Buxton Multi-Unit Income
For Sale
Under Contract
$759,000
47344 Rocky Rollinson Road lot 1, Buxton, NC 27920
MULTI_FAMILY - Buxton, NC
Property Size2,494 SF
Lot Size0.71 Acres
Price / SF$304.33
Days on Market196
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
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 2, Bedroom 4, Bedroom 5, Bathroom 3, Bathroom 2, Bathroom 1, Bedroom 1
Parking features
Off Street, Paved or Surfaced
Interior features
All Window Treatments, Cathedral Ceiling(s), Pantry
Appliances
Dishwasher, Dryer, Microwave, Range/Oven, Refrigerator w/Ice Maker, Washer
Lot features
Bulkheaded, Easement(s), Level, Water Frontage
Directions
S Hwy 12, Right on Rocky Rollinson Road, Property is on the left about mid way.
Subdivision
Buxton Soundside
Standard status
Active Under Contract
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, Heat Pump (Heating), Electric (Heating), Central
Cooling system
Heat Pump, Central Air
Water front
1
Building Details
Year built
2006
Flooring type
Carpet, Laminate
Building materials
Frame, Wood
Roof type
Shingle
Architectural style
Bungalow, Cottage, Other
Listing Agency:
Midgett Realty - Avon
(252) 995-5333
Listed By:
Liz Midgett · License #221798
(252) 996-0016
Added: Jan 17
Changed: Jul 28
Last Checked: Aug 1 at 1:06PM
MLS# 131536
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.
Investment Insights
Based on property information with market context.
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.
Key Highlights
- 3‑unit multiplex with Unit A, Unit B (each 3 bed/1 bath) and Unit C (Captain's Quarter) configuration
- Built in 2006 with bungalow/cottage architectural style
- Shared sun deck overlooking the canal for all three units
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 | $55.4k | $22.20 |
| − Vacancy | −$2.8k | −$1.11 |
| EGI | $52.6k | $21.09 |
| − OpEx | −$15.8k | −$6.33 |
| NOI | $36.8k | $14.76 |
2,494 SF · lease $22.20/SF/yr · vacancy 5.00% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$526.0K
$460.2K – $613.7K
NOI $36,819 @ 7.0% cap · market cap 4.85%
Second Best
Apartment 5plus
$487.3K
$426.4K – $568.5K
NOI $34,112 @ 7.0% cap · market cap 4.49%
Theoretical Best
Office A
$602.0K
$526.7K – $702.3K
NOI $42,139 @ 7.0% cap · market cap 5.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
79
Businesses Nearby
Explore this area
Business Placement
Demographics for 27920, NC
1,181
Population
995
Households
1.2
Avg Household Size
52
Median Age
26%
College-Educated
95%
High-School Grad
7.8 sq mi
ZIP Area
151
Density / Sq Mi
$67,054
Median Household Income
$36,576
Median Earnings
$1,295
Median Rent
$385,400
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?
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: 3‑unit multiplex with Unit A, Unit B (each 3 bed/1 bath) and Unit C (Captain's Quarter) configuration; Built in 2006 with bungalow/cottage architectural style; Shared sun deck overlooking the canal for all three units
