Triplex Property With Three
For Sale
Under Contract
$160,000
4335 West Pine Street, Farmville, NC 27828
Residential Income, Farmville, NC
Property Size1,619 SF
Lot Size1.49 Acres
Price / SF$98.83
Days on Market48
Property Features for 4335 West Pine Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
res
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bedroom 5, Bathroom 3, Bedroom 6, Bedroom 2, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 3
Parking features
Paved or Surfaced
Patio and Porch features
Porch
Interior features
Wash/Dry Connect
Subdivision
Not In Subdivision
Elementary school
H.B. Sugg Elementary School
Middle school
Farmville Middle School
High school
Farmville Central High School
High school district
Pitt County Schools
Directions
corner of south Barrett and west pine
Standard status
Active Under Contract
APN
4617858026
Size
1,619 SF
Lot size
1.49 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
parcel # 05714
Legal Description
parcel # 05714
Utilities
Heating system
Space Heater
Cooling system
Window Unit(s), Wall/Window Unit(s)
Building Details
Year built
1920
Floors in Building
1
Number of units
3
Building materials
Vinyl Siding, Wood Siding, Wood Frame
Roof type
Metal, Composition
Listing Agency:
Lee and Harrell Real Estate Professionals
(252) 355-5006
Listed By:
Kevin Lee · License #186173
(252) 327-9668
Added: Jul 9
Changed: Aug 20
Last Checked: Aug 25 at 3:06AM
MLS# 100587647
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.
This residential income property consists of three separate homes on a 1.49-acre parcel, with 1,619 square feet of property size reported. The residences collectively include 6 bedrooms and 3 bathrooms. Improvements date to 1920 and feature vinyl and wood siding, wood-frame construction, metal and composition roofing, porches, and paved or surfaced parking. Interior amenities include washer and dryer connections, space-heater systems, and wall or window cooling units.
Located at 4335 West Pine Street in Farmville, the property is positioned in the downtown area. All three homes are tenant occupied under month-to-month arrangements, providing an existing residential occupancy profile. Residential zoning is identified as res.
Located at 4335 West Pine Street in Farmville, the property is positioned in the downtown area. All three homes are tenant occupied under month-to-month arrangements, providing an existing residential occupancy profile. Residential zoning is identified as res.
Key Highlights
- Three separate tenant‑occupied homes on one parcel
- 1.49‑acre residential‑zoned property
- 1,619 square feet of property size reported
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
$10,808
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
6.76%
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%
$216,160
$216.2K
Cap Rate 7%
$154,400
$154.4K
Cap Rate 9%
$120,089
$120.1K
Market Conditions
NOI Build-Up for 1,619 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
$16.5K $10.20/SF
− Vacancy
−$1.1K −$0.66/SF
EGI
$15.4K $9.54/SF
− OpEx
−$4.6K −$2.86/SF
NOI
$10.8K $6.68/SF
Area
Pitt County, NC
Vacancy
6.50%
Lease Rate
$10.20 /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%
$216,160
Cap Rate 7%
$154,400
Cap Rate 9%
$120,089
Alternative Uses
Best Use
Multifamily LT 5
$154.4K
$135.1K – $180.1K
NOI $10,808 @ 7.0% cap · market cap 6.76%
Second Best
Apartment 5plus
$143.8K
$125.8K – $167.8K
NOI $10,066 @ 7.0% cap · market cap 6.29%
Theoretical Best
Office A
$352.4K
$308.4K – $411.2K
NOI $24,670 @ 7.0% cap · market cap 15.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
333
Businesses Nearby
Explore this area
Business Placement
Demographics for 27828, NC
8,673
Population
4,006
Households
2.2
Avg Household Size
42
Median Age
20%
College-Educated
84%
High-School Grad
79.3 sq mi
ZIP Area
109
Density / Sq Mi
$53,523
Median Household Income
$36,970
Median Earnings
$947
Median Rent
$156,000
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?
Triplex - Three tenant-occupied residences on a residential-zoned parcel in downtown Farmville.
Where is this triplex located?
The property is located at 4335 West Pine Street Farmville, NC.
What is the asking price?
The asking price for this property is $160,000.
What are key features of this property?
This property features: Three separate tenant‑occupied homes on one parcel; 1.49‑acre residential‑zoned property; 1,619 square feet of property size reported
