Two-Unit Duplex with Dual-Level
For Sale
$260,000
313 W Lewis Street A & B, Whiteville, NC 28472
Each residence provides two bedrooms, one bathroom, and living areas arranged across two floors.
Property Size2,105 SF
Price / SF$123.52
Days on Market35
Property Features for 313 W Lewis Street A & B
General Information
Standard status
Active
Size
2,105 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1937
Listing Agency:
Keller Williams Innovate-Wilmington
(910) 540-4569
Listed By:
Brandy Creech · License #336987
Source:
Bradberrygarnerrealestate
Added: Jul 28
Changed: Aug 28
Last Checked: Aug 30 at 8:31PM
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.
Built in 1937, this 2,105-square-foot duplex contains two separate residential units. Each unit includes two bedrooms, one bathroom, and living space distributed across both levels, creating a consistent layout on each side of the property.
The property is located at 313 W Lewis Street in Whiteville, NC 28472, with schools, shops, and parks nearby. The address is identified as 313 W Lewis Street A & B.
The property is located at 313 W Lewis Street in Whiteville, NC 28472, with schools, shops, and parks nearby. The address is identified as 313 W Lewis Street A & B.
Key Highlights
- Two‑unit duplex with 2,105 SF of total property size
- Each unit includes 2 bedrooms and 1 bathroom
- Both residences feature living areas on two levels
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
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
411
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence provides two bedrooms, one bathroom, and living areas arranged across two floors.
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‑unit duplex with 2,105 SF of total property size; Each unit includes 2 bedrooms and 1 bathroom; Both residences feature living areas on two levels
