Occupied Duplex
For Sale
$185,000
1703 Birchwood Drive SE, Wilson, NC 27893
Residential Income, Wilson, NC
Property Size1,632 SF
Lot Size0.21 Acres
Price / SF$113.36
Days on Market355
Property Features for 1703 Birchwood Drive SE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
MultiFam/Resid
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 1, Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 4
Parking features
Off Street
Subdivision
Not In Subdivision
Elementary school
Barnes
Middle school
Darden
High school
Beddingfield
Directions
Ward Blvd. to Stantonsburg Circle, become Stantonsburg Road, turn left onto Snowden Dr., right onto Birchwood Dr., properties on the left and right. No signs.
Standard status
Active
APN
3721-73-2600.000
Size
1,632 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
1703 BIRCHWOOD DR SE L30S2 SPRINGFIELD 1.00LT
Tax Annual Amount
1283
Legal Description
1703 BIRCHWOOD DR SE L30S2 SPRINGFIELD 1.00LT
Utilities
Heating system
Electric (Heating), Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1982
Floors in Building
1
Number of units
2
Building materials
Brick, Wood Frame
Roof type
Composition
Listing Agency:
Chesson Realty
(252) 291-3600
Listed By:
Cec Hottovy · License #272222
(252) 290-0367
Added: Sep 25, 2025
Changed: Sep 12
Last Checked: Sep 14 at 9:06AM
MLS# 100532555
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.
The property at 1703 Birchwood Drive SE is a two-unit duplex containing 1,632 square feet on a 0.21-acre lot. Each unit provides two bedrooms and one bathroom, for a combined four bedrooms and two bathrooms. The building was constructed in 1982 with brick and wood-frame materials, central air, electric forced-air heat, a composition roof, public water, and off-street parking.
The duplex is located in Wilson, North Carolina, within the MultiFam/Resid zoning classification. Both units are currently occupied. The property is also included in a package offering of five Birchwood Drive duplexes, with the other properties built between 1982 and 1983 and each configured as two-bedroom, one-bath units.
The duplex is located in Wilson, North Carolina, within the MultiFam/Resid zoning classification. Both units are currently occupied. The property is also included in a package offering of five Birchwood Drive duplexes, with the other properties built between 1982 and 1983 and each configured as two-bedroom, one-bath units.
Key Highlights
- 1,632‑square‑foot duplex on a 0.21‑acre lot
- Two units with a combined 4 bedrooms and 2 bathrooms
- Both units currently occupied
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
$13,315
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
7.20%
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%
$266,300
$266.3K
Cap Rate 7%
$190,214
$190.2K
Cap Rate 9%
$147,944
$147.9K
Market Conditions
NOI Build-Up for 1,632 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
$20.6K $12.60/SF
− Vacancy
−$1.5K −$0.95/SF
EGI
$19.0K $11.66/SF
− OpEx
−$5.7K −$3.50/SF
NOI
$13.3K $8.16/SF
Area
Wilson County, NC
Vacancy
7.50%
Lease Rate
$12.60 /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%
$266,300
Cap Rate 7%
$190,214
Cap Rate 9%
$147,944
Alternative Uses
Best Use
Multifamily LT 5
$190.2K
$166.4K – $221.9K
NOI $13,315 @ 7.0% cap · market cap 7.20%
Second Best
Apartment 5plus
$176.0K
$154.0K – $205.4K
NOI $12,321 @ 7.0% cap · market cap 6.66%
Theoretical Best
Office A
$391.7K
$342.7K – $457.0K
NOI $27,419 @ 7.0% cap · market cap 14.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
10
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
192
Businesses Nearby
Explore this area
Business Placement
Demographics for 27893, NC
37,131
Population
18,383
Households
2
Avg Household Size
41
Median Age
15%
College-Educated
79%
High-School Grad
109.0 sq mi
ZIP Area
341
Density / Sq Mi
$40,180
Median Household Income
$31,197
Median Earnings
$894
Median Rent
$153,000
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 - Two-unit residential income property with brick construction, central air, and current occupancy.
Where is this duplex located?
The property is located at 1703 Birchwood Drive SE Wilson, NC.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: 1,632‑square‑foot duplex on a 0.21‑acre lot; Two units with a combined 4 bedrooms and 2 bathrooms; Both units currently occupied
