Two-Unit
New
For Sale
$175,000
114 Ridge Place A&b, Greenville, NC 27834
Both residences have two bedrooms and 1.5 bathrooms, with tenants currently in place.
Property Size1,920 SF
Lot Size0.39 Acres
Price / SF$91.15
Days on Market5
Property Features for 114 Ridge Place A&b
General Information
Standard status
Active
Size
1,920 SF
Lot size
0.39 Acres
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1.5BA
Multifamily Units
2
Additional Details
Gross Income
$19,500
Building Details
Year Built
1979
Listing Agency:
Century 21 The Realty Group
Listed By:
Tahaia (Kunny) Brothers · License #212607
(252) 531-1872
Source:
Ibxcoastalliving
Added: Oct 1
Last Checked: Oct 4 at 12:51PM
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.
This 1,920-square-foot duplex contains two residences on a single parcel. Built in 1979, the property sits on approximately 0.39 acres at the end of a cul-de-sac. Each unit is configured with two bedrooms and 1.5 bathrooms, and both are occupied by tenants.
The Greenville property is near shopping, dining, medical facilities, and other local amenities.
The Greenville property is near shopping, dining, medical facilities, and other local amenities.
Key Highlights
- Two‑unit duplex on one parcel
- 1,920 square feet; built in 1979
- Approximately 0.39 acres on a cul‑de‑sac lot
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
$12,818
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
7.32%
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%
$256,360
$256.4K
Cap Rate 7%
$183,114
$183.1K
Cap Rate 9%
$142,422
$142.4K
Market Conditions
NOI Build-Up for 1,920 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
$19.6K $10.20/SF
− Vacancy
−$1.3K −$0.66/SF
EGI
$18.3K $9.54/SF
− OpEx
−$5.5K −$2.86/SF
NOI
$12.8K $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%
$256,360
Cap Rate 7%
$183,114
Cap Rate 9%
$142,422
Alternative Uses
Best Use
Multifamily LT 5
$183.1K
$160.2K – $213.6K
NOI $12,818 @ 7.0% cap · market cap 7.32%
Second Best
Apartment 5plus
$170.5K
$149.2K – $199.0K
NOI $11,937 @ 7.0% cap · market cap 6.82%
Theoretical Best
Office A
$418.0K
$365.7K – $487.6K
NOI $29,257 @ 7.0% cap · market cap 16.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
456
Businesses Nearby
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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?
Duplex - Both residences have two bedrooms and 1.5 bathrooms, with tenants currently in place.
Where is this duplex located?
The property is located at 114 Ridge Place A&b Greenville, NC.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Two‑unit duplex on one parcel; 1,920 square feet; built in 1979; Approximately 0.39 acres on a cul‑de‑sac lot
