Restored Duplex in Historic
1222 National Avenue, New Bern, NC 28560
MULTI_FAMILY - New Bern, NC
Property size:
5,030 SFLot size:
0.18 AcresPrice / SF:
$128/SF- Added:
- Oct 14, 2024
- Days on Market:
- 591
- Last Refresh:
- May 27 at 10:06 pm
Property Features for 1222 National Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- Res-2 Family
- Bedrooms
- 6
- Bathrooms
- 4
- Rooms
- Bathroom 3, Bedroom 5, Bedroom 1, Bathroom 1, Bedroom 2, Bathroom 4, Bedroom 4, Bedroom 6, Bedroom 3, Bathroom 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
- 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
Utilities
- Utilities
- Water Available
- Heating system
- Solar (Heating), Passive Solar, Natural Gas, Heat Pump (Heating), Zoned, Forced Air
- Cooling system
- Central Air, Zoned
- Water source
- Public
Building Details
- Year built
- 1920
- Floors in Building
- 3
- Number of units
- 2
- Flooring type
- Wood, Tile
- Building materials
- Brick
- Roof type
- Metal
- Additional Structures
- Workshop
Listing agent Tracy P Dowling License #230926 (888) 400-2513
Listing office Homecoin.com 600 B St. Suite 300, San Diego, NC (888) 400-2513
Listing date Oct 14, 2024
MLS# 100471151
Listing URL
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.
HighLights
- Income‑producing duplex: Rent both units for investment.
- Historically restored with modern upgrades: Energy‑efficient systems and low‑maintenance exterior.
- Large living spaces: Side A (2000 sq ft) and Side B (3500 sq ft) with flexible layouts.
- High‑end finishes: Features custom solid wood maple cabinetry and refinished hardwood floors.
- Suitable for various uses: Potential for Airbnb or extended family living.
- Desirable location: Close to downtown New Bern in the Historic District of Riverside.
Overview
This historically restored duplex offers elegant living and income potential. It can serve as a primary residence with rental income from the other unit, or as a fully income-producing property. Listed on the historic registry, the duplex is suitable for Airbnb, short-term, or long-term rentals, and can accommodate a large extended group. The property has undergone a complete renovation with upgraded, energy-efficient, and modern systems. The exterior is glazed brick, requiring no oiling or painting. The building is situated above the flood plain and 100-year mark. Side A, spanning 2000 square feet, features 2 full baths, 3 bedrooms off a 6-foot-wide hallway suitable as a work or play space, a parlor, dining room, kitchen, and a full-height basement. Side B, at 3500 square feet, includes a full walk-up 3rd floor with 10-foot-high cathedral ceilings, suitable for a studio, workroom, or additional living area, with preparation for a bathroom. The second floor of Side B has 3 bedrooms and 2 full baths. The ground floor includes a parlor, eat-in kitchen, and a sunroom. Both sides feature custom-made solid wood maple cabinetry in the bathrooms and kitchens. The property includes wheelchair-accessible showers with teak gratings on the ground floor, and washers and gas dryers on the second floor. Basements on both sides have interior and exterior access, large 6-foot-high windows, 9-foot ceilings, and refinished hardwood floors. A shared back garden includes a large patio, parking pad, finished gardens, and locked storage under the shared back porch. The deep, shaded front porch is shared between the two sides, with entry through a common vestibule and secure doors for each unit. The property is located close to downtown New Bern.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$504.8K
NOI $45,431 @ 9.00% cap · cautious / downside scenario
Moderate
$649.0K
NOI $45,431 @ 7.00% cap · market / base-case scenario
Aggressive
$908.6K
NOI $45,431 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Multifamily LT 5
| 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 Use Scenarios
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 local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
The Duplex
Property Investment Company
Location Insight
- Map
- Local Demand
- City
- New Bern
- County
- Craven
- State
- North Carolina
- Longitude
- -77.047685
- Latitude
- 35.119183
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Historically restored duplex suitable for living, rental, or Airbnb.
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: Income‑producing duplex: Rent both units for investment.; Historically restored with modern upgrades: Energy‑efficient systems and low‑maintenance exterior.; Large living spaces: Side A (2000 sq ft) and Side B (3500 sq ft) with flexible layouts.
