Income-Generating Triplex with
528 Matthews St Rocky Mount, NC 27801
For Sale
Contact for pricing
Three-unit triplex with one currently leased and two end units vacant and rent-ready.
Property Size1,850 SF
Price / SF$107.03
Days on Market158
Property Features for 528 Matthews St
General Information
- Standard status
- Active
- Size
- 1,850 SF
- Property subtype
- Multifamily
Listing Agency:
Braddock Associates
(888) 731-1710
Listed By:
Ben Braddock · License #287536
Source:
Crexi
Added: Feb 16
Changed: Jul 22
Last Checked: Jul 23 at 5:53AM
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 Braddock Associates
Investment Insights
Based on property information with market context.
This income-producing triplex consists of three units at 528–532 Matthews St. The middle unit is currently leased at $700 per month, while the two end units are vacant and described as clean and updated, positioned for immediate occupancy.
With a setup that supports multiple income streams, the property can also suit an owner-occupant who wants to live in one unit while leasing the other two. The listing also highlights the availability of “turn-key” vacant units, intended to reduce downtime for new tenants.
The property is offered for sale as a residential income asset with a total size of 1,850 square feet.
With a setup that supports multiple income streams, the property can also suit an owner-occupant who wants to live in one unit while leasing the other two. The listing also highlights the availability of “turn-key” vacant units, intended to reduce downtime for new tenants.
The property is offered for sale as a residential income asset with a total size of 1,850 square feet.
Key Highlights
- Triplex at 528‑532 Matthews St with 3 units total
- Middle unit currently leased for $700/month, providing immediate rental income
- Two end units are vacant and rent‑ready
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $32.0k | $17.28 |
| − Vacancy | −$2.2k | −$1.21 |
| EGI | $29.7k | $16.07 |
| − OpEx | −$13.4k | −$7.23 |
| NOI | $16.4k | $8.84 |
1,850 SF · lease $17.28/SF/yr · vacancy 7.00% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$263.2K
$230.3K – $307.1K
NOI $18,423 @ 7.0% cap · market cap 9.30%
Second Best
Apartment 5plus
$233.6K
$204.4K – $272.5K
NOI $16,352 @ 7.0% cap · market cap 8.26%
Theoretical Best
Office A
$609.9K
$533.7K – $711.6K
NOI $42,696 @ 7.0% cap · market cap 21.56%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Three-unit triplex with one currently leased and two end units vacant and rent-ready.
Where is this triplex located?
The property is located at 528 Matthews St Rocky Mount, NC.
What is the asking price?
The asking price for this property is $198,000.
What are key features of this property?
This property features: Triplex at 528‑532 Matthews St with 3 units total; Middle unit currently leased for $700/month, providing immediate rental income; Two end units are vacant and rent‑ready
