Newly Built
For Sale
$514,000
203 N Sellers Street, Selma, NC 27576
Residential, Selma, NC
Property Size3,050 SF
Lot Size0.12 Acres
Price / SF$168.52
Days on Market95
Property Features for 203 N Sellers Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
8
Bathrooms
5
Full bathrooms
4
Half bathrooms
2
Rooms
Bathroom 2, Bedroom 6, Bedroom 1, Bathroom 3, Bedroom 5, Bedroom 4, Bedroom 8, Bathroom 1, Bedroom 3, Bathroom 4, Bedroom 2, Bathroom 5, Bedroom 7, Bathroom 6
Subdivision
To Be Added
Elementary school
Johnston - Selma Elementary
Middle school
Johnston - Selma Middle School
High school
Johnston - Smithfield Selma High
Standard status
Active
APN
14023059
Size
3,050 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Lot 2 101/295
Tax Annual Amount
1075
Legal Description
Lot 2 101/295
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Building Details
Year built
2024
Floors in Building
2
Flooring type
Carpet, Vinyl
Building materials
Vinyl Siding
Roof type
Shingle
Architectural style
Other
Listing Agency:
Next Stage Realty
(919) 533-9797
Listed By:
Chris Murphy · License #293540
(781) 724-7223
Added: Jul 3
Changed: Sep 22
Last Checked: Oct 5 at 11:06AM
MLS# 10177979
Copyright © 2026 Doorify 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.
Completed in 2024, this duplex contains two residential units within a 3,050-square-foot building. Each side offers four bedrooms and 2.5 baths, creating an eight-bedroom, five-bathroom configuration across the property. Interior finishes include vinyl and carpet flooring, while central air provides cooling. The exterior has vinyl siding and a shingle roof.
The property occupies 0.12 acres at 203 N Sellers Street in Selma, Johnston County, North Carolina. Public water and public sewer serve the building. The duplex is tenant-occupied, with current rental status available through the listing agent. It is one of seven duplex buildings offered by the same seller, with individual sale consideration noted for this property.
The property occupies 0.12 acres at 203 N Sellers Street in Selma, Johnston County, North Carolina. Public water and public sewer serve the building. The duplex is tenant-occupied, with current rental status available through the listing agent. It is one of seven duplex buildings offered by the same seller, with individual sale consideration noted for this property.
Key Highlights
- 2024‑built duplex with 3,050 square feet
- Two units, each with 4 bedrooms and 2.5 baths
- Eight bedrooms and five bathrooms across the building
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
$31,082
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
6.05%
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%
$621,640
$621.6K
Cap Rate 7%
$444,029
$444.0K
Cap Rate 9%
$345,356
$345.4K
Market Conditions
NOI Build-Up for 3,050 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
$46.8K $15.36/SF
− Vacancy
−$2.4K −$0.80/SF
EGI
$44.4K $14.56/SF
− OpEx
−$13.3K −$4.37/SF
NOI
$31.1K $10.19/SF
Area
Johnston County, NC
Vacancy
5.22%
Lease Rate
$15.36 /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%
$621,640
Cap Rate 7%
$444,029
Cap Rate 9%
$345,356
Alternative Uses
Best Use
Multifamily LT 5
$444.0K
$388.5K – $518.0K
NOI $31,082 @ 7.0% cap · market cap 6.05%
Second Best
Apartment 5plus
$383.2K
$335.3K – $447.0K
NOI $26,822 @ 7.0% cap · market cap 5.22%
Theoretical Best
Office A
$922.7K
$807.4K – $1.08M
NOI $64,589 @ 7.0% cap · market cap 12.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
324
Businesses Nearby
Explore this area
Business Placement
Demographics for 27576, NC
17,568
Population
7,911
Households
2.2
Avg Household Size
37
Median Age
18%
College-Educated
84%
High-School Grad
81.3 sq mi
ZIP Area
216
Density / Sq Mi
$62,044
Median Household Income
$39,262
Median Earnings
$874
Median Rent
$178,200
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential income property with spacious four-bedroom layouts and public water and sewer service.
Where is this duplex located?
The property is located at 203 N Sellers Street Selma, NC.
What is the asking price?
The asking price for this property is $514,000.
What are key features of this property?
This property features: 2024‑built duplex with 3,050 square feet; Two units, each with 4 bedrooms and 2.5 baths; Eight bedrooms and five bathrooms across the building
