Two-Unit Duplex
New
For Sale
$175,000
114 Ridge Place, Greenville, NC 27834
Residential Income, Greenville, NC
Property Size1,920 SF
Lot Size0.39 Acres
Price / SF$91.15
Days on Market7
Property Features for 114 Ridge Place
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R6
Bedrooms
4
Bathrooms
4
Full bathrooms
2
Half bathrooms
2
Rooms
Bedroom 3, Bathroom 2, Bedroom 1, Bedroom 4, Bathroom 4, Bathroom 1, Bedroom 2, Bathroom 3
Parking features
Off Street
Subdivision
The Woods
Elementary school
South Greenville Elementary School
Middle school
E B Aycock
High school
J.H. Rose High School
High school district
Pitt County Schools
Directions
From Dickinson Avenue, Turn Right onto Hooker Rd. Turn right onto Ridge Place. House will be on the right.
Standard status
Active
APN
035091
Size
1,920 SF
Lot size
0.39 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
NC PIN : 4677827319
Tax Annual Amount
941
Legal Description
NC PIN : 4677827319
Utilities
Heating system
Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1979
Floors in Building
2
Number of units
2
Building materials
Vinyl Siding, Wood Frame
Roof type
Shingle
Listing Agency:
Century 21 The Realty Group
(252) 355-7800
Listed By:
Tahaia (Kunny) Brothers · License #212607
(252) 531-1872
Added: Sep 17
Changed: Sep 23
Last Checked: Sep 23 at 10:06PM
MLS# 100604176
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.
Investment Insights
Based on property information with market context.
This 1,920-square-foot duplex contains two residences, with each unit offering 2 bedrooms and 1.5 bathrooms. The property was built in 1979 and sits on approximately 0.39 acres within an R6 zoning district. Both units are currently rented, providing an established residential income setup on one parcel.
The building features vinyl siding, wood-frame construction, shingle roofing, electric heat, and central air conditioning. Public water serves the property, and off-street parking is available. Its cul-de-sac setting places the duplex near shopping, dining, medical facilities, and other services in Greenville.
The building features vinyl siding, wood-frame construction, shingle roofing, electric heat, and central air conditioning. Public water serves the property, and off-street parking is available. Its cul-de-sac setting places the duplex near shopping, dining, medical facilities, and other services in Greenville.
Key Highlights
- Two‑unit duplex with 1,920 square feet of building area
- Each residence includes 2 bedrooms and 1.5 bathrooms
- Approximately 0.39‑acre cul‑de‑sac parcel
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
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
456
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
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - R6-zoned duplex with two leased residences on a cul-de-sac parcel near shopping, dining, and medical services.
Where is this duplex located?
The property is located at 114 Ridge Place 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 with 1,920 square feet of building area; Each residence includes 2 bedrooms and 1.5 bathrooms; Approximately 0.39‑acre cul‑de‑sac parcel
