New Construction Duplex With Separate
For Sale
$321,000
Pending
406 Foxtrace Lane, Hubert, NC 28539
Residential Income, Hubert, NC
Property Size1,654 SF
Lot Size0.30 Acres
Days on Market98
Property Features for 406 Foxtrace Lane
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning
R-10
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 1, Bathroom 2, Bedroom 3, Bedroom 4, Bedroom 2
Patio and Porch features
Porch
Interior features
Ceiling Fan(s), Pantry
Subdivision
Foxtrace
Elementary school
Sand Ridge
Middle school
Swansboro
High school
Swansboro
High school district
Onslow
Directions
From Hwy 24 turn onto Hwy 172, turn left onto Starling Rd, turn right onto Sand Ridge Rd, turn left onto Foxtrace, lot is on right.
Standard status
Pending
APN
1308-2.36
Size
1,654 SF
Lot size
0.30 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
FOXTRACE LN
Tax Annual Amount
262
Legal Description
FOXTRACE LN
Utilities
Heating system
Heat Pump (Heating), Electric (Heating)
Cooling system
Central Air
Amenities
covered front porch
Building Details
Year built
2026
Floors in Building
1
Number of units
2
Building materials
Vinyl Siding, Wood Frame
Roof type
Shingle
Listing Agency:
Simply Sold Realty
(920) 427-0852
Listed By:
Priscilla Mae Parrott · License #316327
(920) 427-0852
Added: May 15
Changed: Aug 19
Last Checked: Aug 20 at 5:06PM
MLS# 100574175
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.
New construction duplex currently under construction on a 0.3-acre lot in Hubert, North Carolina. The property is being built with mirror-image layouts for consistency between units. Each unit includes two bedrooms and one bathroom, with a functional interior layout featuring a pantry and ceiling fans. Separate entrances and a covered front porch add privacy and convenience for occupants.
Construction includes vinyl siding with wood-frame construction and a shingle roof. Heating is electric with heat pump, and cooling is provided by central air. The project is scheduled for completion with a stated year built of 2026.
Configured as a duplex, the building supports owner-occupant flexibility or rental income from both sides, with the separate entrances designed to simplify day-to-day use for each household.
Construction includes vinyl siding with wood-frame construction and a shingle roof. Heating is electric with heat pump, and cooling is provided by central air. The project is scheduled for completion with a stated year built of 2026.
Configured as a duplex, the building supports owner-occupant flexibility or rental income from both sides, with the separate entrances designed to simplify day-to-day use for each household.
Key Highlights
- Duplex under construction on 0.3 acres in R‑10 zoning
- Mirror‑image units with separate entrances and a covered front porch
- Each unit offers 2 bedrooms and 1 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
$16,542
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
5.15%
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%
$330,840
$330.8K
Cap Rate 7%
$236,314
$236.3K
Cap Rate 9%
$183,800
$183.8K
Market Conditions
NOI Build-Up for 1,654 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
$24.8K $15.00/SF
− Vacancy
−$1.2K −$0.71/SF
EGI
$23.6K $14.29/SF
− OpEx
−$7.1K −$4.29/SF
NOI
$16.5K $10.00/SF
Area
Onslow County, NC
Vacancy
4.75%
Lease Rate
$15.00 /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%
$330,840
Cap Rate 7%
$236,314
Cap Rate 9%
$183,800
Alternative Uses
Best Use
Multifamily LT 5
$236.3K
$206.8K – $275.7K
NOI $16,542 @ 7.0% cap · market cap 5.15%
Second Best
Apartment 5plus
$214.8K
$188.0K – $250.6K
NOI $15,037 @ 7.0% cap · market cap 4.68%
Theoretical Best
Office A
$359.3K
$314.4K – $419.2K
NOI $25,151 @ 7.0% cap · market cap 7.84%
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
66
Businesses Nearby
Explore this area
Business Placement
Demographics for 28539, NC
17,039
Population
8,091
Households
2.1
Avg Household Size
34
Median Age
22%
College-Educated
90%
High-School Grad
77.1 sq mi
ZIP Area
221
Density / Sq Mi
$61,280
Median Household Income
$43,082
Median Earnings
$1,176
Median Rent
$207,200
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 - New construction duplex on R-10 zoning with separate entrances, covered porch, and two-bedroom, one-bath units.
Where is this duplex located?
The property is located at 406 Foxtrace Lane Hubert, NC.
What is the asking price?
The asking price for this property is $321,000.
What are key features of this property?
This property features: Duplex under construction on 0.3 acres in R‑10 zoning; Mirror‑image units with separate entrances and a covered front porch; Each unit offers 2 bedrooms and 1 bathroom
