Two-Unit
New
For Sale
$99,999
1006 Faison Street E, Wilson, NC 27893
Residential Income, Wilson, NC
Property Size1,175 SF
Lot Size0.14 Acres
Price / SF$85.11
Days on Market5
Property Features for 1006 Faison Street E
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
GR6
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 1, Bedroom 2, Bathroom 2
Parking features
Off Street
Patio and Porch features
Porch
Interior features
Ceiling Fan(s)
Fencing
Chain Link
Subdivision
Fikewood
Elementary school
Vick
Middle school
Darden
High school
Fike
Directions
Ward Blvd to Reid St,, turn right. Left on Faison. Home is on the right.
Standard status
Active
APN
3721-79-6599.000
Size
1,175 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
BK D, L 10
Legal Description
BK D, L 10
Utilities
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1953
Floors in Building
1
Number of units
2
Flooring type
Vinyl, Wood
Building materials
Stucco, Wood Frame
Roof type
Shingle
Listing Agency:
Womble Real Estate
(252) 291-1123
Listed By:
Allyson M Moye · License #210074
(252) 230-2641
Added: Sep 23
Changed: Sep 25
Last Checked: Sep 27 at 12:06PM
MLS# 100606186
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.
This 1,175-square-foot duplex was built in 1953 and has a one-bedroom, one-bathroom layout on each side. Interior finishes include vinyl and wood flooring, with ceiling fans, central air conditioning, and natural gas heat. A porch, chain-link fencing, and off-street parking are also present. The right-side unit needs kitchen and bathroom fixtures.
The property occupies a 0.1377-acre lot and is zoned GR6. Public water serves the site.
The property occupies a 0.1377-acre lot and is zoned GR6. Public water serves the site.
Key Highlights
- Two units, each configured with one bedroom and one bathroom
- 1,175 square feet on a 0.1377‑acre lot
- Zoned GR6
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence contains one bedroom and one bathroom, with central air and off-street parking.
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 units, each configured with one bedroom and one bathroom; 1,175 square feet on a 0.1377‑acre lot; Zoned GR6
