Restored Duplex with Shared Outdoor
For Sale
$647,500
1222 National Avenue, New Bern, NC 28560
MULTI_FAMILY - New Bern, NC
Property Size5,030 SF
Lot Size0.18 Acres
Price / SF$128.73
Days on Market655
Property Features for 1222 National Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Res-2 Family
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bathroom 3, Bathroom 2, Bedroom 4, Bedroom 5, Bedroom 6, Bedroom 1, Bathroom 1, Bathroom 4, Bedroom 2
Parking features
Off Street
Security features
Security Lighting
Patio and Porch features
Patio, Porch
Interior features
Vaulted Ceiling(s), High Ceilings, Wash/Dry Connect, Ceiling Fan(s), Pantry, Walk-in Shower, Blinds/Shades, Workshop
Exterior features
Mail on Site, Trash on Site
Appliances
Vented Exhaust Fan, Gas Oven, Washer, Refrigerator, Ice Maker, Dryer, Dishwasher
Subdivision
Not In Subdivision
Lot features
Corner Lot
Elementary school
Oaks Road
Middle school
H. J. MacDonald
High school
New Bern
Directions
Corner Avenue B and National Avenue
Standard status
Active
APN
8-005 -128
Size
5,030 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2022
Tax Description
1222 NATIONAL
Tax Annual Amount
1178
Legal Description
1222 NATIONAL
Utilities
Utilities
Water Available
Heating system
Passive Solar, Natural Gas, Heat Pump (Heating), Forced Air, Solar (Heating), Zoned
Cooling system
Central Air, Zoned
Water source
Public
Building Details
Year built
1920
Floors in Building
3
Number of units
2
Flooring type
Tile, Wood
Building materials
Brick, Brick/Stone, Wood Frame
Roof type
Metal
Additional Structures
Workshop
Listing Agency:
Homecoin.com
(888) 400-2513
Listed By:
Tracy P Dowling · License #230926
(888) 400-2513
Added: Oct 14, 2024
Changed: Jul 18
Last Checked: Jul 30 at 11:06PM
MLS# 100471151
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.
A historically restored duplex that has undergone a complete renovation, offering separate, secure access to each side through a common vestibule and individual secure doors. The property’s systems have been upgraded for energy efficiency, including modern A/C and heat pumps, gas stoves and dryers, and rewired electricity. Both sides include multiple levels with refinished hardwood floors, large operable windows, and interior access to basements from inside and outside. Side A features a 2,000-square-foot layout with multiple bedrooms and full baths, a parlor and dining room, and a full-height basement. Side B spans approximately 3,500 square feet, includes a full walk-up third floor, and features 10-foot cathedral ceilings with additional living or workroom space plus preparation for a bathroom.
The duplex is listed on the historic registry and is above the flood plain. Outside, the shared back garden includes a large patio, finished garden areas, locked storage under the shared back porch, and a parking pad. The front porch is deep and shared between both sides, and the ground floor includes wheelchair-accessible showers with teak grating.
The duplex is listed on the historic registry and is above the flood plain. Outside, the shared back garden includes a large patio, finished garden areas, locked storage under the shared back porch, and a parking pad. The front porch is deep and shared between both sides, and the ground floor includes wheelchair-accessible showers with teak grating.
Key Highlights
- Historically restored duplex (year built 1920) listed on the historic registry with complete renovation and upgraded systems
- Side A: 2,000 SF with 3 bedrooms, 2 full baths, parlor, dining room, kitchen, and full‑height basement
- Side B: 3,500 SF with full walk‑up 3rd floor, 10‑ft cathedral ceilings, and preparation for a bathroom
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $69.4k | $13.80 |
| − Vacancy | −$4.5k | −$0.90 |
| EGI | $64.9k | $12.90 |
| − OpEx | −$19.5k | −$3.87 |
| NOI | $45.4k | $9.03 |
5,030 SF · lease $13.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$649.0K
$567.9K – $757.2K
NOI $45,431 @ 7.0% cap · market cap 7.02%
Second Best
Apartment 5plus
$587.1K
$513.7K – $685.0K
NOI $41,097 @ 7.0% cap · market cap 6.35%
Theoretical Best
Office A
$1.66M
$1.45M – $1.93M
NOI $116,086 @ 7.0% cap · market cap 17.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
82
Businesses Nearby
Explore this area
Business Placement
Demographics for 28560, NC
28,005
Population
14,165
Households
2
Avg Household Size
46
Median Age
25%
College-Educated
92%
High-School Grad
122.6 sq mi
ZIP Area
228
Density / Sq Mi
$62,142
Median Household Income
$37,379
Median Earnings
$992
Median Rent
$191,600
Median Home Value
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 - A fully renovated duplex with upgraded systems, secure separate entries, and a shared back garden with patio.
Where is this duplex located?
The property is located at 1222 National Avenue New Bern, NC.
What is the asking price?
The asking price for this property is $647,500.
What are key features of this property?
This property features: Historically restored duplex (year built 1920) listed on the historic registry with complete renovation and upgraded systems; Side A: 2,000 SF with 3 bedrooms, 2 full baths, parlor, dining room, kitchen, and full‑height basement; Side B: 3,500 SF with full walk‑up 3rd floor, 10‑ft cathedral ceilings, and preparation for a bathroom
