Duplex with Two-Bedroom
For Sale
$275,000
509 Martine Road, Fayetteville, NC 28305
MULTI_FAMILY - Other - Fayetteville, NC
Property Size1,624 SF
Price / SF$169.33
Days on Market15
Property Features for 509 Martine Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
SF6 - Single Family Res 6
Exterior features
Fence
Fencing
Fenced
Subdivision
FAYETTEVILLE
Elementary school
Vanstory Hills Elementary (3-5)
Middle school
Max Abbott Middle School
High school
Terry Sanford Senior High
Standard status
Active
APN
0427-88-6041
Taxes and HOA fees
Tax Description
HUSKE HEIGHTS LO: 23 24 SE:01 BL:A PL:0009-0037
Legal Description
HUSKE HEIGHTS LO: 23 24 SE:01 BL:A PL:0009-0037
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Water source
Public
Building Details
Year built
1948
Number of units
2
Building materials
BrickVeneer, Frame
Architectural style
Other
Listing Agency:
FRANKLIN JOHNSON COMMERCIAL REAL ESTATE
(910) 864-2626
Listed By:
ROSA APONTE · License #255151
(910) 257-6035
Added: Aug 4
Changed: Aug 18
Last Checked: Aug 18 at 9:06PM
MLS# 767143
Copyright © 2026 Longleaf Pine Realtors. 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 at 509 Martine Road, this duplex includes two separate units, each with two bedrooms and one bathroom. The property offers approximately 1,624 square feet of total living space and was built in 1948. Brick veneer and frame construction, a fenced exterior, heat-pump heating, public water, and public sewer are documented features.
The property is situated in Fayetteville’s Haymount community near Historic Downtown Fayetteville, Mazarick Park, Festival Park, North Carolina Veterans Park, Cape Fear Regional Theatre, hospitals, Fayetteville State University, major employers, and Fort Bragg. The listing identifies the duplex as an income-producing property and notes that showings require 24 hours’ notice.
The property is situated in Fayetteville’s Haymount community near Historic Downtown Fayetteville, Mazarick Park, Festival Park, North Carolina Veterans Park, Cape Fear Regional Theatre, hospitals, Fayetteville State University, major employers, and Fort Bragg. The listing identifies the duplex as an income-producing property and notes that showings require 24 hours’ notice.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bathroom in each unit
- Approximately 1,624 square feet of total living space
- Built in 1948 with brick veneer and frame construction
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
$14,823
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
5.39%
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%
$296,460
$296.5K
Cap Rate 7%
$211,757
$211.8K
Cap Rate 9%
$164,700
$164.7K
Market Conditions
NOI Build-Up for 1,624 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
$22.4K $13.80/SF
− Vacancy
−$1.2K −$0.76/SF
EGI
$21.2K $13.04/SF
− OpEx
−$6.4K −$3.91/SF
NOI
$14.8K $9.13/SF
Area
Fayetteville, NC
Vacancy
5.51%
Lease Rate
$13.80 /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%
$296,460
Cap Rate 7%
$211,757
Cap Rate 9%
$164,700
Alternative Uses
Best Use
Multifamily LT 5
$211.8K
$185.3K – $247.1K
NOI $14,823 @ 7.0% cap · market cap 5.39%
Second Best
Apartment 5plus
$194.7K
$170.4K – $227.2K
NOI $13,631 @ 7.0% cap · market cap 4.96%
Theoretical Best
Office A
$355.9K
$311.4K – $415.2K
NOI $24,913 @ 7.0% cap · market cap 9.06%
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
877
Businesses Nearby
Explore this area
Business Placement
Demographics for 28305, NC
5,844
Population
3,497
Households
1.7
Avg Household Size
44
Median Age
50%
College-Educated
93%
High-School Grad
2.6 sq mi
ZIP Area
2,248
Density / Sq Mi
$70,612
Median Household Income
$55,247
Median Earnings
$1,029
Median Rent
$242,600
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?
Duplex - Fenced residential income property with public water and sewer serving both units.
Where is this duplex located?
The property is located at 509 Martine Road Fayetteville, NC.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 bathroom in each unit; Approximately 1,624 square feet of total living space; Built in 1948 with brick veneer and frame construction
