Two-Unit Duplex with Separate
For Sale
$300,000
2134 Rock Avenue, Fayetteville, NC 28303
MULTI_FAMILY - Other - Fayetteville, NC
Property Size1,968 SF
Lot Size0.23 Acres
Price / SF$152.44
Days on Market58
Property Features for 2134 Rock Avenue
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 2, Bedroom 1, Bathroom 1, Bathroom 2
Parking features
Garage
Patio and Porch features
Porch
Fireplace
1
Appliances
Dryer, FreeStandingElectricRange, FreeStandingRefrigerator
Subdivision
HAYMOUNT
Lot features
Less Than Quarter Acre, Level, Partially Cleared
Elementary school
Alamance - Alexander Wilson
Middle school
Max Abbott Middle School
High school
Terry Sanford Senior High
Standard status
Active
APN
0427-48-4376
Size
1,968 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Description
MARKET HOUSE PROPERTIES LLC RECOMB LO:21 PL:0148-0131
Legal Description
MARKET HOUSE PROPERTIES LLC RECOMB LO:21 PL:0148-0131
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1952
Building materials
VinylSiding
Architectural style
Other
Listing Agency:
TOWNSEND REAL ESTATE
(910) 323-1110
Listed By:
JENNIFER YUNUS · License #302148
(215) 767-3893
Added: Jun 19
Changed: Aug 3
Last Checked: Aug 15 at 3:06AM
MLS# 764577
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.
2134 & 2136 Rock Ave is a Haymount duplex built in 1952, offering two separate homes under one roof with separate utilities. The front unit features 2 bedrooms and 1 bathroom, along with a spacious covered front porch. The back unit offers 1 bedroom and 1 bathroom plus a sunroom space. Both units are currently occupied.
The property sits on a 0.23-acre lot and totals 1,968 square feet. Updates are referenced as providing move-in readiness. Exterior materials include vinyl siding, and the home includes a fireplace. Heating is natural gas, with central air and electric cooling. Public water and public sewer are available. Parking features include a garage.
Household appliances noted include a dryer, a free-standing electric range, and a free-standing refrigerator. The property is presented as conveniently located near Fort Bragg, downtown Fayetteville, and within walking distance of Terry Sanford High School and Fayetteville Technical Community College.
The property sits on a 0.23-acre lot and totals 1,968 square feet. Updates are referenced as providing move-in readiness. Exterior materials include vinyl siding, and the home includes a fireplace. Heating is natural gas, with central air and electric cooling. Public water and public sewer are available. Parking features include a garage.
Household appliances noted include a dryer, a free-standing electric range, and a free-standing refrigerator. The property is presented as conveniently located near Fort Bragg, downtown Fayetteville, and within walking distance of Terry Sanford High School and Fayetteville Technical Community College.
Key Highlights
- Two occupied units with separate utilities
- Front unit: 2 bedrooms, 1 bathroom and a covered front porch
- Back unit: 1 bedroom, 1 bathroom and a sunroom
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
$17,963
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
5.99%
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%
$359,260
$359.3K
Cap Rate 7%
$256,614
$256.6K
Cap Rate 9%
$199,589
$199.6K
Market Conditions
NOI Build-Up for 1,968 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
$27.2K $13.80/SF
− Vacancy
−$1.5K −$0.76/SF
EGI
$25.7K $13.04/SF
− OpEx
−$7.7K −$3.91/SF
NOI
$18.0K $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%
$359,260
Cap Rate 7%
$256,614
Cap Rate 9%
$199,589
Alternative Uses
Best Use
Multifamily LT 5
$256.6K
$224.5K – $299.4K
NOI $17,963 @ 7.0% cap · market cap 5.99%
Second Best
Apartment 5plus
$236.0K
$206.5K – $275.3K
NOI $16,518 @ 7.0% cap · market cap 5.51%
Theoretical Best
Office A
$431.3K
$377.4K – $503.2K
NOI $30,191 @ 7.0% cap · market cap 10.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
360
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 occupied units with separate utilities, including a 2-bedroom front unit and 1-bedroom rear unit with a sunroom.
Where is this duplex located?
The property is located at 2134 Rock Avenue Fayetteville, NC.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Two occupied units with separate utilities; Front unit: 2 bedrooms, 1 bathroom and a covered front porch; Back unit: 1 bedroom, 1 bathroom and a sunroom
