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    1222 National Ave New Bern, NC 28560

    View on Map
    Sponsored
    For Sale
    $647,500

    MULTI_FAMILY - New Bern, NC

    Property size:
    5,030 SF
    Lot size:
    0.18 Acres
    Days on Market:
    13
    Last Refresh:
    Mar 15 at 6:06 am

    Property Features for 1222 National Ave

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Security features
    Security Lighting
    Zoning
    Res-2 Family
    Rooms
    Bedroom 3, Bathroom 3, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 5, Bedroom 6, Bedroom 4, Bathroom 4, Bedroom 2
    Bedrooms
    6
    Bathrooms
    4
    APN
    8-005 -128
    Parking features
    Off Street
    Patio and Porch features
    Porch, Patio
    Interior features
    Vaulted Ceiling(s), High Ceilings, Wash/Dry Connect, Ceiling Fan(s), Pantry, Walk-in Shower, Blinds/Shades, Workshop
    Exterior features
    Mail on Site, Trash on Site
    Appliances
    Vented Exhaust Fan, Gas Oven, Washer, Refrigerator, Ice Maker, Dryer, Dishwasher
    Size
    5,030 SF
    Lot size
    0.18 Acres

    Utilities

    Utilities
    Water Available
    Heating system
    Passive Solar, Forced Air, Zoned, Heat Pump (Heating), Natural Gas, Solar (Heating)
    Cooling system
    Zoned, Central Air
    Water source
    Public

    Building Details

    Year built
    1920
    Floors in Building
    3
    Number of units
    2
    Flooring type
    Wood, Tile
    Building materials
    Brick
    Roof type
    Metal
    Additional Structures
    Workshop

    We can help!

    Listing Contact
    Tracy Dowling

    Homecoin.com (888) 400-2513

    Listing agent Tracy P Dowling (888) 400-2513 License #230926

    Listing date Mar 2, 2026

    MLS# 100471151

    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.

    Learn more

    Property Insight Report

    Overview

    Restored Duplex in Historic District

    This historically restored duplex offers elegant living and income potential. It can serve as a primary residence with rental income from the other unit, or as a fully income-producing property. Listed on the historic registry, the duplex is suitable for Airbnb, short-term, or long-term rentals, and can accommodate a large extended group. The property has undergone a complete renovation with upgraded, energy-efficient, and modern systems. The exterior is glazed brick, requiring no oiling or painting. The building is situated above the flood plain and 100-year mark. Side A, spanning 2000 square feet, features 2 full baths, 3 bedrooms off a 6-foot-wide hallway suitable as a work or play space, a parlor, dining room, kitchen, and a full-height basement. Side B, at 3500 square feet, includes a full walk-up 3rd floor with 10-foot-high cathedral ceilings, suitable for a studio, workroom, or additional living area, with preparation for a bathroom. The second floor of Side B has 3 bedrooms and 2 full baths. The ground floor includes a parlor, eat-in kitchen, and a sunroom. Both sides feature custom-made solid wood maple cabinetry in the bathrooms and kitchens. The property includes wheelchair-accessible showers with teak gratings on the ground floor, and washers and gas dryers on the second floor. Basements on both sides have interior and exterior access, large 6-foot-high windows, 9-foot ceilings, and refinished hardwood floors. A shared back garden includes a large patio, parking pad, finished gardens, and locked storage under the shared back porch. The deep, shaded front porch is shared between the two sides, with entry through a common vestibule and secure doors for each unit. The property is located close to downtown New Bern.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The Duplex Property Investment Company

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Bern
    County
    Craven
    State
    North Carolina
    Longitude
    -77.047685
    Latitude
    35.119183

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    FAQs

    What type of property is this?
    Duplex - Historically restored duplex suitable for living, rental, or Airbnb.
    Where is this duplex located?
    The property is located at 1222 National Ave New Bern, NC.
    What is the asking price?
    The asking price for this property is $647,500.
    What are key features of this property?
    This property features: - Income-producing duplex: Rent both units for investment.; - Historically restored with modern upgrades: Energy-efficient systems and low-maintenance exterior.; - Large living spaces: Side A (2000 sq ft) and Side B (3500 sq ft) with flexible layouts.
    (888) 400-2513
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1222 National Ave New Bern, NC 28560
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    We can help!
    Listing Contact
    Tracy Dowling
    Real Estate License ID: 230926
    (888) 400-2513
    Learn more
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