Quadplex with
For Sale
$375,000
Pending
3702 Chase Road NW, Wilson, NC 27896
Residential Income, Wilson, NC
Property Size3,862 SF
Lot Size0.40 Acres
Days on Market29
Property Features for 3702 Chase Road NW
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
GR6
Bedrooms
8
Bathrooms
6
Full bathrooms
4
Half bathrooms
4
Rooms
Bedroom 3, Bedroom 6, Bathroom 2, Bedroom 7, Bathroom 6, Bedroom 1, Bedroom 4, Bedroom 5, Bathroom 7, Bathroom 8, Bathroom 5, Bedroom 2, Bathroom 1, Bedroom 8, Bathroom 4, Bathroom 3
Patio and Porch features
Patio
Interior features
Eat-in Kitchen
Subdivision
Hope Park
Elementary school
Jones
Middle school
Forest Hills
High school
Hunt
Directions
Nash Street to left on Airport Blvd, right on Chase Road, property on right.
Standard status
Pending
APN
3713-04-3360.000
Size
3,862 SF
Lot size
0.40 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
L23S2 HOPE PK 1.00LT
Tax Annual Amount
2679
Legal Description
L23S2 HOPE PK 1.00LT
Utilities
Heating system
Electric (Heating), Forced Air
Cooling system
Central Air
Building Details
Year built
1984
Floors in Building
2
Number of units
4
Building materials
Vinyl Siding, Wood Frame
Roof type
Composition
Listing Agency:
Chesson Agency, eXp Realty
(252) 291-3600
Listed By:
Chuck Williamson · License #270840
(252) 205-6146
Added: Aug 11
Changed: Sep 8
Last Checked: Sep 8 at 8:06AM
MLS# 100595703
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.
This quadplex contains four residential units within a 3,862-square-foot property built in 1984. The building includes eight bedrooms and eight bathrooms, with an eat-in kitchen and patio among the documented features. Vinyl siding, wood-frame construction, and a composition roof define the exterior, while electric forced-air heating and central air provide the primary mechanical systems.
The property occupies 0.4 acres at 3702 Chase Road NW in Wilson, North Carolina, within Wilson County. It carries GR6 zoning and is identified in the Hope Park area. The residential configuration and existing unit count establish the property as a multifamily asset.
The property occupies 0.4 acres at 3702 Chase Road NW in Wilson, North Carolina, within Wilson County. It carries GR6 zoning and is identified in the Hope Park area. The residential configuration and existing unit count establish the property as a multifamily asset.
Key Highlights
- Four‑unit multifamily property with 3,862 square feet
- Eight bedrooms and eight bathrooms
- Built in 1984 on 0.4 acres
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
$31,508
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
8.40%
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%
$630,160
$630.2K
Cap Rate 7%
$450,114
$450.1K
Cap Rate 9%
$350,089
$350.1K
Market Conditions
NOI Build-Up for 3,862 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
$48.7K $12.60/SF
− Vacancy
−$3.6K −$0.95/SF
EGI
$45.0K $11.66/SF
− OpEx
−$13.5K −$3.50/SF
NOI
$31.5K $8.16/SF
Area
Wilson County, NC
Vacancy
7.50%
Lease Rate
$12.60 /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%
$630,160
Cap Rate 7%
$450,114
Cap Rate 9%
$350,089
Alternative Uses
Best Use
Multifamily LT 5
$450.1K
$393.9K – $525.1K
NOI $31,508 @ 7.0% cap · market cap 8.40%
Second Best
Apartment 5plus
$416.5K
$364.5K – $486.0K
NOI $29,157 @ 7.0% cap · market cap 7.78%
Theoretical Best
Office A
$926.9K
$811.1K – $1.08M
NOI $64,885 @ 7.0% cap · market cap 17.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
237
Businesses Nearby
Explore this area
Business Placement
Demographics for 27896, NC
20,683
Population
8,496
Households
2.4
Avg Household Size
42
Median Age
34%
College-Educated
91%
High-School Grad
35.2 sq mi
ZIP Area
588
Density / Sq Mi
$67,893
Median Household Income
$44,339
Median Earnings
$1,093
Median Rent
$213,600
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?
Quadplex - Four-unit residential property with central air, forced-air heating, and an eat-in kitchen.
Where is this quadplex located?
The property is located at 3702 Chase Road NW Wilson, NC.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Four‑unit multifamily property with 3,862 square feet; Eight bedrooms and eight bathrooms; Built in 1984 on 0.4 acres
