
Stories: 2.0
Lot Size: 1.68 acres
Style: Multi-Family (5+ Unit)
Year Built: 1966
Year Renovated: —
County: Orange County
APN: 137851
Home facts updated by county records on Jul 17, 2026
Other
Listing Date Information
Contract Status Change Date: 2013-08-23
Photos Change Timestamp: 2023-11-28T21:31:57Z
Price Change Timestamp: 2023-11-28T21:31:54Z
Listing Price Information
Previous List Price: 14000000.0
Around this home
Schools
Forest View Elementary
Public PreK-5 • Assigned • 0.1mi
6/10
Sherwood Githens Middle
Public 6-8 • Assigned • 3.1mi
8/10
Charles E Jordan Senior High School
Public 9-12 • Assigned • 4.9mi
4/10
Provided by GreatSchools
Lifestyle
Provided by Walk Score and Local Logic
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
3/10 Fire Factor
0.15% chance of being in a wildfire in next 30 years
6/10 Heat Factor
7 days above 106° expected this year, 17 days in 30 years
6/10 Wind Factor
27% chance of strong winds in next 30 years
2/10 Air Factor
1 unhealthy days expected this year, 1 days in 30 years
Provided by First Street
Historical weather
Durham, NC • 27705
Average low and high temperatures (°F)
47
29
53
34
69
45
76
53
78
58
89
68
90
73
83
68
79
63
71
51
64
44
52
34
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
In this area, properties receive around 9 hours in
June and 5.1 hours in December, which is comparable to the
U.S. average for solar exposure.