Updated Multifamily Property in
101 & 301 Johns Way, Newport, NC 28570
MULTI_FAMILY - Newport, NC
Property size:
3,964 SFLot size:
0.25 AcresPrice / SF:
$145/SF- Added:
- Mar 24, 2026
- Days on Market:
- 84
- Last Refresh:
- Jun 15 at 6:06 pm
Property Features for 101 & 301 Johns Way
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R10
- Bedrooms
- 8
- Bathrooms
- 8
- Rooms
- Bathroom 2, Bedroom 3, Bedroom 7, Bathroom 3, Bedroom 6, Bedroom 8, Bathroom 1, Bathroom 8, Bedroom 1, Bedroom 2, Bathroom 5, Bathroom 6, Bathroom 4, Bedroom 5, Bathroom 7, Bedroom 4
- Parking features
- Driveway
- Patio and Porch features
- Porch
- Interior features
- Ceiling Fan(s), Blinds/Shades
- Appliances
- Electric Oven, Refrigerator, Dishwasher
- Standard status
- Active Under Contract
- APN
- 634809179306000
- Size
- 3,964 SF
- Lot size
- 0.25 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Description
- metes & bounds per deedk book 1798 page 82
Utilities
- Heating system
- Electric (Heating), Heat Pump (Heating)
- Cooling system
- Heat Pump
- Water source
- Public
Building Details
- Year built
- 2003
- Floors in Building
- 2
- Number of units
- 4
- Flooring type
- Tile, Carpet, Lvt/lvp
- Building materials
- Vinyl Siding, Wood Frame
- Roof type
- Shingle
Listing agent Mary Cheatham King Real Estate team (252) 518-5222
Listing office Keller Williams Crystal Coast 5420 Hwy. 70, W, New Bern, NC (252) 515-7291
Listing date Mar 24, 2026
MLS# 100562222
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.
HighLights
- Two duplexes totaling 4 units; each unit has 2 bedrooms and 1.5 baths (991 SF per unit)
- Updated units with LVP flooring, granite countertops in kitchens, newer appliances, and refreshed bathroom vanities
- Each unit includes a first‑floor layout with spacious living area plus a laundry area off the kitchen
- Heating and cooling provided by heat pump; electric heating system
- Porch and private deck with half bath for guests
- Built in 2003 with shingle roof, vinyl siding, and wood frame construction
Overview
This multifamily property features two duplexes, totaling four units. Each unit includes 2 bedrooms and 1.5 baths, with each unit measuring 991 square feet. The units have been updated with LVP flooring and kitchens featuring granite countertops, newer appliances, and refreshed bathroom vanities. Each unit offers abundant natural light and a functional first floor with a spacious living area, a kitchen with white cabinetry and appliances, and a conveniently located laundry area just off the kitchen. A private deck is available for each unit, suitable for grilling, along with a half bath for guests. Upstairs, two bedrooms are connected by a shared bath featuring an updated vanity. Located just outside downtown Newport, the property offers easy access to local cafes, restaurants, and schools. The property is situated on a 0.25-acre lot. This property is suitable for investors or owner-occupants looking to live in one unit and rent out the remaining three. The total property size is 3964 square feet.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $52.3k | $13.20 |
| − Vacancy | −$3.4k | −$0.86 |
| EGI | $48.9k | $12.34 |
| − OpEx | −$14.7k | −$3.70 |
| NOI | $34.2k | $8.64 |
3,964 SF · lease $13.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$489.2K
$428.1K – $570.8K
NOI $34,247 @ 7.0% cap · market cap 5.96%
Second Best
Apartment 5plus
$457.7K
$400.5K – $534.0K
NOI $32,038 @ 7.0% cap · market cap 5.57%
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,244 @ 7.0% cap · market cap 14.48%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Location Insight
- Map
- Local Demand
- City
- Newport
- County
- Carteret
- State
- North Carolina
- Longitude
- -76.861427
- Latitude
- 34.795545
Nearby Similar for Sale
FAQs
What type of property is this?
Quadplex - Four updated units near downtown Newport, ideal for investors.
Where is this quadplex located?
The property is located at 101 & 301 Johns Way Newport, NC.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Two duplexes totaling 4 units; each unit has 2 bedrooms and 1.5 baths (991 SF per unit); Updated units with LVP flooring, granite countertops in kitchens, newer appliances, and refreshed bathroom vanities; Each unit includes a first‑floor layout with spacious living area plus a laundry area off the kitchen
