Four-Unit Residential Income
New
For Sale
$499,000
108 Ravenwood Drive, Jacksonville, NC 28546
Residential Income, Jacksonville, NC
Property Size3,000 SF
Lot Size0.15 Acres
Price / SF$166.33
Days on Market3
Property Features for 108 Ravenwood Drive
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
Rmf-Hd
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bedroom 3, Bathroom 1, Bedroom 6, Bedroom 8, Bathroom 4, Bedroom 4, Bathroom 3, Bedroom 7, Bedroom 1, Bathroom 2, Bedroom 5
Parking
4
Patio and Porch features
Patio
Exterior features
Balcony
Appliances
Electric Oven, Refrigerator, Dishwasher
Subdivision
Ravenwood
Elementary school
Bell Fork
Middle school
Jacksonville Commons
High school
Northside
High school district
Onslow
Directions
Hwy 24 to Western Blvd to Liberty Dr. Right onto Ravenwood Dr. Units will be on your right.
Standard status
Active
APN
352b-28.9
Size
3,000 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
L10 RAVENWOOD APARTMENTS S/F 352B 28
Tax Annual Amount
5026
HOA Fee
$3,000 Annually
Legal Description
L10 RAVENWOOD APARTMENTS S/F 352B 28
Utilities
Heating system
Heat Pump (Heating), Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1984
Floors in Building
2
Number of units
4
Flooring type
Lvt/lvp
Building materials
Brick Veneer, Vinyl Siding, Wood Frame
Roof type
Shingle
Listing Agency:
Keller Williams Realty
(252) 637-2010
Listed By:
Daniel Page Muse · License #313280
(252) 670-7203
Added: Sep 30
Last Checked: Oct 2 at 3:06AM
MLS# 100607194
Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This Jacksonville residential income property contains four apartments, each with two bedrooms and one bathroom. The building totals 3,000 square feet on a 0.15-acre lot and was constructed in 1984. Brick veneer, vinyl siding, and wood-frame construction are complemented by balconies and a patio. Interior and building features include LVT/LVP flooring, central air, electric heat pump heating, and a shingle roof.
All four units are currently leased. The property is located near Camp Lejeune, along with shopping, dining, services, and major employment centers in Jacksonville. Public water serves the property.
All four units are currently leased. The property is located near Camp Lejeune, along with shopping, dining, services, and major employment centers in Jacksonville. Public water serves the property.
Key Highlights
- Four currently leased apartments, each configured with 2 bedrooms and 1 bathroom
- 3,000 square feet of building area on a 0.15‑acre lot
- Built in 1984 with brick veneer, vinyl siding, and wood‑frame construction
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
$30,004
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
6.01%
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%
$600,080
$600.1K
Cap Rate 7%
$428,629
$428.6K
Cap Rate 9%
$333,378
$333.4K
Market Conditions
NOI Build-Up for 3,000 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
$45.0K $15.00/SF
− Vacancy
−$2.1K −$0.71/SF
EGI
$42.9K $14.29/SF
− OpEx
−$12.9K −$4.29/SF
NOI
$30.0K $10.00/SF
Area
Onslow County, NC
Vacancy
4.75%
Lease Rate
$15.00 /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%
$600,080
Cap Rate 7%
$428,629
Cap Rate 9%
$333,378
Alternative Uses
Best Use
Multifamily LT 5
$428.6K
$375.1K – $500.1K
NOI $30,004 @ 7.0% cap · market cap 6.01%
Second Best
Apartment 5plus
$389.6K
$340.9K – $454.6K
NOI $27,275 @ 7.0% cap · market cap 5.47%
Theoretical Best
Office A
$651.7K
$570.2K – $760.3K
NOI $45,619 @ 7.0% cap · market cap 9.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
509
Businesses Nearby
Explore this area
Business Placement
Demographics for 28546, NC
48,547
Population
21,387
Households
2.3
Avg Household Size
30
Median Age
25%
College-Educated
95%
High-School Grad
103.9 sq mi
ZIP Area
467
Density / Sq Mi
$60,552
Median Household Income
$39,487
Median Earnings
$1,174
Median Rent
$212,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four leased two-bedroom apartments provide an occupied rental configuration in Jacksonville.
Where is this quadplex located?
The property is located at 108 Ravenwood Drive Jacksonville, NC.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Four currently leased apartments, each configured with 2 bedrooms and 1 bathroom; 3,000 square feet of building area on a 0.15‑acre lot; Built in 1984 with brick veneer, vinyl siding, and wood‑frame construction
