Quadplex with Central
For Sale
$195,000
512 S King Street, Fayetteville, NC 28301
MULTI_FAMILY - Fayetteville, NC
Property Size1,130 SF
Lot Size0.21 Acres
Price / SF$172.57
Days on Market165
Property Features for 512 S King Street
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning
MR5
Bedrooms
3
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1, Bathroom 1, Bedroom 2, Bedroom 3
Subdivision
King
Standard status
Active
APN
0447004060000
Size
1,130 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Imp 512 W/S S King St
Tax Annual Amount
1648
Legal Description
Imp 512 W/S S King St
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1935
Floors in Building
1
Number of units
4
Flooring type
Vinyl
Building materials
Vinyl Siding
Listing Agency:
EXP Realty LLC
(888) 584-9431
Listed By:
ALEJANDRA QUINTANILLA AGUILUZ
(919) 862-3292
Added: Feb 28
Changed: Aug 11
Last Checked: Aug 12 at 12:06PM
MLS# 10154930
Copyright © 2026 Doorify 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 at 512 S King Street offers a compact residential setup with vinyl siding and vinyl flooring throughout. The home is heated with central heating and cooled with central air, serviced by public water and public sewer. Built in 1935, the property includes three bedrooms and one bathroom based on the provided room configuration.
The property sits on a 0.21-acre lot and totals 1,130 square feet. It is zoned MR5, supporting multi-unit residential use under the listed land-use designation. With public utilities in place, the configuration may fit buyers looking for an owner-occupied or investment-oriented residential property.
If you’re evaluating a small-footprint quadplex, the combination of central HVAC and the MR5 zoning designation can be useful for planning tenant-ready updates and day-to-day operations within a single, centrally served building.
The property sits on a 0.21-acre lot and totals 1,130 square feet. It is zoned MR5, supporting multi-unit residential use under the listed land-use designation. With public utilities in place, the configuration may fit buyers looking for an owner-occupied or investment-oriented residential property.
If you’re evaluating a small-footprint quadplex, the combination of central HVAC and the MR5 zoning designation can be useful for planning tenant-ready updates and day-to-day operations within a single, centrally served building.
Key Highlights
- Zoned MR5 for multi‑unit residential use
- 0.21‑acre lot
- 1,130 SF quadplex
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
$10,314
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
5.29%
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%
$206,280
$206.3K
Cap Rate 7%
$147,343
$147.3K
Cap Rate 9%
$114,600
$114.6K
Market Conditions
NOI Build-Up for 1,130 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
$15.6K $13.80/SF
− Vacancy
−$859 −$0.76/SF
EGI
$14.7K $13.04/SF
− OpEx
−$4.4K −$3.91/SF
NOI
$10.3K $9.13/SF
Area
Fayetteville, NC
Vacancy
5.51%
Lease Rate
$13.80 /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%
$206,280
Cap Rate 7%
$147,343
Cap Rate 9%
$114,600
Alternative Uses
Best Use
Multifamily LT 5
$147.3K
$128.9K – $171.9K
NOI $10,314 @ 7.0% cap · market cap 5.29%
Second Best
Apartment 5plus
$135.5K
$118.6K – $158.1K
NOI $9,484 @ 7.0% cap · market cap 4.86%
Theoretical Best
Office A
$247.6K
$216.7K – $288.9K
NOI $17,335 @ 7.0% cap · market cap 8.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
552
Businesses Nearby
Explore this area
Business Placement
Demographics for 28301, NC
17,670
Population
8,590
Households
2.1
Avg Household Size
35
Median Age
17%
College-Educated
88%
High-School Grad
12.4 sq mi
ZIP Area
1,425
Density / Sq Mi
$36,955
Median Household Income
$28,350
Median Earnings
$926
Median Rent
$109,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Quadplex zoned MR5 featuring central heating and central air, with public water and public sewer services.
Where is this quadplex located?
The property is located at 512 S King Street Fayetteville, NC.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: Zoned MR5 for multi‑unit residential use; 0.21‑acre lot; 1,130 SF quadplex
