Tenant-Occupied
For Sale
$249,000
500-502 Williams Street, Jacksonville, NC 28540
Residential Income, Jacksonville, NC
Property Size1,500 SF
Lot Size0.31 Acres
Price / SF$166
Days on Market102
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
Bedroom 4, Bathroom 1, Bedroom 1, Bedroom 3, Bedroom 2, Bathroom 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
Heat Pump (Heating), Forced Air, Electric (Heating)
Cooling system
Heat Pump, Central Air
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 20
Last Checked: Aug 23 at 6:06PM
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.
Located within Jacksonville city limits, this tenant-occupied duplex provides 1,500 square feet across two residential units. Each unit includes two bedrooms and one bathroom, with one side recently updated. Interior features include wash/dry connections, ceiling fans, and blinds or shades. Electric ovens and refrigerators are included, while heating and cooling are provided by heat pumps with forced-air heating and central air. The property also includes a porch and off-street parking.
The 0.31-acre property is positioned near shopping, dining, schools, and major commuter routes. Built in 1954, the structure has vinyl siding over wood-frame construction and a shingle roof. Zoning is Rmf-Ld.
The 0.31-acre property is positioned near shopping, dining, schools, and major commuter routes. Built in 1954, the structure has vinyl siding over wood-frame construction and a shingle roof. Zoning is Rmf-Ld.
Key Highlights
- Two‑unit duplex with 1,500 square feet of property size
- Each unit includes 2 bedrooms and 1 bathroom
- Tenant‑occupied property within Jacksonville city limits
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
344
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 - Two-bedroom units offer individual baths, laundry hookups, and off-street parking near Jacksonville amenities.
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: Two‑unit duplex with 1,500 square feet of property size; Each unit includes 2 bedrooms and 1 bathroom; Tenant‑occupied property within Jacksonville city limits
