Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Buxton Multi-Unit Income Property Title is generated by Realmo AI

    47344 Rocky Rollinson Road lot 1, Buxton, NC 27920

    View on Map
    Claim this Listing
    For Sale
    $759,000

    MULTI_FAMILY - Buxton, NC

    Property size:
    2,494 SF
    Lot size:
    0.71 Acres
    Price / SF:
    $304/SF
    Added:
    Jan 17, 2026
    Days on Market:
    124
    Last Refresh:
    May 21 at 10:06 pm

    Property Features for 47344 Rocky Rollinson Road lot 1

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    R-2A
    Bedrooms
    5
    Bathrooms
    3
    Rooms
    Bedroom 4, Bathroom 1, Bedroom 3, Bathroom 3, Bathroom 2, Bedroom 2, Bedroom 5, Bedroom 1
    Parking features
    Paved or Surfaced, Off Street
    Interior features
    All Window Treatments, Cathedral Ceiling(s), Pantry
    Appliances
    Dishwasher, Dryer, Microwave, Range/Oven, Refrigerator w/Ice Maker, Washer
    Standard status
    Active
    Size
    2,494 SF
    Lot size
    0.71 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    2563

    Utilities

    Heating system
    Forced Air, Electric (Heating), Central, Heat Pump (Heating)
    Cooling system
    Heat Pump, Central Air
    Water front
    1

    Building Details

    Year built
    2006
    Flooring type
    Laminate, Carpet
    Building materials
    Frame, Wood
    Roof type
    Shingle
    Architectural style
    Bungalow, Other, Cottage

    We can help!

    Listing Contact
    Liz Midgett
    Liz Midgett

    Listing agent Liz Midgett License #221798

    Listing office Midgett Realty - Avon 39432 NC-12, Hatteras, NC

    Listing date Jan 17, 2026

    MLS# 131536 Listing URL

    Copyright © 2026 Outer Banks Association of Realtors®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Strong Rental Income History: Enjoy a solid income stream with $63K net in 2024 and $43K in 2025.
    • Multi‑Unit Property: Three units offer flexibility.
    • Desirable Location: Central Buxton location; walk/bike to the ocean, shops, and restaurants; close to beach access.
    • Private Setting: Located away from Hwy 12 on a large lot.
    • Outdoor Living Spaces: Concrete under‑house shaded areas, private outdoor showers, and shared sundeck overlooking the canal.
    • Multi‑Use Potential: Suitable for primary residence with rental income or full rental property.

    Overview

    Located in Buxton, North Carolina, this multi-unit property presents a rare opportunity. The property features a three-unit multiplex situated in a private location. Units A and B are configured as three-bedroom, one-bathroom units. Both units include concrete under-house shaded areas suitable for outdoor living, along with private outdoor showers and storage rooms. The first level of each unit features an open living area, dining space, kitchen, laundry room, bathroom, and a king bedroom. The second level contains two additional bedrooms or bonus rooms. Unit C, known as the Captain's Quarter, offers a separate living space. The first-level entry leads to the laundry area, with stairs ascending to the open living space, kitchen, a large bedroom, and a full bathroom. All three units share a sun deck overlooking the canal. The property has a strong rental history, with owner net rent reaching $43,000 in 2025 and $63,000 in 2024. The property is located on a 0.71-acre lot. The property is zoned R-2A. The location is near the Atlantic Ocean, local eateries, shopping, and 4x4 beach access. The property offers potential for year-round income, with the option to occupy one unit as a primary dwelling while renting out the other two. The total property size is 2,494 square feet.
    Location Intelligence

    Current Use by Public Records

    Triplexes

    Map

    City
    Buxton
    County
    Dare
    State
    North Carolina
    Longitude
    -75.53123
    Latitude
    35.270017

    Nearby Similar for Sale

    • $399,000

      Prime Commercial Space on NC-12

      High-visibility commercial space in Buxton, NC, ideal for various ventures.
      47357 NC 12 Highway, Buxton, NC 27920
      View Details
    • $699,000
      2,978 SF

      Semi-Oceanfront Duplex at Cottages Cape

      Updated duplex with ocean views, rental potential, and modern amenities.
      46014 A&B Little Kinnakeet Circle, Buxton, NC 27920
      View Details
    • $699,000
      2,978 SF

      Semi-Oceanfront Duplex at Cape Hatteras

      Semi-oceanfront duplex with income potential and lighthouse views.
      46013 A&B Little Kinnakeet Circle, Buxton, NC 27920
      View Details
    • $505,000

      Waterfront Property in Buxton

      Commercial waterfront property with canal frontage, boat ramp, and basin.
      48962 NC 12 Highway, Buxton, NC 27920
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Three-unit multiplex in Buxton with strong rental history.
    Where is this multifamily property located?
    The property is located at 47344 Rocky Rollinson Road lot 1 Buxton, NC.
    What is the asking price?
    The asking price for this property is $759,000.
    What are key features of this property?
    This property features: Strong Rental Income History: Enjoy a solid income stream with $63K net in 2024 and $43K in 2025.; Multi‑Unit Property: Three units offer flexibility.; Desirable Location: Central Buxton location; walk/bike to the ocean, shops, and restaurants; close to beach access.
    (252) 996-0016
    We can help!
    Listing Contact
    Liz Midgett
    Liz Midgett
    Real Estate License ID: 221798
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    47344 Rocky Rollinson Road lot: 1, Buxton, NC 27920
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!