Three-Bedroom
For Sale
$449,000
Pending
408 E Waddell St, Selma, NC 27576
Two residential units feature matching three-bedroom layouts with two-and-a-half baths per side.
Property Size2,510 SF
Days on Market123
Property Features for 408 E Waddell St
General Information
Standard status
Pending
Size
2,510 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$5,136
Listing Agency:
Next Stage Realty
(781) 724-7223
Listed By:
Chris Murphy · License #293540
(781) 724-7223
Source:
Exprealty
Added: Apr 30
Changed: Aug 30
Last Checked: Aug 30 at 2:41AM
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 Next Stage Realty
Investment Insights
Based on property information with market context.
Constructed in 2023, this duplex contains two residential units. Each unit is configured with three bedrooms and two-and-a-half bathrooms, providing a consistent layout across both sides of the building.
The property is located at 408 E Waddell St in Selma, NC. It is offered as an individual building, with package-sale availability referenced for additional duplexes by the same seller.
The property is located at 408 E Waddell St in Selma, NC. It is offered as an individual building, with package-sale availability referenced for additional duplexes by the same seller.
Key Highlights
- 2023 construction
- Duplex building with 2 residential units
- Each side 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
$25,579
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
5.70%
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%
$511,580
$511.6K
Cap Rate 7%
$365,414
$365.4K
Cap Rate 9%
$284,211
$284.2K
Market Conditions
NOI Build-Up for 2,510 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
$38.6K $15.36/SF
− Vacancy
−$2.0K −$0.80/SF
EGI
$36.5K $14.56/SF
− OpEx
−$11.0K −$4.37/SF
NOI
$25.6K $10.19/SF
Area
Johnston County, NC
Vacancy
5.22%
Lease Rate
$15.36 /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%
$511,580
Cap Rate 7%
$365,414
Cap Rate 9%
$284,211
Alternative Uses
Best Use
Multifamily LT 5
$365.4K
$319.7K – $426.3K
NOI $25,579 @ 7.0% cap · market cap 5.70%
Second Best
Apartment 5plus
$315.3K
$275.9K – $367.9K
NOI $22,073 @ 7.0% cap · market cap 4.92%
Theoretical Best
Office A
$759.3K
$664.4K – $885.9K
NOI $53,153 @ 7.0% cap · market cap 11.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
302
Businesses Nearby
Explore this area
Business Placement
Demographics for 27576, NC
17,568
Population
7,911
Households
2.2
Avg Household Size
37
Median Age
18%
College-Educated
84%
High-School Grad
81.3 sq mi
ZIP Area
216
Density / Sq Mi
$62,044
Median Household Income
$39,262
Median Earnings
$874
Median Rent
$178,200
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 - Two residential units feature matching three-bedroom layouts with two-and-a-half baths per side.
Where is this duplex located?
The property is located at 408 E Waddell St Selma, NC.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: 2023 construction; Duplex building with 2 residential units; Each side includes 3 bedrooms and 2.5 baths
