4-Unit
For Sale
$499,000
108 Ravenwood Dr, Jacksonville, NC 28546
All four residences are leased, each with a two-bedroom, one-bathroom layout.
Property Size3,000 SF
Price / SF$166.33
Days on Market8
Property Features for 108 Ravenwood Dr
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Asking Price
$499,000
Building Details
Year Built
1984
Listing Agency:
Keller Williams Realty
Listed By:
Daniel Page Muse · License #313280
(252) 670-7203
Source:
Findnorthcarolinaproperties
Added: Sep 28
Changed: Oct 3
Last Checked: Oct 4 at 9:58AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This Jacksonville quadplex contains four leased residences, each configured with two bedrooms and one bathroom. The property has approximately 3,000 total square feet, with eight bedrooms and four bathrooms across the building. Built in 1984, it is located near Camp Lejeune, along with shopping, dining, services, and major employment centers in Jacksonville.
Key Highlights
- Four leased residences, each with a 2BR/1BA layout
- Approximately 3,000 total SF
- 8 bedrooms and 4 bathrooms
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
$30,004
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
6.01%
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%
$600,080
$600.1K
Cap Rate 7%
$428,629
$428.6K
Cap Rate 9%
$333,378
$333.4K
Market Conditions
NOI Build-Up for 3,000 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
$45.0K $15.00/SF
− Vacancy
−$2.1K −$0.71/SF
EGI
$42.9K $14.29/SF
− OpEx
−$12.9K −$4.29/SF
NOI
$30.0K $10.00/SF
Area
Onslow County, NC
Vacancy
4.75%
Lease Rate
$15.00 /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%
$600,080
Cap Rate 7%
$428,629
Cap Rate 9%
$333,378
Alternative Uses
Best Use
Multifamily LT 5
$428.6K
$375.1K – $500.1K
NOI $30,004 @ 7.0% cap · market cap 6.01%
Second Best
Apartment 5plus
$389.6K
$340.9K – $454.6K
NOI $27,275 @ 7.0% cap · market cap 5.47%
Theoretical Best
Office A
$651.7K
$570.2K – $760.3K
NOI $45,619 @ 7.0% cap · market cap 9.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
509
Businesses Nearby
Explore this area
Business Placement
Demographics for 28546, NC
48,547
Population
21,387
Households
2.3
Avg Household Size
30
Median Age
25%
College-Educated
95%
High-School Grad
103.9 sq mi
ZIP Area
467
Density / Sq Mi
$60,552
Median Household Income
$39,487
Median Earnings
$1,174
Median Rent
$212,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - All four residences are leased, each with a two-bedroom, one-bathroom layout.
Where is this quadplex located?
The property is located at 108 Ravenwood Dr Jacksonville, NC.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Four leased residences, each with a 2BR/1BA layout; Approximately 3,000 total SF; 8 bedrooms and 4 bathrooms
