Building Details

Year Built 2024

Buildings 1

Listing Agency: Logos Family Realty LLC c***@gmail.com Show Phone

Listed By: Claudio Acevedo · License #286002 Show Phone

Source: Exitrealty

Added: May 22, 2025 Changed: Aug 30 Last Checked: Aug 30 at 12:58PM

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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 separately saleable residences, each offering 1901 sqft, three bedrooms, and two-and-a-half bathrooms. Both units use an open-concept layout with LVP or ceramic flooring and include a new refrigerator. The property is not subject to an HOA and is outside a subdivision setting.

Located at 408-B Pine Street in Fremont, the duplex provides access to I-795 and Route 42. The property is approximately 13 minutes from Kenly, 20 minutes from Wilson, 20 minutes from Goldsboro, and 45 minutes from Clayton, NC. The seller will consider transferring the complete duplex or either unit individually.

Key Highlights

• Built in 2024 with two individually saleable duplex units
• 1901 sqft EACH unit
• Each unit includes 3 bedrooms and 2.5 baths

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

6.51%

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 (±1% cap)

NOI $16,599 @ 7.0% cap · market cap 6.51%

Second Best

Apartment 5plus

$221.4K

$193.7K – $258.3K (±1% cap)

NOI $15,495 @ 7.0% cap · market cap 6.08%

Theoretical Best

Specialty Retail

$1.53M

$1.34M – $1.78M (±1% cap)

NOI $106,984 @ 7.0% cap · market cap 41.95%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Duplexes

Suggested Use

Top Pick HVAC Service Plumbing Service (Bike/Boat/Book/etc) Store Pharmacy Cafe & Coffee Shop Home Appliance Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Yes

Highway access

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

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Two individually saleable units feature open-plan interiors, modern flooring, and no HOA or subdivision restrictions.

Where is this duplex located?

The property is located at 408-B Pine Street Fremont, NC.

What is the asking price?

The asking price for this property is $255,000.

What are key features of this property?

This property features: Built in 2024 with two individually saleable duplex units; 1901 sqft EACH unit; Each unit includes 3 bedrooms and 2.5 baths