Southern Pines Duplex Investment
264 E Indiana Avenue Southern Pines, NC 28387
264 E Indiana Avenue, Southern Pines, NC, 28387
$575,000
For Sale
$575,000
MULTI_FAMILY - Other - Southern Pines, NC
Property Size2,471 SF
Price / SF$232.70
Days on Market403
Property Features for 264 E Indiana Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Single Family Residence
- Bedrooms
- 5
- Bathrooms
- 3
- Rooms
- Bathroom 1, Bedroom 5, Bedroom 1, Bedroom 3, Bathroom 2, Bathroom 3, Bedroom 4, Laundry Room, Bedroom 2, Family Room, Dining Room
- Interior features
- BreakfastBar, CeilingFans, LivingDiningRoom, SeparateShower, TubShower
- Exterior features
- Fence
- Fencing
- Fenced
- Appliances
- Dishwasher, ElectricRange, GasRange, Oven, Refrigerator, StainlessSteelAppliances, WaterHeater
- Standard status
- Active
- APN
- 00031167
- Size
- 2,471 SF
Taxes and HOA fees
- Tax Description
- BLK O 2 LOT 4 5 PART ALLEY
Utilities
- Sewer type
- Public Sewer
- Heating system
- Heat Pump (Heating)
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1955
- Flooring type
- Tile, Wood
- Building materials
- BrickVeneer
- Architectural style
- Other
Listing Agency
EVERYTHING PINES PARTNERS LLC
(910) 725-1176
180 E CONNECTICUT AVENUE, SOUTHERN PINES, NC
Listed by
KELLIE ADAMS · License #280807
(910) 639-5050
Added: Jun 9, 2025 Checked: Jul 16 at 6:06 pm
MLS# 745203
Listing URL
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 in Southern Pines presents an investment opportunity, with both units currently leased. One unit, designated as 268, features 2 bedrooms and 1 bathroom, with wood floors and a kitchen. It also includes a fenced backyard area. The other unit, 264, offers 3 bedrooms and 2 bathrooms, showcasing updates including a remodeled kitchen with updated appliances that flows into an open-concept living and dining area. Wood floors extend throughout this unit, which also benefits from a newer roof and HVAC system. A privacy fence separates the units, and the 264 side includes a storage shed and fire pit area. The property is located minutes from downtown Southern Pines, providing access to local shops, dining, and entertainment. The property size is 2471 square feet.
Key Highlights
- Duplex with both sides currently under lease
- 2‑bedroom, 1‑bath 268 side with wood floors and fenced backyard area
- 3‑bedroom, 2‑bath 264 side with remodeled kitchen and updated appliances
Local Financial Insights For Multifamily LT 5
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 | $35.3k | $14.28 |
| − Vacancy | −$1.5k | −$0.62 |
| EGI | $33.7k | $13.66 |
| − OpEx | −$10.1k | −$4.10 |
| NOI | $23.6k | $9.56 |
2,471 SF · lease $14.28/SF/yr · vacancy 4.37% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$337.4K
$295.3K – $393.7K
NOI $23,621 @ 7.0% cap · market cap 4.11%
Second Best
Apartment 5plus
$311.2K
$272.3K – $363.0K
NOI $21,782 @ 7.0% cap · market cap 3.79%
Theoretical Best
Specialty Retail
$470.8K
$412.0K – $549.3K
NOI $32,959 @ 7.0% cap · market cap 5.73%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Charming duplex in Southern Pines with updated units and leases.
Where is this duplex located?
The property is located at 264 E Indiana Avenue Southern Pines, NC.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Duplex with both sides currently under lease; 2‑bedroom, 1‑bath 268 side with wood floors and fenced backyard area; 3‑bedroom, 2‑bath 264 side with remodeled kitchen and updated appliances
