Two-Unit Duplex
For Sale
$260,000
313 W Lewis Street, Whiteville, NC 28472
Residential Income, Whiteville, NC
Property Size2,105 SF
Lot Size0.18 Acres
Price / SF$123.52
Days on Market101
Property Features for 313 W Lewis Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
X
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bedroom 4, Bedroom 2, Bedroom 3, Bathroom 1
Parking features
Paved or Surfaced
Patio and Porch features
Porch
Interior features
Ceiling Fan(s), Blinds/Shades
Appliances
Refrigerator
Subdivision
Not In Subdivision
Elementary school
Whiteville Primary School
Middle school
Central Middle School
High school
Whiteville High School
Directions
when heading from leland area take 701 to whieteville, Take exit 241 onto N JK Powell Blvd, about a mile and half turn right onto W Lewis St, property is on the left
Standard status
Active
APN
0281.04-70-7885.000
Size
2,105 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1099
Utilities
Heating system
Electric (Heating), Heat Pump (Heating)
Cooling system
Central Air, Ceiling Fan(s)
Water source
Public
Building Details
Year built
1937
Floors in Building
2
Number of units
2
Flooring type
Tile - Ceramic
Building materials
Vinyl Siding, Wood Frame
Roof type
Shingle
Listing Agency:
Keller Williams Innovate-Wilmington · Keller Williams Realty
(910) 777-2200
Listed By:
Brandy Creech · License #336987
(910) 540-4569
Added: Jun 18
Changed: Sep 12
Last Checked: Sep 26 at 5:06AM
MLS# 100582549
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.
Built in 1937, this 2,105-square-foot duplex contains two separate residences, each arranged over two levels with two bedrooms, one bathroom, and living areas on both floors. The property sits on a 0.1774-acre lot and includes vinyl siding, a shingle roof, ceramic tile flooring, blinds or shades, ceiling fans, and a refrigerator. Central air and electric heat-pump service support interior comfort, while public water serves the property.
Additional site features include paved or surfaced parking and a porch. The property is located at 313 W Lewis Street in Whiteville, NC 28472, within Columbus County. Zoning is identified as X.
Additional site features include paved or surfaced parking and a porch. The property is located at 313 W Lewis Street in Whiteville, NC 28472, within Columbus County. Zoning is identified as X.
Key Highlights
- Two‑unit duplex with 2,105 square feet of property area
- Each residence includes 2 bedrooms, 1 bathroom, and living areas on both floors
- 0.1774‑acre lot at 313 W Lewis Street, Whiteville, NC 28472
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
$18,766
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
7.22%
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%
$375,320
$375.3K
Cap Rate 7%
$268,086
$268.1K
Cap Rate 9%
$208,511
$208.5K
Market Conditions
NOI Build-Up for 2,105 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
$28.5K $13.56/SF
− Vacancy
−$1.7K −$0.82/SF
EGI
$26.8K $12.74/SF
− OpEx
−$8.0K −$3.82/SF
NOI
$18.8K $8.91/SF
Area
Columbus County, NC
Vacancy
6.08%
Lease Rate
$13.56 /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%
$375,320
Cap Rate 7%
$268,086
Cap Rate 9%
$208,511
Alternative Uses
Best Use
Multifamily LT 5
$268.1K
$234.6K – $312.8K
NOI $18,766 @ 7.0% cap · market cap 7.22%
Second Best
Apartment 5plus
$237.8K
$208.1K – $277.4K
NOI $16,645 @ 7.0% cap · market cap 6.40%
Theoretical Best
Office A
$510.6K
$446.8K – $595.7K
NOI $35,744 @ 7.0% cap · market cap 13.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
411
Businesses Nearby
Explore this area
Business Placement
Demographics for 28472, NC
17,308
Population
8,073
Households
2.1
Avg Household Size
44
Median Age
18%
College-Educated
91%
High-School Grad
197.9 sq mi
ZIP Area
87
Density / Sq Mi
$48,963
Median Household Income
$36,535
Median Earnings
$788
Median Rent
$141,000
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two individually arranged residences provide living space across both levels.
Where is this duplex located?
The property is located at 313 W Lewis Street Whiteville, NC.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,105 square feet of property area; Each residence includes 2 bedrooms, 1 bathroom, and living areas on both floors; 0.1774‑acre lot at 313 W Lewis Street, Whiteville, NC 28472
