Brick Duplex with Hardwood
For Sale
$208,000
Pending
1808 Finnegan Street, Fayetteville, NC 28303
MULTI_FAMILY - Other - Fayetteville, NC
Property Size1,589 SF
Lot Size0.13 Acres
Days on Market8
Property Features for 1808 Finnegan Street
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 1, Bedroom 1, Bedroom 4, Bathroom 2, Bedroom 2
Subdivision
LAFAYETTE HGTS
Lot features
Less Than Quarter Acre
Elementary school
Vanstory Hills Elementary (3-5)
Middle school
Max Abbott Middle School
High school
Terry Sanford Senior High
Directions
GPS is valid by address
Standard status
Pending
APN
0427-68-8355
Size
1,589 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Description
WERTHEIM LOB SE01 PL0070- 0070
Legal Description
WERTHEIM LOB SE01 PL0070- 0070
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Building Details
Year built
1951
Flooring type
Hardwood
Building materials
Brick
Architectural style
Other
Listing Agency:
TOWNSEND REAL ESTATE
(910) 323-1110
Listed By:
MICKEY MESSENGER · License #348043
(910) 651-0138
Added: Aug 4
Changed: Aug 7
Last Checked: Aug 11 at 8:06PM
MLS# 767318
Copyright © 2026 Longleaf Pine Realtors. 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 duplex contains 1,589 square feet on a 0.13-acre lot and was built in 1951. The brick construction includes hardwood flooring and central air. The layout provides four bedrooms and two bathrooms across the property, with the residence offered in its current as-is condition.
Public water and public sewer serve the property. Located in Fayetteville, the site is near schools, shopping, local amenities, and major routes. The existing improvements require updating, making the property suited to a buyer prepared to address repairs and verify condition, utilities, zoning, square footage, rental potential, and permitted use.
Public water and public sewer serve the property. Located in Fayetteville, the site is near schools, shopping, local amenities, and major routes. The existing improvements require updating, making the property suited to a buyer prepared to address repairs and verify condition, utilities, zoning, square footage, rental potential, and permitted use.
Key Highlights
- Duplex with 1,589 square feet of property area
- 0.13‑acre lot in Fayetteville, NC
- Four bedrooms and two bathrooms
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
$14,504
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
6.97%
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%
$290,080
$290.1K
Cap Rate 7%
$207,200
$207.2K
Cap Rate 9%
$161,156
$161.2K
Market Conditions
NOI Build-Up for 1,589 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
$21.9K $13.80/SF
− Vacancy
−$1.2K −$0.76/SF
EGI
$20.7K $13.04/SF
− OpEx
−$6.2K −$3.91/SF
NOI
$14.5K $9.13/SF
Area
Fayetteville, NC
Vacancy
5.51%
Lease Rate
$13.80 /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%
$290,080
Cap Rate 7%
$207,200
Cap Rate 9%
$161,156
Alternative Uses
Best Use
Multifamily LT 5
$207.2K
$181.3K – $241.7K
NOI $14,504 @ 7.0% cap · market cap 6.97%
Second Best
Apartment 5plus
$190.5K
$166.7K – $222.3K
NOI $13,337 @ 7.0% cap · market cap 6.41%
Theoretical Best
Office A
$348.2K
$304.7K – $406.3K
NOI $24,377 @ 7.0% cap · market cap 11.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
477
Businesses Nearby
Explore this area
Business Placement
Demographics for 28303, NC
30,842
Population
15,554
Households
2
Avg Household Size
36
Median Age
30%
College-Educated
94%
High-School Grad
15.4 sq mi
ZIP Area
2,003
Density / Sq Mi
$53,261
Median Household Income
$37,238
Median Earnings
$1,125
Median Rent
$174,900
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?
Duplex - Two-unit residential property with central air, public water and sewer, and an as-is sale condition.
Where is this duplex located?
The property is located at 1808 Finnegan Street Fayetteville, NC.
What is the asking price?
The asking price for this property is $208,000.
What are key features of this property?
This property features: Duplex with 1,589 square feet of property area; 0.13‑acre lot in Fayetteville, NC; Four bedrooms and two bathrooms
