Two-Unit Residential Income
For Sale
$129,000
515 E 10th St, Lumberton, NC 28358
Duplex features two occupied units: a 3-bedroom/1-bath upstairs and a 2-bedroom/1-bath downstairs.
Property Size1,948 SF
Price / SF$66.22
Days on Market180
Property Features for 515 E 10th St
General Information
Standard status
Active
Size
1,948 SF
Property subtype
Commercial
Occupancy
100%
Additional Details
Multifamily Units
2
Building Details
Year Built
1953
Listing Agency:
Century 21 The Real Estate Ctr
Listed By:
Mike K Ivey · License #187952
(910) 827-0891
Source:
Searchgreateraugustahomes
Added: Apr 13
Changed: Oct 1
Last Checked: Oct 9 at 7:33PM
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 Century 21 The Real Estate Ctr
Investment Insights
Based on property information with market context.
This two-unit residential income duplex offers separate upstairs and downstairs living arrangements. The upstairs unit includes three bedrooms and one bathroom. The downstairs unit includes two bedrooms and one bathroom. Both units are currently occupied.
The property is located at 515 E. 10th Street in Lumberton, NC. The building configuration supports straightforward tenant separation with distinct unit layouts on two levels.
As a duplex with two independently set-up units, the property provides a residential income structure with one larger (3-bedroom) unit and one smaller (2-bedroom) unit, each with one bathroom.
The property is located at 515 E. 10th Street in Lumberton, NC. The building configuration supports straightforward tenant separation with distinct unit layouts on two levels.
As a duplex with two independently set-up units, the property provides a residential income structure with one larger (3-bedroom) unit and one smaller (2-bedroom) unit, each with one bathroom.
Key Highlights
- Duplex with two occupied units
- Upstairs unit: 3 bedrooms and 1 bathroom
- Downstairs unit: 2 bedrooms and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,264
Cap Rate
8.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$225,280
$225.3K
Cap Rate 7%
$160,914
$160.9K
Cap Rate 9%
$125,156
$125.2K
Market Conditions
NOI Build-Up for 1,948 SF
Gross rent
$17.1K $8.76/SF
− Vacancy
−$973 −$0.50/SF
EGI
$16.1K $8.26/SF
− OpEx
−$4.8K −$2.48/SF
NOI
$11.3K $5.78/SF
Area
Robeson County, NC
Vacancy
5.70%
Lease Rate
$8.76 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$225,280
Cap Rate 7%
$160,914
Cap Rate 9%
$125,156
Alternative Uses
Best Use
Multifamily LT 5
$160.9K
$140.8K – $187.7K
NOI $11,264 @ 7.0% cap · market cap 8.73%
Second Best
Apartment 5plus
$143.3K
$125.4K – $167.2K
NOI $10,031 @ 7.0% cap · market cap 7.78%
Theoretical Best
Office A
$537.0K
$469.9K – $626.5K
NOI $37,589 @ 7.0% cap · market cap 29.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
568
Businesses Nearby
Explore this area
Business Placement
Demographics for 28358, NC
32,865
Population
14,838
Households
2.2
Avg Household Size
39
Median Age
17%
College-Educated
82%
High-School Grad
196.6 sq mi
ZIP Area
167
Density / Sq Mi
$46,756
Median Household Income
$34,031
Median Earnings
$837
Median Rent
$106,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Duplex features two occupied units: a 3-bedroom/1-bath upstairs and a 2-bedroom/1-bath downstairs.
Where is this duplex located?
The property is located at 515 E 10th St Lumberton, NC.
What is the asking price?
The asking price for this property is $129,000.
What are key features of this property?
This property features: Duplex with two occupied units; Upstairs unit: 3 bedrooms and 1 bathroom; Downstairs unit: 2 bedrooms and 1 bathroom
