Two-Unit Duplex
For Sale
$448,500
215 N Sellers Street, Selma, NC 27576
Residential Income, Selma, NC
Property Size2,550 SF
Lot Size0.18 Acres
Price / SF$175.88
Days on Market99
Property Features for 215 N Sellers Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
5
Full bathrooms
4
Half bathrooms
2
Rooms
Bathroom 4, Bedroom 6, Bedroom 5, Bathroom 2, Bathroom 6, Bedroom 1, Bathroom 1, Bedroom 4, Bathroom 3, Bathroom 5, Bedroom 3, Bedroom 2
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
261518-40-2673
Size
2,550 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
66/256
Tax Annual Amount
3940
Legal Description
66/256
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Building Details
Year built
2022
Floors in Building
2
Number of units
2
Flooring type
Carpet, Vinyl
Building materials
HardiPlank Type
Roof type
Shingle
Listing Agency:
Next Stage Realty
(919) 533-9797
Listed By:
Chris Murphy · License #293540
(781) 724-7223
Added: Jun 8
Changed: Sep 13
Last Checked: Sep 14 at 9:06AM
MLS# 10172625
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.
This 2,550-square-foot duplex was constructed in 2022 and contains two residences, each measuring approximately 1,255 square feet. Both sides feature three bedrooms and two-and-a-half bathrooms, with vinyl and carpet flooring, central air, HardiPlank-type exterior materials, and shingle roofing. The property occupies approximately 0.18 acres and is served by public water and public sewer.
Located at 215 N Sellers Street in Selma, North Carolina, the property is available as an individual building. Its two-residence configuration and established utility connections provide a clearly defined residential income property format. The building is offered with virtual staging images in the available marketing materials.
Located at 215 N Sellers Street in Selma, North Carolina, the property is available as an individual building. Its two-residence configuration and established utility connections provide a clearly defined residential income property format. The building is offered with virtual staging images in the available marketing materials.
Key Highlights
- Two‑residence duplex totaling 2,550 square feet
- Each unit is approximately 1,255 square feet with 3 bedrooms and 2.5 baths
- Constructed in 2022
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
$25,986
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
5.79%
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%
$519,720
$519.7K
Cap Rate 7%
$371,229
$371.2K
Cap Rate 9%
$288,733
$288.7K
Market Conditions
NOI Build-Up for 2,550 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
$39.2K $15.36/SF
− Vacancy
−$2.0K −$0.80/SF
EGI
$37.1K $14.56/SF
− OpEx
−$11.1K −$4.37/SF
NOI
$26.0K $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%
$519,720
Cap Rate 7%
$371,229
Cap Rate 9%
$288,733
Alternative Uses
Best Use
Multifamily LT 5
$371.2K
$324.8K – $433.1K
NOI $25,986 @ 7.0% cap · market cap 5.79%
Second Best
Apartment 5plus
$320.4K
$280.3K – $373.8K
NOI $22,425 @ 7.0% cap · market cap 5.00%
Theoretical Best
Office A
$771.4K
$675.0K – $900.0K
NOI $54,000 @ 7.0% cap · market cap 12.04%
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
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 - Built in 2022 with central air, public water, and public sewer.
Where is this duplex located?
The property is located at 215 N Sellers Street Selma, NC.
What is the asking price?
The asking price for this property is $448,500.
What are key features of this property?
This property features: Two‑residence duplex totaling 2,550 square feet; Each unit is approximately 1,255 square feet with 3 bedrooms and 2.5 baths; Constructed in 2022
