Two-Unit Duplex with New
For Sale
$219,500
1312 E 14th St, Greenville, NC 27858
Residential Income, Greenville, NC
Property Size1,556 SF
Lot Size0.39 Acres
Price / SF$141.07
Days on Market47
Property Features for 1312 E 14th St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R9
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 4, Bedroom 3, Bedroom 2, Bathroom 1, Bathroom 2
Appliances
Refrigerator, Range
Subdivision
Not In Subdivision
Lot features
Wooded
Elementary school
Eastern Elementary
Middle school
C.M. Eppes Middle School
High school
J.H. Rose High School
High school district
Pitt County Schools
Directions
From Elm street take 14th towards Greenville Blvd. The duplex will be on the right just befor Peppermint Park.
Standard status
Active
APN
31730
Size
1,556 SF
Lot size
0.39 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
Former Desc, Minkin Ct
Legal Description
Former Desc, Minkin Ct
Utilities
Heating system
Electric (Heating), Heat Pump (Heating)
Cooling system
Central Air, Heat Pump
Water source
Public
Building Details
Year built
1976
Floors in Building
1
Number of units
2
Building materials
Brick Veneer, Wood Frame
Roof type
Shingle
Listing Agency:
Aldridge & Southerland
Listed By:
Odom, Kelly & Dellano Team · License #182189
(252) 756-3500
Added: Aug 10
Changed: Sep 16
Last Checked: Sep 25 at 4:06PM
MLS# 100595135
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 1,556-square-foot duplex contains two residential units, each configured with two bedrooms and one bathroom. The building was constructed in 1976 and includes brick veneer with wood-frame construction, shingle roofing, central air, heat-pump heating and cooling, and electric heat. Each unit is equipped with a refrigerator and range, while public water serves the property. A brand-new roof has been installed.
The property occupies 0.39 acres along E 14th St in Greenville, with a natural yard setting beside a park. E 14th St provides a direct route between the ECU campus and Greenville Blvd. The surrounding area includes the Elmhurst, Kingsbrook, and East Haven neighborhoods. R9 zoning is reported for the property.
The property occupies 0.39 acres along E 14th St in Greenville, with a natural yard setting beside a park. E 14th St provides a direct route between the ECU campus and Greenville Blvd. The surrounding area includes the Elmhurst, Kingsbrook, and East Haven neighborhoods. R9 zoning is reported for the property.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bathroom in each unit
- 1,556 square feet on a 0.39‑acre lot
- Brand‑new roof with shingle roofing
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
$10,388
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
4.73%
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%
$207,760
$207.8K
Cap Rate 7%
$148,400
$148.4K
Cap Rate 9%
$115,422
$115.4K
Market Conditions
NOI Build-Up for 1,556 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
$15.9K $10.20/SF
− Vacancy
−$1.0K −$0.66/SF
EGI
$14.8K $9.54/SF
− OpEx
−$4.5K −$2.86/SF
NOI
$10.4K $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%
$207,760
Cap Rate 7%
$148,400
Cap Rate 9%
$115,422
Alternative Uses
Best Use
Multifamily LT 5
$148.4K
$129.9K – $173.1K
NOI $10,388 @ 7.0% cap · market cap 4.73%
Second Best
Apartment 5plus
$138.2K
$120.9K – $161.2K
NOI $9,674 @ 7.0% cap · market cap 4.41%
Theoretical Best
Office A
$338.7K
$296.4K – $395.2K
NOI $23,710 @ 7.0% cap · market cap 10.80%
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
205
Businesses Nearby
Explore this area
Business Placement
Demographics for 27858, NC
52,857
Population
26,281
Households
2
Avg Household Size
31
Median Age
46%
College-Educated
94%
High-School Grad
61.4 sq mi
ZIP Area
861
Density / Sq Mi
$60,915
Median Household Income
$34,598
Median Earnings
$1,042
Median Rent
$233,200
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 - Brick-veneer property with two-bedroom residences, private outdoor space, and convenient access along E 14th St.
Where is this duplex located?
The property is located at 1312 E 14th St Greenville, NC.
What is the asking price?
The asking price for this property is $219,500.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 bathroom in each unit; 1,556 square feet on a 0.39‑acre lot; Brand‑new roof with shingle roofing
