Multi-Unit Multifamily
For Sale
$465,000
1806 Walker Ave, Greensboro, NC 27403
Occupied units provide an established rental-income profile near UNC-G and Greensboro amenities.
Property Size3,800 SF
Price / SF$122.37
Days on Market75
Property Features for 1806 Walker Ave
General Information
Standard status
Active
Size
3,800 SF
Property subtype
Multi-Family
Additional Details
Gross Income
$48,000
Building Details
Year Built
1926
Listing Agency:
Berkshire Hathaway HomeServices Yost & Little Realty
(336) 272-0151
Listed By:
Mark Yost
Source:
Searchhomesinthetriad
Added: Jun 19
Changed: Aug 31
Last Checked: Aug 31 at 5:26PM
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 Berkshire Hathaway HomeServices Yost & Little Realty
Investment Insights
Based on property information with market context.
This multifamily property at 1806 Walker Ave includes approximately 3,800 square feet across multiple units. Built in 1926, the property has existing tenants and generates ongoing rental income. The configuration also supports an owner-occupant arrangement with additional units available for rent, as described in the property information.
The property is located two blocks from UNC-G and is walkable to the university. Shopping, restaurants, downtown Greensboro, Friendly Center, hospitals, and parks are also identified as nearby destinations. Its location is within Greensboro, NC 27403.
The property is located two blocks from UNC-G and is walkable to the university. Shopping, restaurants, downtown Greensboro, Friendly Center, hospitals, and parks are also identified as nearby destinations. Its location is within Greensboro, NC 27403.
Key Highlights
- Approximately 3,800 square feet across multiple units
- Existing tenants provide ongoing rental income
- Two blocks from UNC‑G with walkable access
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
$31,894
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
6.86%
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%
$637,880
$637.9K
Cap Rate 7%
$455,629
$455.6K
Cap Rate 9%
$354,378
$354.4K
Market Conditions
NOI Build-Up for 3,800 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
$61.6K $16.20/SF
− Vacancy
−$3.6K −$0.94/SF
EGI
$58.0K $15.26/SF
− OpEx
−$26.1K −$6.87/SF
NOI
$31.9K $8.39/SF
Area
Greensboro, NC
Vacancy
5.80%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
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%
$637,880
Cap Rate 7%
$455,629
Cap Rate 9%
$354,378
Alternative Uses
Best Use
Apartment 5plus
$455.6K
$398.7K – $531.6K
NOI $31,894 @ 7.0% cap · market cap 6.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.20M
$1.05M – $1.41M
NOI $84,320 @ 7.0% cap · market cap 18.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
777
Businesses Nearby
Explore this area
Business Placement
Demographics for 27403, NC
23,679
Population
8,671
Households
2.7
Avg Household Size
28
Median Age
48%
College-Educated
88%
High-School Grad
5.8 sq mi
ZIP Area
4,083
Density / Sq Mi
$56,722
Median Household Income
$24,843
Median Earnings
$998
Median Rent
$218,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Occupied units provide an established rental-income profile near UNC-G and Greensboro amenities.
Where is this multifamily property located?
The property is located at 1806 Walker Ave Greensboro, NC.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: Approximately 3,800 square feet across multiple units; Existing tenants provide ongoing rental income; Two blocks from UNC‑G with walkable access
