Brick Duplex with Month-to-Month
For Sale
$220,000
204 Kristin Drive, Greenville, NC 27834
Residential Income, Greenville, NC
Property Size1,990 SF
Lot Size0.19 Acres
Price / SF$110.55
Days on Market97
Property Features for 204 Kristin Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R6
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Half bathrooms
2
Rooms
Bedroom 3, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 2, Bedroom 4, Bathroom 4, Bathroom 3
Parking features
Assigned
Patio and Porch features
Porch
Interior features
Wash/Dry Connect
Appliances
Electric Cooktop, Refrigerator, Dishwasher
Subdivision
Shenandoah
Lot features
Cul-De-Sac
Elementary school
Ridgewood Elementary School
Middle school
E B Aycock
High school
South Central (Winterville)
High school district
Pitt County Schools
Directions
Greenville Blvd. past Cracker Barrel towards Allen Road. Take right onto Kristin Drive. Unit on right.
Standard status
Active
APN
046459
Size
1,990 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SHENANDOAH
Tax Annual Amount
1461
Legal Description
SHENANDOAH
Utilities
Heating system
Heat Pump (Heating), Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1981
Floors in Building
2
Number of units
2
Flooring type
Lvt/lvp, Carpet
Building materials
Brick Veneer, Wood Frame
Roof type
Shingle
Listing Agency:
Grimes Real Estate Group
(252) 717-1418
Listed By:
Melissia Larson · License #246951
(252) 341-5102
Added: May 16
Changed: Aug 19
Last Checked: Aug 20 at 8:06PM
MLS# 100574718
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 1,990-square-foot duplex at 204 Kristin Drive contains two residential units with four bedrooms and four bathrooms overall. Built in 1981, the property has brick veneer and wood-frame construction, shingle roofing, central air, and electric heat pumps. Interior features include LVT/LVP flooring downstairs, carpet upstairs, washer/dryer connections, electric cooktops, refrigerators, and dishwashers. Each unit has assigned parking and porch access.
The property sits on 0.19 acres within Greenville city limits and is served by public water. Zoned R6, it is currently fully rented, with both tenant arrangements structured on a month-to-month basis. The property is located in Greenville, Pitt County, North Carolina.
The property sits on 0.19 acres within Greenville city limits and is served by public water. Zoned R6, it is currently fully rented, with both tenant arrangements structured on a month-to-month basis. The property is located in Greenville, Pitt County, North Carolina.
Key Highlights
- 1,990 SF duplex with two residential units
- Four bedrooms and four bathrooms overall
- Fully rented with both tenants on month‑to‑month arrangements
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
$13,285
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
6.04%
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%
$265,700
$265.7K
Cap Rate 7%
$189,786
$189.8K
Cap Rate 9%
$147,611
$147.6K
Market Conditions
NOI Build-Up for 1,990 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
$20.3K $10.20/SF
− Vacancy
−$1.3K −$0.66/SF
EGI
$19.0K $9.54/SF
− OpEx
−$5.7K −$2.86/SF
NOI
$13.3K $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%
$265,700
Cap Rate 7%
$189,786
Cap Rate 9%
$147,611
Alternative Uses
Best Use
Multifamily LT 5
$189.8K
$166.1K – $221.4K
NOI $13,285 @ 7.0% cap · market cap 6.04%
Second Best
Apartment 5plus
$176.7K
$154.7K – $206.2K
NOI $12,372 @ 7.0% cap · market cap 5.62%
Theoretical Best
Office A
$433.2K
$379.1K – $505.4K
NOI $30,324 @ 7.0% cap · market cap 13.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
298
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Fully occupied two-unit property with updated flooring, central air, assigned parking, and washer/dryer connections.
Where is this duplex located?
The property is located at 204 Kristin Drive Greenville, NC.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: 1,990 SF duplex with two residential units; Four bedrooms and four bathrooms overall; Fully rented with both tenants on month‑to‑month arrangements
