Renovated Duplex with Two
For Sale
$249,000
Pending
520-522 Williams St, Jacksonville, NC 28540
Two updated two-bedroom units offer a practical duplex configuration near shopping, dining, and major commuter routes.
Property Size1,500 SF
Days on Market140
Property Features for 520-522 Williams St
General Information
Standard status
Pending
Size
1,500 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1954
Listing Agency:
Joe Powers Realty
Listed By:
Jaclyn Cook · License #365696
(910) 382-2777
Source:
Coastalrealtyassociates
Added: Apr 28
Changed: Sep 8
Last Checked: Sep 13 at 11:34AM
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 Joe Powers Realty
Investment Insights
Based on property information with market context.
This duplex contains two separate 2-bedroom, 1-bath units within approximately 1,500 square feet. Both sides have been renovated with updated interiors and modern improvements, providing a cohesive residential income property configuration. The building was originally constructed in 1954.
Located near shopping, dining, and major commuter routes, the property offers convenient access to everyday services and regional travel connections. Its two-unit layout supports both investment and owner-occupant use, subject to current lease terms and applicable requirements.
Located near shopping, dining, and major commuter routes, the property offers convenient access to everyday services and regional travel connections. Its two-unit layout supports both investment and owner-occupant use, subject to current lease terms and applicable requirements.
Key Highlights
- Two‑unit duplex configuration
- Each unit includes 2 bedrooms and 1 bath
- Renovated with updated interiors and modern improvements
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
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Open Analytics
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two updated two-bedroom units offer a practical duplex configuration near shopping, dining, and major commuter routes.
Where is this duplex located?
The property is located at 520-522 Williams St 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 configuration; Each unit includes 2 bedrooms and 1 bath; Renovated with updated interiors and modern improvements
