Renovated Triplex with Separate
New
For Sale
$224,900
203 Bruton Street NE, Wilson, NC 27893
Residential Income, Wilson, NC
Property Size2,460 SF
Lot Size0.14 Acres
Price / SF$91.42
Days on Market4
Property Features for 203 Bruton Street NE
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 1, Bedroom 4, Bathroom 1, Bedroom 5, Bathroom 3, Bedroom 2, Bathroom 2
Parking
2
Parking features
Open, Off Street, Paved or Surfaced
Patio and Porch features
Porch
Interior features
Apartment/Suite, Bathtub/Shower Combination, Ceiling Fan(s), Crown Molding, Eat-in Kitchen, Recessed Lighting, Smooth Ceilings
Exterior features
Balcony, Private Yard, Rain Gutters
Appliances
Electric Range, Electric Water Heater, Free-Standing Electric Range, Free-Standing Range, Free-Standing Refrigerator, Range, Range Hood, Refrigerator, Water Heater
Subdivision
Not in a Subdivision
Lot features
Back Yard, Level
Elementary school
Wilson - Margaret Hearne Elementary
Middle school
Wilson - Charles H Darden Middle
High school
Wilson - Fike High
Standard status
Active
APN
3722122319000
Size
2,460 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
203 Bruton St W 1.00Lt
Tax Annual Amount
1349
Legal Description
203 Bruton St W 1.00Lt
Utilities
Sewer type
Public Sewer
Heating system
Radiant, Baseboard, Electric (Heating)
Cooling system
Window Unit(s), Electric, Wall Unit(s), Wall/Window Unit(s), Ceiling Fan(s)
Water source
Public
Building Details
Year built
1924
Floors in Building
2
Number of units
3
Flooring type
Wood, Plank, Vinyl
Building materials
Board & Batten Siding, HardiPlank Type, Shake Siding, Vertical Siding
Roof type
Shingle
Listing Agency:
Isaacs Realty LLC
(919) 847-4133
Listed By:
Chris Isaacs · License #225559
(919) 255-8713
Added: Sep 8
Last Checked: Sep 11 at 7:06AM
MLS# 10191283
Copyright © 2026 Doorify 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 2,460-square-foot triplex includes three rent-ready apartments with refreshed interiors. Improvements include updated flooring, renovated kitchens and bathrooms, and new interior paint. Individual electricity and water meters serve each unit. Apartment features include eat-in kitchens, crown molding, recessed lighting, smooth ceilings, and a mix of wood and vinyl flooring. Exterior amenities include a balcony, private yard, porch, rain gutters, and paved off-street parking.
The property occupies 0.14 acres at 203 Bruton Street NE in Wilson, North Carolina. It is located less than a mile from Barton College and Wilson’s professional baseball ballpark. Public water and public sewer serve the property. Built in 1924, the building has shingle roofing, board-and-batten and HardiPlank-type siding, electric heating, and wall or window-unit cooling.
The property occupies 0.14 acres at 203 Bruton Street NE in Wilson, North Carolina. It is located less than a mile from Barton College and Wilson’s professional baseball ballpark. Public water and public sewer serve the property. Built in 1924, the building has shingle roofing, board-and-batten and HardiPlank-type siding, electric heating, and wall or window-unit cooling.
Key Highlights
- Three‑unit multifamily property with 2,460 square feet
- Each apartment is separately metered for electricity and water
- Renovated kitchens and bathrooms, updated flooring, and fresh interior paint
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
$20,070
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
8.92%
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%
$401,400
$401.4K
Cap Rate 7%
$286,714
$286.7K
Cap Rate 9%
$223,000
$223.0K
Market Conditions
NOI Build-Up for 2,460 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
$31.0K $12.60/SF
− Vacancy
−$2.3K −$0.95/SF
EGI
$28.7K $11.66/SF
− OpEx
−$8.6K −$3.50/SF
NOI
$20.1K $8.16/SF
Area
Wilson County, NC
Vacancy
7.50%
Lease Rate
$12.60 /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%
$401,400
Cap Rate 7%
$286,714
Cap Rate 9%
$223,000
Alternative Uses
Best Use
Multifamily LT 5
$286.7K
$250.9K – $334.5K
NOI $20,070 @ 7.0% cap · market cap 8.92%
Second Best
Apartment 5plus
$265.3K
$232.2K – $309.5K
NOI $18,572 @ 7.0% cap · market cap 8.26%
Theoretical Best
Office A
$590.4K
$516.6K – $688.8K
NOI $41,330 @ 7.0% cap · market cap 18.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
785
Businesses Nearby
Explore this area
Business Placement
Demographics for 27893, NC
37,131
Population
18,383
Households
2
Avg Household Size
41
Median Age
15%
College-Educated
79%
High-School Grad
109.0 sq mi
ZIP Area
341
Density / Sq Mi
$40,180
Median Household Income
$31,197
Median Earnings
$894
Median Rent
$153,000
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?
Triplex - Three refreshed apartments near Barton College feature updated kitchens, baths, flooring, and interior finishes.
Where is this triplex located?
The property is located at 203 Bruton Street NE Wilson, NC.
What is the asking price?
The asking price for this property is $224,900.
What are key features of this property?
This property features: Three‑unit multifamily property with 2,460 square feet; Each apartment is separately metered for electricity and water; Renovated kitchens and bathrooms, updated flooring, and fresh interior paint
