Renovated Duplex with Two 2BR
For Sale
$249,000
520-522 Williams Street, Jacksonville, NC 28540
MULTI_FAMILY - Jacksonville, NC
Property Size1,500 SF
Lot Size0.23 Acres
Price / SF$166
Days on Market93
Property Features for 520-522 Williams Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RMF-LD
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bedroom 3, Bedroom 4, Bedroom 2, Bathroom 1
Parking features
Off Street
Patio and Porch features
Porch
Interior features
Wash/Dry Connect
Appliances
Electric Oven, Refrigerator
Subdivision
Northwoods
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
024380
Size
1,500 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
L15 BF NORTHWOODS
Legal Description
L15 BF NORTHWOODS
Utilities
Heating system
Forced Air, Electric (Heating), Heat Pump (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 15
Changed: Aug 10
Last Checked: Aug 15 at 7:06AM
MLS# 100574189
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.
This completely renovated duplex includes two updated residential units, each offering two bedrooms and one bathroom. Both sides feature modern improvements throughout, creating move-in-ready living and rental appeal without the need for immediate interior work. The property is configured as a duplex, with separate unit spaces designed for independent occupancy.
The duplex is located at 520-522 Williams Street in Jacksonville, North Carolina (Onslow County). It is described as convenient to shopping, dining, and major commuter routes, which can support day-to-day access for tenants and residents.
For buyers, this layout and condition make the property straightforward to operate as a small residential income asset, or to occupy while renting the other unit. With updated interiors on both sides, the duplex is well-suited for tenants looking for a refreshed, contemporary home. The listing notes that interested parties should inquire with their agent regarding current lease terms.
The duplex is located at 520-522 Williams Street in Jacksonville, North Carolina (Onslow County). It is described as convenient to shopping, dining, and major commuter routes, which can support day-to-day access for tenants and residents.
For buyers, this layout and condition make the property straightforward to operate as a small residential income asset, or to occupy while renting the other unit. With updated interiors on both sides, the duplex is well-suited for tenants looking for a refreshed, contemporary home. The listing notes that interested parties should inquire with their agent regarding current lease terms.
Key Highlights
- Duplex with two updated 2‑bedroom, 1‑bath units
- Central air plus heat pump and forced‑air heating
- Wash/dry connection available in the interior
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
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Frequently Asked Questions
What type of property is this?
Duplex - Turnkey duplex offers two updated 2-bedroom, 1-bath units for investor or owner-occupant use.
Where is this duplex located?
The property is located at 520-522 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: Duplex with two updated 2‑bedroom, 1‑bath units; Central air plus heat pump and forced‑air heating; Wash/dry connection available in the interior
