Four-Unit Apartment
New
For Sale
$200,000
104 Ridge Place Abcd, Greenville, NC 27834
Two-level residential property with one-bedroom apartments and two currently leased units.
Property Size2,220 SF
Price / SF$90.09
Days on Market3
Property Features for 104 Ridge Place Abcd
General Information
Standard status
Active
Size
2,220 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Additional Details
Average Monthly Rent
$675
Building Details
Year Built
1978
Buildings
1
Stories
2
Listing Agency:
Century 21 The Realty Group
Listed By:
Tahaia (Kunny) Brothers · License #212607
(252) 531-1872
Source:
Bradberrygarnerrealestate
Added: Sep 20
Last Checked: Sep 21 at 1:02PM
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 Century 21 The Realty Group
Investment Insights
Based on property information with market context.
Built in 1978, this 2,220-square-foot quadplex contains four one-bedroom, one-bath apartments on a single parcel. Two residences are positioned on the upper level and two are located below, creating a straightforward four-unit configuration.
Units C and D are occupied, while Units A and B are available for leasing. The property is located at 104 Ridge Pl in Greenville, North Carolina, within the 27834 ZIP code.
Units C and D are occupied, while Units A and B are available for leasing. The property is located at 104 Ridge Pl in Greenville, North Carolina, within the 27834 ZIP code.
Key Highlights
- Four one‑bedroom, one‑bath units
- 2,220 square feet across two levels
- Built in 1978
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
$14,820
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
7.41%
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%
$296,400
$296.4K
Cap Rate 7%
$211,714
$211.7K
Cap Rate 9%
$164,667
$164.7K
Market Conditions
NOI Build-Up for 2,220 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
$22.6K $10.20/SF
− Vacancy
−$1.5K −$0.66/SF
EGI
$21.2K $9.54/SF
− OpEx
−$6.4K −$2.86/SF
NOI
$14.8K $6.68/SF
Area
Pitt County, NC
Vacancy
6.50%
Lease Rate
$10.20 /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%
$296,400
Cap Rate 7%
$211,714
Cap Rate 9%
$164,667
Alternative Uses
Best Use
Multifamily LT 5
$211.7K
$185.3K – $247.0K
NOI $14,820 @ 7.0% cap · market cap 7.41%
Second Best
Apartment 5plus
$197.2K
$172.5K – $230.0K
NOI $13,802 @ 7.0% cap · market cap 6.90%
Theoretical Best
Office A
$483.3K
$422.9K – $563.8K
NOI $33,829 @ 7.0% cap · market cap 16.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
313
Businesses Nearby
Explore this area
Business Placement
Demographics for 27834, NC
55,051
Population
27,368
Households
2
Avg Household Size
34
Median Age
28%
College-Educated
88%
High-School Grad
174.3 sq mi
ZIP Area
316
Density / Sq Mi
$48,081
Median Household Income
$36,755
Median Earnings
$941
Median Rent
$161,700
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Two-level residential property with one-bedroom apartments and two currently leased units.
Where is this quadplex located?
The property is located at 104 Ridge Place Abcd Greenville, NC.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: Four one‑bedroom, one‑bath units; 2,220 square feet across two levels; Built in 1978
