1222 National Avenue, New Bern, NC 28560
Restored duplex with income potential in historic Riverside district.
- Added:
- Oct 16, 2024
- Days on Market:
- 620
- Last Refresh:
- May 20 at 2:25 am
Property Features for 1222 National Avenue
General Information
- Standard status
- Active
- Size
- 5,030 SF
- Lot size
- 0.18 Acres
- Property subtype
- Multi Family
Building Details
- Year Built
- 1920
Listing office Homecoin.com (919) 889-5594
Listing date Oct 16, 2024
Source Exitrealty
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HighLights
- Income‑producing duplex: rent both units for investment potential.
- Historically restored with modern upgrades, including energy‑efficient systems.
- Large and versatile spaces: Side A (2000 sq ft) and Side B (3500 sq ft) offer flexible living arrangements.
- High‑end custom features: Solid maple cabinetry and refinished hardwood floors enhance the property's appeal.
- Desirable location: Situated in the Historic District of Riverside, close to downtown New Bern.
- Floodplain safe: Property is above the flood plain and 100‑year mark.
Overview
Local 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 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- New Bern
- County
- Craven
- State
- North Carolina
- Longitude
- -77.0476888
- Latitude
- 35.1191882