Updated Duplex with Occupied
New
For Sale
$215,000
2311 Nickey Avenue, Fayetteville, NC 28301
Residential, Fayetteville, NC
Property Size1,270 SF
Lot Size0.17 Acres
Price / SF$169.29
Days on Market3
Property Features for 2311 Nickey Avenue
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bedroom 4, Bedroom 2, Bedroom 3, Bathroom 1
Subdivision
BROAD ACRES
Lot features
Less Than Quarter Acre
Middle school
Nick Jeralds Middle School
High school
E. E. Smith High
Directions
GPS Friendly
Standard status
Active
APN
0428-87-8108
Size
1,270 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Description
Dup Lt 54 Macks Park Blk B
Legal Description
Dup Lt 54 Macks Park Blk B
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Building Details
Year built
1963
Flooring type
Vinyl
Building materials
VinylSiding
Architectural style
Other
Listing Agency:
EXP REALTY LLC
(888) 584-9431
Listed By:
ANNA-LISA ROWLETTE · License #329133
(919) 725-3898
Added: Aug 21
Last Checked: Aug 23 at 4:06PM
MLS# 768121
Copyright © 2026 Longleaf Pine Realtors. 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 duplex contains two 2-bedroom, 1-bathroom residences within a 1,270-square-foot property on a 0.17-acre lot. Both units are occupied and include a front living room, kitchen, two bedrooms, and a renovated bathroom. Recent improvements include flooring, paint, appliances, cabinets, and bathroom updates, with vinyl flooring throughout and no carpet reported.
Built in 1963, the property has vinyl siding, central air, public water, and public sewer. Its Fayetteville location is identified as close to shopping, dining, and everyday conveniences. The two-unit configuration and existing occupancy provide a straightforward residential income property profile.
Built in 1963, the property has vinyl siding, central air, public water, and public sewer. Its Fayetteville location is identified as close to shopping, dining, and everyday conveniences. The two-unit configuration and existing occupancy provide a straightforward residential income property profile.
Key Highlights
- Two 2‑bedroom, 1‑bathroom units
- Both units currently occupied
- 1,270 square feet on a 0.17‑acre lot
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
$11,592
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
5.39%
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%
$231,840
$231.8K
Cap Rate 7%
$165,600
$165.6K
Cap Rate 9%
$128,800
$128.8K
Market Conditions
NOI Build-Up for 1,270 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
$17.5K $13.80/SF
− Vacancy
−$966 −$0.76/SF
EGI
$16.6K $13.04/SF
− OpEx
−$5.0K −$3.91/SF
NOI
$11.6K $9.13/SF
Area
Fayetteville, NC
Vacancy
5.51%
Lease Rate
$13.80 /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%
$231,840
Cap Rate 7%
$165,600
Cap Rate 9%
$128,800
Alternative Uses
Best Use
Multifamily LT 5
$165.6K
$144.9K – $193.2K
NOI $11,592 @ 7.0% cap · market cap 5.39%
Second Best
Apartment 5plus
$152.3K
$133.2K – $177.7K
NOI $10,659 @ 7.0% cap · market cap 4.96%
Theoretical Best
Office A
$278.3K
$243.5K – $324.7K
NOI $19,483 @ 7.0% cap · market cap 9.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
208
Businesses Nearby
Explore this area
Business Placement
Demographics for 28301, NC
17,670
Population
8,590
Households
2.1
Avg Household Size
35
Median Age
17%
College-Educated
88%
High-School Grad
12.4 sq mi
ZIP Area
1,425
Density / Sq Mi
$36,955
Median Household Income
$28,350
Median Earnings
$926
Median Rent
$109,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two refreshed rental units feature neutral finishes, vinyl flooring, central air, and public utilities.
Where is this duplex located?
The property is located at 2311 Nickey Avenue Fayetteville, NC.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bathroom units; Both units currently occupied; 1,270 square feet on a 0.17‑acre lot
