Occupied Duplex with Fenced
For Sale
$399,995
215217 215/217 Lloyd St, Holly Ridge, NC 28445
Two-unit residential property with established occupants and a partial private fenced yard.
Property Size2,400 SF
Price / SF$166.66
Days on Market36
Property Features for 215217 215/217 Lloyd St
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Gross Income
$30,000
Highway Access
Yes
Multifamily Units
2
Amenities
fenced-in yard
Building Details
Year Built
2009
Listing Agency:
Salt Marsh Properties
Listed By:
Ariana Blevins · License #339914
(910) 988-0146
Source:
Barefootbrokers
Added: Aug 8
Changed: Sep 9
Last Checked: Sep 11 at 3:26PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Salt Marsh Properties
Investment Insights
Based on property information with market context.
Built in 2009, this 2,400-square-foot duplex is fully occupied with long-term tenants in place. The property includes a partial private fenced yard, providing dedicated outdoor space for residents.
Located in Holly Ridge, the duplex offers access to Hwy 17 and is positioned between Jacksonville and Wilmington. Surf City beaches are minutes away, placing the property within a coastal North Carolina setting with established regional connections.
Located in Holly Ridge, the duplex offers access to Hwy 17 and is positioned between Jacksonville and Wilmington. Surf City beaches are minutes away, placing the property within a coastal North Carolina setting with established regional connections.
Key Highlights
- Fully occupied duplex with long‑term tenants in place
- 2,400 square feet of property size
- Built in 2009
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
$24,003
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
6.00%
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%
$480,060
$480.1K
Cap Rate 7%
$342,900
$342.9K
Cap Rate 9%
$266,700
$266.7K
Market Conditions
NOI Build-Up for 2,400 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
$36.0K $15.00/SF
− Vacancy
−$1.7K −$0.71/SF
EGI
$34.3K $14.29/SF
− OpEx
−$10.3K −$4.29/SF
NOI
$24.0K $10.00/SF
Area
Onslow County, NC
Vacancy
4.75%
Lease Rate
$15.00 /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%
$480,060
Cap Rate 7%
$342,900
Cap Rate 9%
$266,700
Alternative Uses
Best Use
Multifamily LT 5
$342.9K
$300.0K – $400.1K
NOI $24,003 @ 7.0% cap · market cap 6.00%
Second Best
Apartment 5plus
$311.7K
$272.8K – $363.7K
NOI $21,820 @ 7.0% cap · market cap 5.46%
Theoretical Best
Office A
$521.4K
$456.2K – $608.3K
NOI $36,495 @ 7.0% cap · market cap 9.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
168
Businesses Nearby
Explore this area
Business Placement
Demographics for 28445, NC
10,243
Population
8,832
Households
1.2
Avg Household Size
38
Median Age
42%
College-Educated
92%
High-School Grad
103.7 sq mi
ZIP Area
99
Density / Sq Mi
$89,250
Median Household Income
$56,844
Median Earnings
$1,318
Median Rent
$332,500
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 - Two-unit residential property with established occupants and a partial private fenced yard.
Where is this duplex located?
The property is located at 215217 215/217 Lloyd St Holly Ridge, NC.
What is the asking price?
The asking price for this property is $399,995.
What are key features of this property?
This property features: Fully occupied duplex with long‑term tenants in place; 2,400 square feet of property size; Built in 2009
