242 W Academy Street Wendell, NC 27591
MULTI_FAMILY - Wendell, NC
- Added:
- Mar 6, 2026
- Days on Market:
- 130
- Last Refresh:
- Jul 14 at 4:06 am
Property Features for 242 W Academy Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- NC
- Standard status
- Active
- APN
- 0070924
- Size
- 3,632 SF
- Lot size
- 0.45 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- Lopt 242 W Academy Street
Utilities
- Utilities
- Natural Gas Available
- Heating system
- Natural Gas, Electric (Heating)
- Water source
- Public
Building Details
- Year built
- 1915
Listing agent Amanda Rivera License #200524 (919) 656-7446
Listing office Five County Realty 3169 Wendell Blvd, Wendell, NC (919) 656-7446
Listing date Mar 6, 2026
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.
The property fronts three separate roads: Wendell Blvd, Marshburn Rd, and Academy St. Each building has its own address, including 242 W Academy and 3169 Wendell Blvd.
The first building is currently zoned residential, with the information provided noting it can be converted to commercial. The second building is listed as an office/retail single tenant space.
Key Highlights
- Fronts 3 separate roads in Downtown Wendell: Wendell Blvd, Marshburn Rd, and Academy St
- Multiple addresses/buildings: 242 W Academy and 3169 Wendell Blvd, each with separate power and utilities
- 2000 SF fully renovated historic home (VRBO): separate listing and has produced about $45k/year in rent over 8 years
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $89.3k | $24.60 |
| − Vacancy | −$15.0k | −$4.13 |
| EGI | $74.3k | $20.47 |
| − OpEx | −$18.6k | −$5.12 |
| NOI | $55.8k | $15.35 |
