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    Downtown Duplex with Two 2/2 Units Title is generated by Realmo AI

    175 W Connecticut Avenue, Southern Pines, NC 28387

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    Picture of Duplexes at 175 W Connecticut Avenue, Southern Pines, NC
    Pending
    $495,000

    MULTI_FAMILY - Southern Pines, NC

    Lot size:
    0.23 Acres
    Added:
    Jun 1, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 3 at 2:06 am

    Property Features for 175 W Connecticut Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    R
    Bedrooms
    4
    Bathrooms
    4
    Rooms
    Bathroom 1, Bedroom 1, Bedroom 4, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 3, Bedroom 2
    Parking
    2
    Parking features
    Off Street
    Patio and Porch features
    Porch
    Interior features
    Blinds/Shades
    Appliances
    Built-In Microwave, Refrigerator, Dishwasher
    Standard status
    Pending
    APN
    00037481
    Lot size
    0.23 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    BLK I 4 LOT 19 20

    Utilities

    Utilities
    Water Available
    Heating system
    Heat Pump (Heating), Forced Air, Natural Gas
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1895
    Floors in Building
    2
    Number of units
    2
    Building materials
    Composition, Shake Siding, Brick, Vinyl Siding, Wood Frame
    Roof type
    Metal

    We can help!

    Listing Contact
    Kyle Kline

    Listing agent Kyle Kline License #336848

    Listing office eXp Realty 109 Hay St, Greenville, NC

    Listing date Jun 1, 2026

    MLS# 100578522

    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

    • Downtown duplex built in 1895 with historic character
    • Layout offers 2 bedrooms and 2 bathrooms on each floor
    • Central air cooling with heat pump/forced air heating and natural gas
    • Metal roof; exterior materials include brick, vinyl siding, wood frame, and shake siding
    • Appliances included: built‑in microwave, refrigerator, and dishwasher
    • Public water available with off‑street parking and a porch

    Overview

    Located in downtown Southern Pines, this duplex offers historic character with a straightforward, income-oriented configuration. The property is arranged with a 2-bedroom, 2-bath unit on each floor, creating two self-contained residential spaces within the same building. That layout can support flexible occupancy and budgeting for owners seeking a practical multifamily hold.

    The home sits on a 0.23-acre lot and is zoned R. Situated at 175 W Connecticut Avenue in Moore County, the property’s downtown positioning can appeal to tenants who prefer to be close to local services and everyday conveniences.

    For buyers, this duplex presents a manageable ownership profile with two similar-sized units, each featuring two bedrooms and two bathrooms. It may also fit investors looking for a residential income property where unit-by-unit tenancy can be planned around the needs of renters seeking a comfortable, apartment-style setup. As a result, the asset can be a strong candidate for anyone pursuing Southern Pines rental housing with an easy-to-understand floor plan.
    Property Profile Location Intelligence

    Current Use by Public Records

    St Anthony of Padua ... Church

    Suggested Use

    Law Firm Real Estate Agency Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Southern Pines
    County
    Moore
    State
    North Carolina
    Longitude
    -79.390059
    Latitude
    35.176563

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    FAQs

    What type of property is this?
    Duplex - Duplex in Southern Pines with a well-suited layout: two 2-bedroom, 2-bath units, one per floor.
    Where is this duplex located?
    The property is located at 175 W Connecticut Avenue Southern Pines, NC.
    What is the asking price?
    The asking price for this property is $495,000.
    What are key features of this property?
    This property features: Downtown duplex built in 1895 with historic character; Layout offers 2 bedrooms and 2 bathrooms on each floor; Central air cooling with heat pump/forced air heating and natural gas
    (910) 315-3856
    We can help!
    Listing Contact
    Kyle Kline
    Real Estate License ID: 336848
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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