Four-Unit Apartment
For Sale
$360,000
302 Brazil St, Goldsboro, NC 27530
Four residences offer two bedrooms, one bathroom, private fenced yards, patios, and attached storage buildings.
Property Size2,968 SF
Price / SF$121.29
Days on Market11
Property Features for 302 Brazil St
General Information
Standard status
Active
Size
2,968 SF
Property subtype
Residential Income
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$1,347
Amenities
Private Fenced Backyard
Attached Storage Building
Large Patio
Listing Agency:
Reality realty Group LLC
(919) 285-1134
Listed By:
Yecenia Banegas
(984) 308-4418
Source:
Exprealty
Added: Aug 28
Changed: Sep 5
Last Checked: Sep 6 at 3:16PM
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 Reality realty Group LLC
Investment Insights
Based on property information with market context.
This four-unit residential income property at 302 Brazil St in Goldsboro, NC, includes four two-bedroom, one-bathroom residences. Each unit has a private fenced backyard, a large patio, and an attached 3-by-6-foot storage building. The property provides a consistent layout across all units, with outdoor space and dedicated storage incorporated into each residence.
Key Highlights
- Four‑unit property with four 2BR/1BA residences
- Private fenced backyard for each unit
- Each residence includes a 3x6 attached storage building
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
$25,916
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
7.20%
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%
$518,320
$518.3K
Cap Rate 7%
$370,229
$370.2K
Cap Rate 9%
$287,956
$288.0K
Market Conditions
NOI Build-Up for 2,968 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
$39.2K $13.20/SF
− Vacancy
−$2.2K −$0.73/SF
EGI
$37.0K $12.47/SF
− OpEx
−$11.1K −$3.74/SF
NOI
$25.9K $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%
$518,320
Cap Rate 7%
$370,229
Cap Rate 9%
$287,956
Alternative Uses
Best Use
Multifamily LT 5
$370.2K
$324.0K – $431.9K
NOI $25,916 @ 7.0% cap · market cap 7.20%
Second Best
Apartment 5plus
$345.6K
$302.4K – $403.2K
NOI $24,192 @ 7.0% cap · market cap 6.72%
Theoretical Best
Specialty Retail
$2.39M
$2.09M – $2.78M
NOI $167,032 @ 7.0% cap · market cap 46.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
950
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?
Quadplex - Four residences offer two bedrooms, one bathroom, private fenced yards, patios, and attached storage buildings.
Where is this quadplex located?
The property is located at 302 Brazil St Goldsboro, NC.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: Four‑unit property with four 2BR/1BA residences; Private fenced backyard for each unit; Each residence includes a 3x6 attached storage building
