New Construction
For Sale
$230,000
408-A S Pine Street, Fremont, NC 27830
Two-unit property with open-concept layouts, updated appliances, and no HOA or subdivision restrictions.
Property Size1,901 SF
Price / SF$120.99
Days on Market466
Property Features for 408-A S Pine Street
General Information
Standard status
Active
Size
1,901 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$53
Building Details
Year Built
2024
Listing Agency:
Logos Family Realty LLC
(919) 607-8737
Listed By:
Claudio Acevedo · License #286002
(919) 607-8737
Source:
Exitrealty
Added: May 22, 2025
Changed: Aug 30
Last Checked: Aug 30 at 3:02AM
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 Logos Family Realty LLC
Investment Insights
Based on property information with market context.
Built in 2024, this duplex contains two separate units, each offering 1,901 square feet with three bedrooms and 2.5 bathrooms. Both residences feature open-concept interiors, new refrigerators, and flooring finished with LVP or ceramic tile. The property has no HOA and is not located within a subdivision. The seller will consider conveying the duplex together or offering the units individually.
The property is near I-795 and Route 42, with stated drive times of approximately 20 minutes to Wilson, 20 minutes to Goldsboro, 13 minutes to Kenly, and 45 minutes to Clayton, NC.
The property is near I-795 and Route 42, with stated drive times of approximately 20 minutes to Wilson, 20 minutes to Goldsboro, 13 minutes to Kenly, and 45 minutes to Clayton, NC.
Key Highlights
- Two‑unit duplex built in 2024
- Each unit contains 1,901 square feet, 3 bedrooms, and 2.5 baths
- Open‑concept layouts with LVP or ceramic flooring
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
$16,599
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%
$331,980
$332.0K
Cap Rate 7%
$237,129
$237.1K
Cap Rate 9%
$184,433
$184.4K
Market Conditions
NOI Build-Up for 1,901 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
$25.1K $13.20/SF
− Vacancy
−$1.4K −$0.73/SF
EGI
$23.7K $12.47/SF
− OpEx
−$7.1K −$3.74/SF
NOI
$16.6K $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%
$331,980
Cap Rate 7%
$237,129
Cap Rate 9%
$184,433
Alternative Uses
Best Use
Multifamily LT 5
$237.1K
$207.5K – $276.7K
NOI $16,599 @ 7.0% cap · market cap 7.22%
Second Best
Apartment 5plus
$221.4K
$193.7K – $258.3K
NOI $15,495 @ 7.0% cap · market cap 6.74%
Theoretical Best
Specialty Retail
$1.53M
$1.34M – $1.78M
NOI $106,984 @ 7.0% cap · market cap 46.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
125
Businesses Nearby
Explore this area
Business Placement
Demographics for 27830, NC
4,377
Population
2,083
Households
2.1
Avg Household Size
46
Median Age
18%
College-Educated
82%
High-School Grad
58.3 sq mi
ZIP Area
75
Density / Sq Mi
$51,115
Median Household Income
$38,085
Median Earnings
$807
Median Rent
$159,600
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-unit property with open-concept layouts, updated appliances, and no HOA or subdivision restrictions.
Where is this duplex located?
The property is located at 408-A S Pine Street Fremont, NC.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Two‑unit duplex built in 2024; Each unit contains 1,901 square feet, 3 bedrooms, and 2.5 baths; Open‑concept layouts with LVP or ceramic flooring
