New Construction
For Sale
$499,900
302-304 S Miller Ave, Goldsboro, NC 27530
Two three-bedroom residences provide open layouts, updated finishes, and efficient systems for residential income use.
Property Size3,122 SF
Price / SF$160.12
Days on Market31
Property Features for 302-304 S Miller Ave
General Information
Standard status
Active
Size
3,122 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
2026
Listing Agency:
(919) 332-5447
Listed By:
Hope Tyler Home Team
(919) 332-5447
Source:
Hopetylerhometeam
Added: Aug 1
Changed: Aug 30
Last Checked: Aug 26 at 12:41PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Hope Tyler Home Team
Investment Insights
Based on property information with market context.
Located at 302-304 S Miller Ave in Goldsboro, this 2026 duplex contains 3,122 square feet across two residential units. Each residence includes 3 bedrooms and an open-concept living arrangement, with modern finishes, appliances, and efficient building systems throughout.
The property offers convenient access to Raleigh via 70 and is positioned near local amenities. Its two-unit configuration supports a range of residential ownership and occupancy arrangements, including owner use, multigenerational living, or rental operation.
The property offers convenient access to Raleigh via 70 and is positioned near local amenities. Its two-unit configuration supports a range of residential ownership and occupancy arrangements, including owner use, multigenerational living, or rental operation.
Key Highlights
- Two‑unit duplex completed in 2026
- 3,122 square feet across the property
- Each unit includes 3 bedrooms
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
$27,261
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
5.45%
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%
$545,220
$545.2K
Cap Rate 7%
$389,443
$389.4K
Cap Rate 9%
$302,900
$302.9K
Market Conditions
NOI Build-Up for 3,122 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
$41.2K $13.20/SF
− Vacancy
−$2.3K −$0.73/SF
EGI
$38.9K $12.47/SF
− OpEx
−$11.7K −$3.74/SF
NOI
$27.3K $8.73/SF
Area
Wayne County, NC
Vacancy
5.50%
Lease Rate
$13.20 /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%
$545,220
Cap Rate 7%
$389,443
Cap Rate 9%
$302,900
Alternative Uses
Best Use
Multifamily LT 5
$389.4K
$340.8K – $454.4K
NOI $27,261 @ 7.0% cap · market cap 5.45%
Second Best
Apartment 5plus
$363.5K
$318.1K – $424.1K
NOI $25,447 @ 7.0% cap · market cap 5.09%
Theoretical Best
Specialty Retail
$2.51M
$2.20M – $2.93M
NOI $175,699 @ 7.0% cap · market cap 35.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
214
Businesses Nearby
Explore this area
Business Placement
Demographics for 27530, NC
37,470
Population
17,796
Households
2.1
Avg Household Size
41
Median Age
22%
College-Educated
89%
High-School Grad
106.5 sq mi
ZIP Area
352
Density / Sq Mi
$55,507
Median Household Income
$37,696
Median Earnings
$827
Median Rent
$176,500
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 three-bedroom residences provide open layouts, updated finishes, and efficient systems for residential income use.
Where is this duplex located?
The property is located at 302-304 S Miller Ave Goldsboro, NC.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Two‑unit duplex completed in 2026; 3,122 square feet across the property; Each unit includes 3 bedrooms
