Renovated Triplex with Separate
New
For Sale
$224,900
203 Bruton St NE, Wilson, NC 27893
Three rent-ready units feature updated interiors, renovated kitchens, and renovated bathrooms.
Property Size2,460 SF
Price / SF$91.42
Days on Market5
Property Features for 203 Bruton St NE
General Information
Standard status
Active
Size
2,460 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
3
Building Details
Year Built
1924
Listing Agency:
Isaacs Realty LLC
Listed By:
Chris Isaacs · License #225559
(919) 255-8713
Source:
Myhomesearchtriangle
Added: Sep 7
Changed: Sep 10
Last Checked: Sep 10 at 8:43AM
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 Isaacs Realty LLC
Investment Insights
Based on property information with market context.
This 1924 triplex has been renovated across all three units, with updated flooring, refreshed kitchens and bathrooms, and new interior paint. Each residence is rent-ready and separately metered for both electricity and water, providing distinct utility service for the units.
The property is located less than a mile from Barton College and Wilson’s new professional baseball ballpark. Its three-unit configuration and updated interiors provide a straightforward multifamily layout for residential income use.
The property is located less than a mile from Barton College and Wilson’s new professional baseball ballpark. Its three-unit configuration and updated interiors provide a straightforward multifamily layout for residential income use.
Key Highlights
- Three‑unit triplex renovated with updated flooring, kitchens, bathrooms, and interior paint
- Each unit is rent‑ready
- Electricity and water are separately metered for every unit
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
$20,070
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
8.92%
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%
$401,400
$401.4K
Cap Rate 7%
$286,714
$286.7K
Cap Rate 9%
$223,000
$223.0K
Market Conditions
NOI Build-Up for 2,460 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
$31.0K $12.60/SF
− Vacancy
−$2.3K −$0.95/SF
EGI
$28.7K $11.66/SF
− OpEx
−$8.6K −$3.50/SF
NOI
$20.1K $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%
$401,400
Cap Rate 7%
$286,714
Cap Rate 9%
$223,000
Alternative Uses
Best Use
Multifamily LT 5
$286.7K
$250.9K – $334.5K
NOI $20,070 @ 7.0% cap · market cap 8.92%
Second Best
Apartment 5plus
$265.3K
$232.2K – $309.5K
NOI $18,572 @ 7.0% cap · market cap 8.26%
Theoretical Best
Office A
$590.4K
$516.6K – $688.8K
NOI $41,330 @ 7.0% cap · market cap 18.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
785
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?
Triplex - Three rent-ready units feature updated interiors, renovated kitchens, and renovated bathrooms.
Where is this triplex located?
The property is located at 203 Bruton St NE Wilson, NC.
What is the asking price?
The asking price for this property is $224,900.
What are key features of this property?
This property features: Three‑unit triplex renovated with updated flooring, kitchens, bathrooms, and interior paint; Each unit is rent‑ready; Electricity and water are separately metered for every unit
