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    Multi-Unit Home Plus Bonus Cottage Title is generated by Realmo AI

    1011 W Main Street, Williamston, NC 27892

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    For Sale
    $220,000

    MULTI_FAMILY - Williamston, NC

    Property size:
    2,511 SF
    Lot size:
    0.44 Acres
    Price / SF:
    $87/SF
    Added:
    May 13, 2026
    Days on Market:
    8
    Last Refresh:
    May 20 at 3:06 am

    Property Features for 1011 W Main Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    R6
    Bedrooms
    5
    Bathrooms
    4
    Rooms
    Bathroom 5, Bedroom 3, Bedroom 5, Bathroom 2, Bedroom 1, Bedroom 4, Bathroom 1, Bedroom 2, Bathroom 3, Bathroom 4
    Parking features
    Carport, Off Street
    Patio and Porch features
    Porch
    Standard status
    Active
    APN
    0501859
    Size
    2,511 SF
    Lot size
    0.44 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    Res and Ten 1011 W. Main Street
    Tax Annual Amount
    2344

    Utilities

    Heating system
    Baseboard, Electric (Heating)
    Cooling system
    Wall/Window Unit(s), Window Unit(s)

    Building Details

    Year built
    1954
    Floors in Building
    2
    Number of units
    4
    Building materials
    Vinyl Siding, Wood Frame
    Roof type
    Shingle, Flat

    We can help!

    Listing Contact
    Kristy Conway

    Listing agent Kristy Conway License #250830

    Listing office ENC Pirate Realty Belhaven - Allen Tate NC

    Listing date May 13, 2026

    MLS# 100573569 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

    • Multi‑unit property with a main house (configured as 4 units) and a detached cottage ('Playhouse') offering diverse rental income streams.
    • Immediate income from 3 currently occupied units.
    • Significant upside potential through repairs and rental of vacant units, including the 'Playhouse' with a high estimated rent.
    • Recent improvements to the main house include updated vinyl siding, roof, and some replacement windows.
    • Separate electric meters and mailboxes for main units, simplifying management.
    • Central location near downtown amenities, shopping, and commuter routes.

    Overview

    Located in Williamston, North Carolina, this multi-unit property at 1011 W. Main St features a main home configured into 4 separate units, plus an additional detached cottage. The main house has updated vinyl siding, a roof, and some replacement windows. Unit A is a 2-bedroom, 1-bathroom downstairs unit with a living room, open kitchen, laundry area, storage room, and screened porch. Unit B is a vacant 1-bedroom, 1-bathroom upstairs unit with a kitchen and living area that needs repairs. Unit C features a 2-bedroom, 2-bathroom layout (one bath currently unusable). Unit D is a 1-bedroom, 1-bathroom unit. The detached bonus cottage is a studio-style 1-bedroom, 1-bathroom unit with a screened porch and needs repairs. The property has separate electric meters and mailboxes for the main units. The lot size is 0.44 acres, and the property size is 2511 square feet. The property is centrally located near downtown amenities, shopping, and commuter routes. Currently 3 units are occupied, providing immediate income, with additional upside through vacant units needing repairs.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Williamston
    County
    Martin
    State
    North Carolina
    Longitude
    -77.069105
    Latitude
    35.846636

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    FAQs

    What type of property is this?
    Multifamily property - Multi-unit property with detached cottage in Williamston, North Carolina.
    Where is this multifamily property located?
    The property is located at 1011 W Main Street Williamston, NC.
    What is the asking price?
    The asking price for this property is $220,000.
    What are key features of this property?
    This property features: Multi‑unit property with a main house (configured as 4 units) and a detached cottage ('Playhouse') offering diverse rental income streams.; Immediate income from 3 currently occupied units.; Significant upside potential through repairs and rental of vacant units, including the 'Playhouse' with a high estimated rent.
    (252) 531-6363
    We can help!
    Listing Contact
    Kristy Conway
    Real Estate License ID: 250830
    Learn More
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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.

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