Renovated Two-Unit
For Sale
$95,000
1911 Mcclellan Street, Greenville, NC 27834
Residential Income, Greenville, NC
Property Size910 SF
Lot Size0.10 Acres
Price / SF$104.40
Days on Market139
Property Features for 1911 Mcclellan Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Residential
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2
Parking features
Off Street
Patio and Porch features
Porch
Interior features
Ceiling Fan(s)
Exterior features
Thermal Doors
Appliances
Range
Subdivision
Not In Subdivision
Lot features
Interior Lot
Elementary school
Elmhurst
Middle school
E B Aycock
High school
J.H. Rose High School
High school district
Pitt County Schools
Directions
Head south on Evans Street, turn right onto W 14th Street, then left onto S Pitt Street. Turn right onto McClellan Avenue. Property will be on the right.
Standard status
Active
APN
004326
Size
910 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
Refer to deed
Tax Annual Amount
271
Legal Description
Refer to deed
Utilities
Utilities
Water Available
Heating system
Baseboard, Space Heater, Electric (Heating)
Water source
Public
Building Details
Year built
1955
Floors in Building
1
Number of units
2
Flooring type
Lvt/lvp
Building materials
Vinyl Siding, Wood Frame
Roof type
Shingle
Listing Agency:
Berkshire Hathaway HomeServices Prime Properties
(252) 321-1990
Listed By:
The Tingen Team · License #217303
(252) 321-6161
Added: Apr 7
Changed: Aug 19
Last Checked: Aug 22 at 11:06PM
MLS# 100565615
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.
This renovated two-unit duplex features two 1-bedroom, 1-bathroom units. Updates include new flooring, fresh paint, and new appliances in each unit, supported by interior features such as ceiling fan(s). Heating is electric with baseboard heat and space heaters, and the home includes a shingle roof. The exterior is vinyl siding with a wood frame, with thermal doors and a porch for outdoor access.
The property sits on a 0.1-acre lot and has a total size of 910 square feet. Parking is off street. Water service is available through public water.
The seller is currently working with Code Enforcement to satisfy outstanding requirements, including obtaining permits for the roof and water heater and completing any required inspections.
The property sits on a 0.1-acre lot and has a total size of 910 square feet. Parking is off street. Water service is available through public water.
The seller is currently working with Code Enforcement to satisfy outstanding requirements, including obtaining permits for the roof and water heater and completing any required inspections.
Key Highlights
- 0.1‑acre lot with 910 SF total duplex size
- Two 1‑bedroom, 1‑bath units with new flooring, fresh paint, and new appliances
- Electric baseboard heat plus space heaters
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
$6,075
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
6.39%
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%
$121,500
$121.5K
Cap Rate 7%
$86,786
$86.8K
Cap Rate 9%
$67,500
$67.5K
Market Conditions
NOI Build-Up for 910 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
$9.3K $10.20/SF
− Vacancy
−$603 −$0.66/SF
EGI
$8.7K $9.54/SF
− OpEx
−$2.6K −$2.86/SF
NOI
$6.1K $6.68/SF
Area
Pitt County, NC
Vacancy
6.50%
Lease Rate
$10.20 /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%
$121,500
Cap Rate 7%
$86,786
Cap Rate 9%
$67,500
Alternative Uses
Best Use
Multifamily LT 5
$86.8K
$75.9K – $101.3K
NOI $6,075 @ 7.0% cap · market cap 6.39%
Second Best
Apartment 5plus
$80.8K
$70.7K – $94.3K
NOI $5,658 @ 7.0% cap · market cap 5.96%
Theoretical Best
Office A
$198.1K
$173.3K – $231.1K
NOI $13,867 @ 7.0% cap · market cap 14.60%
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
854
Businesses Nearby
Explore this area
Business Placement
Demographics for 27834, NC
55,051
Population
27,368
Households
2
Avg Household Size
34
Median Age
28%
College-Educated
88%
High-School Grad
174.3 sq mi
ZIP Area
316
Density / Sq Mi
$48,081
Median Household Income
$36,755
Median Earnings
$941
Median Rent
$161,700
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 - Renovated duplex with two 1-bedroom, 1-bath units, updated flooring, paint, and appliances, plus off-street parking.
Where is this duplex located?
The property is located at 1911 Mcclellan Street Greenville, NC.
What is the asking price?
The asking price for this property is $95,000.
What are key features of this property?
This property features: 0.1‑acre lot with 910 SF total duplex size; Two 1‑bedroom, 1‑bath units with new flooring, fresh paint, and new appliances; Electric baseboard heat plus space heaters
