Duplex with Two One-Bedroom
For Sale
$99,999
1006 Faison Street E, Wilson, NC 27893
The right unit requires kitchen and bathroom fixtures, while the property dates to 1953.
Property Size1,175 SF
Days on Market9
Property Features for 1006 Faison Street E
General Information
Standard status
Active
Size
1,175 SF
Property subtype
Duplex
Property Condition
Severity
Repairs Needed
Evidence
Right side needs fixtures in kitchen/bath
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Building Details
Building Size
1,175 SF
Year Built
1953
Listing Agency:
Womble Real Estate
Listed By:
Allyson M Moye · License #210074
(252) 230-2641
Source:
Dustinbennett
Added: Sep 25
Changed: Sep 28
Last Checked: Oct 1 at 3:57PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Womble Real Estate
Investment Insights
Based on property information with market context.
This 1953 duplex contains two one-bedroom, one-bathroom units. The right-side unit needs kitchen and bathroom fixtures, a defined condition item for the next owner to address.
The property is located at 1006 Faison Street E in Wilson, North Carolina.
The property is located at 1006 Faison Street E in Wilson, North Carolina.
Key Highlights
- Two one‑bedroom, one‑bathroom units
- Right‑side unit needs kitchen and bathroom fixtures
- Built in 1953
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
$8,871
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
8.87%
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%
$177,420
$177.4K
Cap Rate 7%
$126,729
$126.7K
Cap Rate 9%
$98,567
$98.6K
Market Conditions
NOI Build-Up for 1,175 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
$17.3K $14.76/SF
− Vacancy
−$1.2K −$1.03/SF
EGI
$16.1K $13.73/SF
− OpEx
−$7.3K −$6.18/SF
NOI
$8.9K $7.55/SF
Area
Wilson County, NC
Vacancy
7.00%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
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%
$177,420
Cap Rate 7%
$126,729
Cap Rate 9%
$98,567
Alternative Uses
Best Use
Multifamily LT 5
$136.9K
$119.8K – $159.8K
NOI $9,586 @ 7.0% cap · market cap 9.59%
Second Best
Apartment 5plus
$126.7K
$110.9K – $147.9K
NOI $8,871 @ 7.0% cap · market cap 8.87%
Theoretical Best
Office A
$282.0K
$246.8K – $329.0K
NOI $19,741 @ 7.0% cap · market cap 19.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
298
Businesses Nearby
Explore this area
Business Placement
Demographics for 27893, NC
37,131
Population
18,383
Households
2
Avg Household Size
41
Median Age
15%
College-Educated
79%
High-School Grad
109.0 sq mi
ZIP Area
341
Density / Sq Mi
$40,180
Median Household Income
$31,197
Median Earnings
$894
Median Rent
$153,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - The right unit requires kitchen and bathroom fixtures, while the property dates to 1953.
Where is this duplex located?
The property is located at 1006 Faison Street E Wilson, NC.
What is the asking price?
The asking price for this property is $99,999.
What are key features of this property?
This property features: Two one‑bedroom, one‑bathroom units; Right‑side unit needs kitchen and bathroom fixtures; Built in 1953
