Two-Unit Duplex
For Sale
$399,995
215/217 Lloyd Street, Holly Ridge, NC 28445
Residential Income, Holly Ridge, NC
Property Size2,400 SF
Lot Size0.48 Acres
Price / SF$166.66
Days on Market201
Property Features for 215/217 Lloyd Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-15A
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bathroom 1, Bedroom 2, Bedroom 6, Bedroom 4, Bathroom 2, Bedroom 3, Bathroom 3, Bedroom 5, Bedroom 1
Parking
2
Security features
Security Lighting
Patio and Porch features
Porch, Deck
Interior features
Ceiling Fan(s)
Appliances
Electric Oven, Electric Cooktop, Washer, Refrigerator, Dryer
Subdivision
Sholar Estates
Elementary school
Coastal Elementary
Middle school
Dixon
High school
Dixon
High school district
Onslow
Directions
From Hwy 17, turn onto Camp Davis Rd, then take a right onto Lloyd Street. Continue down Lloyd St, 215/217 Lloyd St will be on the left-hand side
Standard status
Active
APN
423711558797
Size
2,400 SF
Lot size
0.48 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
L17 P1 SHOLAR ESTATES
Legal Description
L17 P1 SHOLAR ESTATES
Utilities
Heating system
Electric (Heating), Heat Pump (Heating)
Cooling system
Central Air
Amenities
partial private fenced-in yard
Building Details
Year built
2009
Floors in Building
1
Number of units
2
Flooring type
Carpet, Lvt/lvp, Vinyl
Building materials
Vinyl Siding, Wood Frame
Roof type
Shingle
Listing Agency:
Salt Marsh Properties
(919) 355-8063
Listed By:
Ariana Blevins · License #339914
(910) 988-0146
Added: Feb 22
Changed: Sep 9
Last Checked: Sep 11 at 1:06AM
MLS# 100556084
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.
Built in 2009, this two-unit duplex contains 2,400 square feet on a 0.48-acre parcel. The property is occupied by long-term tenants and includes a partial private fenced yard, deck, and porch. Interior features include ceiling fans, central air, heat pumps, electric systems, vinyl and carpet flooring, and a practical appliance package with a washer, dryer, refrigerator, electric oven, and electric cooktop.
The property is located at 215/217 Lloyd Street in Holly Ridge, with access to Hwy 17 and proximity to Surf City beaches. The duplex is zoned R-15A and features vinyl siding, wood-frame construction, and a shingle roof.
The property is located at 215/217 Lloyd Street in Holly Ridge, with access to Hwy 17 and proximity to Surf City beaches. The duplex is zoned R-15A and features vinyl siding, wood-frame construction, and a shingle roof.
Key Highlights
- Two‑unit duplex totaling 2,400 square feet
- 0.48‑acre parcel in Holly Ridge, NC
- Occupied by long‑term tenants
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
$24,003
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
6.00%
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%
$480,060
$480.1K
Cap Rate 7%
$342,900
$342.9K
Cap Rate 9%
$266,700
$266.7K
Market Conditions
NOI Build-Up for 2,400 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
$36.0K $15.00/SF
− Vacancy
−$1.7K −$0.71/SF
EGI
$34.3K $14.29/SF
− OpEx
−$10.3K −$4.29/SF
NOI
$24.0K $10.00/SF
Area
Onslow County, NC
Vacancy
4.75%
Lease Rate
$15.00 /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%
$480,060
Cap Rate 7%
$342,900
Cap Rate 9%
$266,700
Alternative Uses
Best Use
Multifamily LT 5
$342.9K
$300.0K – $400.1K
NOI $24,003 @ 7.0% cap · market cap 6.00%
Second Best
Apartment 5plus
$311.7K
$272.8K – $363.7K
NOI $21,820 @ 7.0% cap · market cap 5.46%
Theoretical Best
Office A
$521.4K
$456.2K – $608.3K
NOI $36,495 @ 7.0% cap · market cap 9.12%
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
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
168
Businesses Nearby
Explore this area
Business Placement
Demographics for 28445, NC
10,243
Population
8,832
Households
1.2
Avg Household Size
38
Median Age
42%
College-Educated
92%
High-School Grad
103.7 sq mi
ZIP Area
99
Density / Sq Mi
$89,250
Median Household Income
$56,844
Median Earnings
$1,318
Median Rent
$332,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Occupied duplex with long-term tenants, outdoor space, and convenient access to Hwy 17 in Holly Ridge.
Where is this duplex located?
The property is located at 215/217 Lloyd Street Holly Ridge, NC.
What is the asking price?
The asking price for this property is $399,995.
What are key features of this property?
This property features: Two‑unit duplex totaling 2,400 square feet; 0.48‑acre parcel in Holly Ridge, NC; Occupied by long‑term tenants
