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    The Largest CRE Database in the US with Over 1 Million Listings

    609 Ragan Rd Oriental, NC 28571

    Sponsored
    For Sale
    $439,500

    MULTI_FAMILY - Oriental, NC

    Property size:
    2,000 SF
    Lot size:
    0.39 Acres
    Days on Market:
    6
    Last Refresh:
    Jan 28 at 9:06 am

    Property Features for 609 Ragan Rd

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Zoning
    R-2
    Rooms
    Bathroom 1, Bedroom 1, Bathroom 3, Bathroom 4, Bedroom 3, Bedroom 4, Bathroom 2, Bedroom 2
    Bedrooms
    4
    Bathrooms
    4
    APN
    J082-311-5-Th
    Parking
    2
    Parking features
    Garage, Off Street
    Patio and Porch features
    Patio
    Interior features
    Vaulted Ceiling(s), Wash/Dry Connect
    Exterior features
    Thermal Doors
    Appliances
    Vented Exhaust Fan, Electric Oven, Refrigerator, Dishwasher
    Size
    2,000 SF
    Lot size
    0.39 Acres

    Utilities

    Utilities
    Water Available
    Heating system
    Electric (Heating), Heat Pump (Heating)
    Cooling system
    Heat Pump
    Water source
    Public

    Building Details

    Year built
    1985
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Vinyl, Carpet, Lvt/lvp
    Building materials
    Vinyl Siding
    Roof type
    Shingle

    We can help!

    Listing Contact
    CHRIS MACHLE

    Tidewater Real Estate, Inc. (252) 249-9800

    Listing agent CHRIS MACHLE (252) 249-9800 License #125354

    Listing date Jan 23, 2026

    MLS# 100496330 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Oriental Duplex: Investor Opportunity

    This full duplex building, situated in the Village of Oriental on Ragan Road, presents an investment opportunity. The property features two single-story units, each with two bedrooms, two bathrooms, and a one-car garage. The building is located on approximately 0.39 acres. The residences share a party wall but are designed to convey a sense of separation. The units are mirror-reverse layouts of each other. Upon entry, a small foyer leads into a vaulted great room (15'4'' x 22'2'') with a fireplace, adjacent to an 8'11'' x 7'11'' galley kitchen. A side corridor provides access to the bedrooms, with the master bedroom (11'5'' x 13'11'') facing the backyard and including an ensuite bath. The front-facing guest bedroom measures 9' x 12'1'' and could serve as an office or media room. The backyard, accessible from the living room, features a private patio and an extended yard suitable for various activities. Each unit owns half of the property, offering the option to sell one unit in the future. The property is zoned R-2. The building has a total area of 2000 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Oriental
    County
    Pamlico
    State
    North Carolina
    Longitude
    -76.690959
    Latitude
    35.032149

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    FAQs

    What type of property is this?
    Duplex - Fully-occupied duplex in Oriental, NC, near town amenities.
    Where is this duplex located?
    The property is located at 609 Ragan Rd Oriental, NC.
    What is the asking price?
    The asking price for this property is $439,500.
    What are key features of this property?
    This property features: - Full duplex building in the Village of Oriental, offering a rare investment opportunity.; - Located on Ragan Road, within walking distance to the town's amenities.; - Each unit features **2 bedrooms, 2 bathrooms, and a 1-car garage.**
    (252) 514-8698
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    609 Ragan Rd Oriental, NC 28571
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    Oriental, NC 28571
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    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
    609 Ragan Rd Oriental, NC 28571
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    We can help!
    Listing Contact
    CHRIS MACHLE
    Real Estate License ID: 125354
    (252) 514-8698
    Learn more
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