Duplex with Central
For Sale
$449,000
215 N Sellers Street, Selma, NC 27576
Residential Income, Selma, NC
Property Size2,550 SF
Lot Size0.18 Acres
Price / SF$176.08
Days on Market74
Property Features for 215 N Sellers Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
5
Full bathrooms
4
Half bathrooms
2
Rooms
Bedroom 1, Bathroom 5, Bathroom 2, Bedroom 6, Bathroom 3, Bedroom 5, Bathroom 4, Bathroom 6, Bedroom 2, Bathroom 1, Bedroom 4, Bedroom 3
Subdivision
To Be Added
Elementary school
Johnston - Selma Elementary
Middle school
Johnston - Selma Middle School
High school
Johnston - Smithfield Selma High
Standard status
Active
APN
261518-40-2673
Size
2,550 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
66/256
Tax Annual Amount
3940
Legal Description
66/256
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Building Details
Year built
2022
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Carpet
Building materials
HardiPlank Type
Roof type
Shingle
Listing Agency:
Next Stage Realty
(919) 533-9797
Listed By:
Chris Murphy · License #293540
(781) 724-7223
Added: Jun 8
Changed: Aug 19
Last Checked: Aug 20 at 3:06PM
MLS# 10172625
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 2022-built duplex is designed as a two-unit property, with each side offering approximately 1,255 square feet. Each side features three bedrooms and 2.5 baths, providing a practical layout for residential income use. The building is constructed with HardiPlank Type exterior materials and a shingle roof, with interiors finished using carpet and vinyl flooring. Central air is provided for heating and cooling.
The property sits on a 0.18-acre lot and is served by public water and public sewer. The listing notes that this duplex is one of multiple duplexes available by the same seller, with an option to purchase individually or as part of a broader set.
Each building is sold as a building and consists of two units per building, supporting straightforward ownership and management for an income-focused buyer.
The property sits on a 0.18-acre lot and is served by public water and public sewer. The listing notes that this duplex is one of multiple duplexes available by the same seller, with an option to purchase individually or as part of a broader set.
Each building is sold as a building and consists of two units per building, supporting straightforward ownership and management for an income-focused buyer.
Key Highlights
- 2022‑built duplex with two units per building
- Approximately 1,255 SF per side; total property size 2,550 SF
- Each side has three bedrooms and 2.5 baths
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
$25,986
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
5.79%
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%
$519,720
$519.7K
Cap Rate 7%
$371,229
$371.2K
Cap Rate 9%
$288,733
$288.7K
Market Conditions
NOI Build-Up for 2,550 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
$39.2K $15.36/SF
− Vacancy
−$2.0K −$0.80/SF
EGI
$37.1K $14.56/SF
− OpEx
−$11.1K −$4.37/SF
NOI
$26.0K $10.19/SF
Area
Johnston County, NC
Vacancy
5.22%
Lease Rate
$15.36 /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%
$519,720
Cap Rate 7%
$371,229
Cap Rate 9%
$288,733
Alternative Uses
Best Use
Multifamily LT 5
$371.2K
$324.8K – $433.1K
NOI $25,986 @ 7.0% cap · market cap 5.79%
Second Best
Apartment 5plus
$320.4K
$280.3K – $373.8K
NOI $22,425 @ 7.0% cap · market cap 4.99%
Theoretical Best
Office A
$771.4K
$675.0K – $900.0K
NOI $54,000 @ 7.0% cap · market cap 12.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
324
Businesses Nearby
Explore this area
Business Placement
Demographics for 27576, NC
17,568
Population
7,911
Households
2.2
Avg Household Size
37
Median Age
18%
College-Educated
84%
High-School Grad
81.3 sq mi
ZIP Area
216
Density / Sq Mi
$62,044
Median Household Income
$39,262
Median Earnings
$874
Median Rent
$178,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Each side offers three bedrooms and two and a half baths with central air, supported by public water and sewer.
Where is this duplex located?
The property is located at 215 N Sellers Street Selma, NC.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: 2022‑built duplex with two units per building; Approximately 1,255 SF per side; total property size 2,550 SF; Each side has three bedrooms and 2.5 baths
