Duplex with Accessory
For Sale
$209,900
2801 Jefferson Drive, Greenville, NC 27858
Residential Income, Greenville, NC
Property Size1,602 SF
Lot Size0.22 Acres
Price / SF$131.02
Days on Market256
Property Features for 2801 Jefferson Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R9
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 1
Parking
2
Parking features
Tandem, Garage, Driveway
Patio and Porch features
Porch, Deck
Interior features
Master Downstairs, Wash/Dry Connect, 2nd Kitchen, Apt/Suite, Ceiling Fan(s), Eat-in Kitchen
Exterior features
Mail on Site
Fencing
Fenced, Chain Link
Fireplace
1
Appliances
Electric Oven, Range, Dishwasher
Subdivision
Colonial Heights
Lot features
Interior Lot, Wooded
Elementary school
Eastern
Middle school
C.M. Eppes Middle School
High school
J.H. Rose High School
High school district
Pitt County Schools
Directions
ECU Student Center Main Campus 501 E 10th St, Greenville, NC 27858. Head East on 10th Street, turn right on Monroe St 1.5m, turn left on Jefferson Dr 500 feet, the destination will be on your left 500 feet.
Standard status
Active
APN
009145
Size
1,602 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
COLONIAL HEIGHTS
Tax Annual Amount
2148
Legal Description
COLONIAL HEIGHTS
Utilities
Heating system
Heat Pump (Heating), Baseboard, Electric (Heating)
Cooling system
Window Unit(s), Central Air, Ceiling Fan(s), Heat Pump, Wall/Window Unit(s)
Water source
Public
Amenities
rear deck
fenced yard
washer & dryer hookups
front porch
Building Details
Year built
1956
Floors in Building
2
Number of units
2
Flooring type
Carpet, Lvt/lvp, Hardwood, Vinyl
Building materials
Brick Veneer, Vinyl Siding, Wood Frame
Roof type
Composition
Listing Agency:
RAMSEY SMITH GROUP
Listed By:
TODD RAMSEY · License #118600
(252) 916-2151
Added: Jan 22
Changed: Oct 4
Last Checked: Oct 5 at 5:06AM
MLS# 100550769
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 two-unit property combines a three-bedroom, one-bathroom main residence with a one-bedroom, one-bathroom accessory dwelling above the tandem garage. The main home includes a living room, kitchen, front porch, rear deck, and fenced yard. The upper unit has its own living room, kitchen, front porch, and two separate entrances. Each unit has a separate electrical meter. The tandem garage has washer and dryer hookups.
The property occupies 0.22 acres in Greenville, with East Carolina University located within a mile. Zoning is R9. Built in 1956, the property totals 1,602 square feet: 1,059 square feet in the main residence and 543 square feet in the accessory unit.
The property occupies 0.22 acres in Greenville, with East Carolina University located within a mile. Zoning is R9. Built in 1956, the property totals 1,602 square feet: 1,059 square feet in the main residence and 543 square feet in the accessory unit.
Key Highlights
- Two residences totaling 1,602 square feet on a 0.22‑acre lot
- Main home: 1,059 heated square feet, three bedrooms, and one full bathroom
- Upper accessory unit: 543 heated square feet, one bedroom, and one full bathroom
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
$10,695
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
5.10%
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%
$213,900
$213.9K
Cap Rate 7%
$152,786
$152.8K
Cap Rate 9%
$118,833
$118.8K
Market Conditions
NOI Build-Up for 1,602 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
$16.3K $10.20/SF
− Vacancy
−$1.1K −$0.66/SF
EGI
$15.3K $9.54/SF
− OpEx
−$4.6K −$2.86/SF
NOI
$10.7K $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%
$213,900
Cap Rate 7%
$152,786
Cap Rate 9%
$118,833
Alternative Uses
Best Use
Multifamily LT 5
$152.8K
$133.7K – $178.3K
NOI $10,695 @ 7.0% cap · market cap 5.10%
Second Best
Apartment 5plus
$142.3K
$124.5K – $166.0K
NOI $9,960 @ 7.0% cap · market cap 4.75%
Theoretical Best
Office A
$348.7K
$305.1K – $406.9K
NOI $24,411 @ 7.0% cap · market cap 11.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
468
Businesses Nearby
Explore this area
Business Placement
Demographics for 27858, NC
52,857
Population
26,281
Households
2
Avg Household Size
31
Median Age
46%
College-Educated
94%
High-School Grad
61.4 sq mi
ZIP Area
861
Density / Sq Mi
$60,915
Median Household Income
$34,598
Median Earnings
$1,042
Median Rent
$233,200
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two separately metered residences pair a three-bedroom main home with an upstairs one-bedroom unit.
Where is this duplex located?
The property is located at 2801 Jefferson Drive Greenville, NC.
What is the asking price?
The asking price for this property is $209,900.
What are key features of this property?
This property features: Two residences totaling 1,602 square feet on a 0.22‑acre lot; Main home: 1,059 heated square feet, three bedrooms, and one full bathroom; Upper accessory unit: 543 heated square feet, one bedroom, and one full bathroom
