Eight-Unit Duplex
New
For Sale
$1,550,000
1126 Norris Rd, Clayton, NC 27520
Four duplex buildings include private laundry rooms, outdoor areas, and individually metered electrical service.
Property Size7,264 SF
Lot Size5.00 Acres
Price / SF$213.38
Days on Market5
Property Features for 1126 Norris Rd
General Information
Standard status
Active
Size
7,264 SF
Lot size
5.00 Acres
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
8 x 2BR/2BA
Multifamily Units
8
Individually Metered Utilities
electricity
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$7,577
Building Details
Buildings
4
Tenancy
Multi
Listing Agency:
eXp Realty, LLC - C
(888) 584-9431
Listed By:
Aaron Chaney
(910) 742-2179
Source:
Exprealty
Added: Nov 2
Changed: Nov 4
Last Checked: Nov 4 at 2:24PM
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 eXp Realty, LLC - C
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Investment Insights
Based on property information with market context.
The offering comprises four duplex buildings with eight two-bedroom, two-bath units. Each residence has a private laundry room with a washer and dryer off the kitchen, outdoor space at both the front and rear, and a kitchen equipped with a stove, microwave, dishwasher, and refrigerator. Seven units have been updated, and a separate outbuilding provides storage. The units are individually metered for power, and all are leased.
The property spans 5 acres in Clayton, North Carolina, across lots 1, 2, 4, and 5 of the included survey. Lot 3, which contains a private home, is excluded from the transaction. The four duplexes are being offered together.
The property spans 5 acres in Clayton, North Carolina, across lots 1, 2, 4, and 5 of the included survey. Lot 3, which contains a private home, is excluded from the transaction. The four duplexes are being offered together.
Key Highlights
- Four duplex buildings with 8 units, offered together
- Each unit has 2 bedrooms and 2 bathrooms
- All units are leased; 7 of the 8 have been updated
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$74,026
Cap Rate
4.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,480,520
$1.5M
Cap Rate 7%
$1,057,514
$1.1M
Cap Rate 9%
$822,511
$822.5K
Market Conditions
NOI Build-Up for 7,264 SF
Gross rent
$111.6K $15.36/SF
− Vacancy
−$5.8K −$0.80/SF
EGI
$105.8K $14.56/SF
− OpEx
−$31.7K −$4.37/SF
NOI
$74.0K $10.19/SF
Area
Johnston County, NC
Vacancy
5.22%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,480,520
Cap Rate 7%
$1,057,514
Cap Rate 9%
$822,511
Alternative Uses
Best Use
Multifamily LT 5
$1.06M
$925.3K – $1.23M
NOI $74,026 @ 7.0% cap · market cap 4.78%
Second Best
Apartment 5plus
$912.6K
$798.5K – $1.06M
NOI $63,881 @ 7.0% cap · market cap 4.12%
Theoretical Best
Office A
$2.20M
$1.92M – $2.56M
NOI $153,827 @ 7.0% cap · market cap 9.92%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
8
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
22
Businesses Nearby
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Business Placement
Demographics for 27520, NC
46,478
Population
18,540
Households
2.5
Avg Household Size
37
Median Age
29%
College-Educated
94%
High-School Grad
70.8 sq mi
ZIP Area
656
Density / Sq Mi
$84,545
Median Household Income
$45,147
Median Earnings
$1,430
Median Rent
$282,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Four duplex buildings include private laundry rooms, outdoor areas, and individually metered electrical service.
Where is this duplex located?
The property is located at 1126 Norris Rd Clayton, NC.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Four duplex buildings with 8 units, offered together; Each unit has 2 bedrooms and 2 bathrooms; All units are leased; 7 of the 8 have been updated
