Tenant-Occupied Two-Bedroom
For Sale
$249,000
500-502 Williams Street, Jacksonville, NC 28540
MULTI_FAMILY - Jacksonville, NC
Property Size1,500 SF
Lot Size0.31 Acres
Price / SF$166
Days on Market94
Property Features for 500-502 Williams Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Rmf-Ld
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 3, Bedroom 4, Bedroom 1, Bedroom 2
Parking features
Off Street
Patio and Porch features
Porch
Interior features
Wash/Dry Connect, Ceiling Fan(s), Blinds/Shades
Appliances
Electric Oven, Refrigerator
Subdivision
Northwoods
Lot features
Corner Lot
Elementary school
Northwoods
Middle school
Northwoods Park
High school
Jacksonville
High school district
Onslow
Directions
N Marine Blvd to Onslow Dr to Henderson Dr to Williams St
Standard status
Active
APN
417-113
Size
1,500 SF
Lot size
0.31 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
L1 BF NORTHWOODS
Legal Description
L1 BF NORTHWOODS
Utilities
Heating system
Forced Air, Heat Pump (Heating), Electric (Heating)
Cooling system
Central Air, Heat Pump
Building Details
Year built
1954
Floors in Building
1
Number of units
2
Building materials
Vinyl Siding, Wood Frame
Roof type
Shingle
Listing Agency:
Joe Powers Realty
(910) 934-0339
Listed By:
Jaclyn Cook · License #365696
(910) 382-2777
Added: May 14
Changed: Aug 15
Last Checked: Aug 15 at 7:06PM
MLS# 100573911
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.
Tenant-occupied duplex located in Jacksonville city limits, offering income potential from day one. Each unit features two bedrooms and one bath. One side has recently been updated, while the other provides additional value-add opportunity. The property includes a porch and off-street parking.
The duplex sits on a 0.31-acre lot and was built in 1954. Exterior materials include vinyl siding with wood frame construction and a shingle roof. Interior features include wash/dry connections, ceiling fans, and blinds/shades, and appliances include an electric oven and refrigerator.
Heating is provided by electric systems, heat pump, and forced air, with cooling through heat pump and central air. Zoned Rmf-Ld, the property is described as being conveniently located near shopping, dining, schools, and major commuter routes. Inquire with your agent regarding current lease terms.
The duplex sits on a 0.31-acre lot and was built in 1954. Exterior materials include vinyl siding with wood frame construction and a shingle roof. Interior features include wash/dry connections, ceiling fans, and blinds/shades, and appliances include an electric oven and refrigerator.
Heating is provided by electric systems, heat pump, and forced air, with cooling through heat pump and central air. Zoned Rmf-Ld, the property is described as being conveniently located near shopping, dining, schools, and major commuter routes. Inquire with your agent regarding current lease terms.
Key Highlights
- Tenant‑occupied duplex with two bedrooms and one bath per unit
- Recently updated one side; the other side offers value‑add opportunity
- 0.31‑acre lot with off‑street parking and a porch
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
$15,002
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
6.02%
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%
$300,040
$300.0K
Cap Rate 7%
$214,314
$214.3K
Cap Rate 9%
$166,689
$166.7K
Market Conditions
NOI Build-Up for 1,500 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
$22.5K $15.00/SF
− Vacancy
−$1.1K −$0.71/SF
EGI
$21.4K $14.29/SF
− OpEx
−$6.4K −$4.29/SF
NOI
$15.0K $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%
$300,040
Cap Rate 7%
$214,314
Cap Rate 9%
$166,689
Alternative Uses
Best Use
Multifamily LT 5
$214.3K
$187.5K – $250.0K
NOI $15,002 @ 7.0% cap · market cap 6.02%
Second Best
Apartment 5plus
$194.8K
$170.5K – $227.3K
NOI $13,637 @ 7.0% cap · market cap 5.48%
Theoretical Best
Office A
$325.9K
$285.1K – $380.2K
NOI $22,810 @ 7.0% cap · market cap 9.16%
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
364
Businesses Nearby
Explore this area
Business Placement
Demographics for 28540, NC
49,739
Population
21,466
Households
2.3
Avg Household Size
32
Median Age
23%
College-Educated
92%
High-School Grad
110.3 sq mi
ZIP Area
451
Density / Sq Mi
$61,462
Median Household Income
$32,313
Median Earnings
$1,014
Median Rent
$201,700
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 - Tenant-occupied duplex with two bedrooms and one bath per unit, off-street parking, porch, and electric/heat pump comfort systems.
Where is this duplex located?
The property is located at 500-502 Williams Street Jacksonville, NC.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: Tenant‑occupied duplex with two bedrooms and one bath per unit; Recently updated one side; the other side offers value‑add opportunity; 0.31‑acre lot with off‑street parking and a porch
