Two-Unit Duplex with Two-Story
For Sale
$260,000
313 W Lewis Street #A & B, Whiteville, NC 28472
Each residence provides living areas across two floors in a duplex configuration.
Property Size2,105 SF
Days on Market65
Property Features for 313 W Lewis Street #A & B
General Information
Standard status
Active
Size
2,105 SF
Property subtype
Multi Family Home
Zoning
X
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Building Size
2,105 SF
Year Built
1937
Stories
2
Units
2
Listing Agency:
Keller Williams Innovate-Wilmington
(910) 540-4569
Listed By:
Brandy Creech · License #336987
(910) 540-4569
Source:
Thomasrealtysold
Added: Jun 18
Changed: Aug 17
Last Checked: Aug 20 at 2:54PM
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 Keller Williams Innovate-Wilmington
Investment Insights
Based on property information with market context.
Located at 313 W Lewis Street in Whiteville, this 1937 duplex contains two distinct rental residences. Each residence includes two bedrooms, one bathroom, and living areas arranged across both levels, creating a two-story layout within each unit.
The property is situated near schools, shops, and parks. Zoning is identified as X. Separate residential layouts support the building’s existing duplex configuration and provide flexibility for occupancy by independent households.
The property is situated near schools, shops, and parks. Zoning is identified as X. Separate residential layouts support the building’s existing duplex configuration and provide flexibility for occupancy by independent households.
Key Highlights
- Two rental residences within one duplex property
- Each unit includes 2 bedrooms and 1 bathroom
- Living areas are arranged across both floors in each residence
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
$18,766
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
7.22%
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%
$375,320
$375.3K
Cap Rate 7%
$268,086
$268.1K
Cap Rate 9%
$208,511
$208.5K
Market Conditions
NOI Build-Up for 2,105 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
$28.5K $13.56/SF
− Vacancy
−$1.7K −$0.82/SF
EGI
$26.8K $12.74/SF
− OpEx
−$8.0K −$3.82/SF
NOI
$18.8K $8.91/SF
Area
Columbus County, NC
Vacancy
6.08%
Lease Rate
$13.56 /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%
$375,320
Cap Rate 7%
$268,086
Cap Rate 9%
$208,511
Alternative Uses
Best Use
Multifamily LT 5
$268.1K
$234.6K – $312.8K
NOI $18,766 @ 7.0% cap · market cap 7.22%
Second Best
Apartment 5plus
$237.8K
$208.1K – $277.4K
NOI $16,645 @ 7.0% cap · market cap 6.40%
Theoretical Best
Office A
$510.6K
$446.8K – $595.7K
NOI $35,744 @ 7.0% cap · market cap 13.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
Explore this area
Business Placement
Demographics for 28472, NC
17,308
Population
8,073
Households
2.1
Avg Household Size
44
Median Age
18%
College-Educated
91%
High-School Grad
197.9 sq mi
ZIP Area
87
Density / Sq Mi
$48,963
Median Household Income
$36,535
Median Earnings
$788
Median Rent
$141,000
Median Home Value
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 - Each residence provides living areas across two floors in a duplex configuration.
Where is this duplex located?
The property is located at 313 W Lewis Street #A & B Whiteville, NC.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: Two rental residences within one duplex property; Each unit includes 2 bedrooms and 1 bathroom; Living areas are arranged across both floors in each residence
