Renovated Duplex with Dedicated
For Sale
$239,900
707 S Randolph Street, Goldsboro, NC 27530
MULTI_FAMILY - Goldsboro, NC
Property Size1,736 SF
Lot Size0.38 Acres
Price / SF$138.19
Days on Market72
Property Features for 707 S Randolph Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-12
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 1, Bedroom 2, Bedroom 4, Bedroom 3, Bathroom 2
Elementary school
Carver Heights
Middle school
Dillard
High school
Goldsboro
High school district
Wayne County Public Schools
Directions
S. Berkeley Blvd turn right on Elm St just before SJAFB entrance, go to bottom of hill, LEFT on S. Randolph St. DUPLEX WILL BE ON THE RIGHT
Standard status
Active
APN
12000142002003
Size
1,736 SF
Lot size
0.38 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PT LT 9 EMMETT REEVES
Tax Annual Amount
848
Legal Description
PT LT 9 EMMETT REEVES
Utilities
Heating system
Electric (Heating), Heat Pump (Heating)
Cooling system
Central Air
Building Details
Year built
1957
Floors in Building
1
Number of units
2
Building materials
Stucco, Wood Frame
Roof type
Composition
Listing Agency:
Wilkins & Lancaster Realty, LLC
(919) 922-7530
Listed By:
Riley Wilkins · License #285525
(919) 922-7530
Added: Jun 2
Changed: Aug 10
Last Checked: Aug 12 at 2:06AM
MLS# 100578484
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.
Duplex at 707 S Randolph Street in Goldsboro, North Carolina, built in 1957 on a 0.38-acre lot. The property is a two-unit setup with dedicated driveways for each unit. Each unit is approximately 870 SF and offers two bedrooms and one bathroom. Unit 707 has been recently renovated.
The duplex has central air cooling. Heating is provided by heat pump and electric systems. HVAC was replaced in 2015 for both units, and there was a full roof replacement in 2022. Construction is stucco with wood frame elements, and the roof is composition. The property is zoned R-12.
Overall, this is a straightforward duplex configuration with separate vehicle access, updated major systems, and a recently renovated unit.
The duplex has central air cooling. Heating is provided by heat pump and electric systems. HVAC was replaced in 2015 for both units, and there was a full roof replacement in 2022. Construction is stucco with wood frame elements, and the roof is composition. The property is zoned R-12.
Overall, this is a straightforward duplex configuration with separate vehicle access, updated major systems, and a recently renovated unit.
Key Highlights
- 0.38‑acre lot with a 1957‑built duplex
- Each unit is approximately 870 SF with two bedrooms and one bathroom
- Dedicated driveway access for each unit
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
$15,158
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
6.32%
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%
$303,160
$303.2K
Cap Rate 7%
$216,543
$216.5K
Cap Rate 9%
$168,422
$168.4K
Market Conditions
NOI Build-Up for 1,736 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
$22.9K $13.20/SF
− Vacancy
−$1.3K −$0.73/SF
EGI
$21.7K $12.47/SF
− OpEx
−$6.5K −$3.74/SF
NOI
$15.2K $8.73/SF
Area
Wayne County, NC
Vacancy
5.50%
Lease Rate
$13.20 /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%
$303,160
Cap Rate 7%
$216,543
Cap Rate 9%
$168,422
Alternative Uses
Best Use
Multifamily LT 5
$216.5K
$189.5K – $252.6K
NOI $15,158 @ 7.0% cap · market cap 6.32%
Second Best
Apartment 5plus
$202.1K
$176.9K – $235.8K
NOI $14,150 @ 7.0% cap · market cap 5.90%
Theoretical Best
Specialty Retail
$1.40M
$1.22M – $1.63M
NOI $97,698 @ 7.0% cap · market cap 40.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
72
Businesses Nearby
Explore this area
Business Placement
Demographics for 27530, NC
37,470
Population
17,796
Households
2.1
Avg Household Size
41
Median Age
22%
College-Educated
89%
High-School Grad
106.5 sq mi
ZIP Area
352
Density / Sq Mi
$55,507
Median Household Income
$37,696
Median Earnings
$827
Median Rent
$176,500
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?
Duplex - Duplex in R-12 zoning with dedicated driveways for each unit, HVAC replaced in 2015, and roof replacement in 2022.
Where is this duplex located?
The property is located at 707 S Randolph Street Goldsboro, NC.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: 0.38‑acre lot with a 1957‑built duplex; Each unit is approximately 870 SF with two bedrooms and one bathroom; Dedicated driveway access for each unit
