2-Bedroom Duplex with Fenced
For Sale
$139,900
Pending
59 N Sussex Drive, Smithfield, NC 27577
DUPLEX - Ranch - Smithfield, NC
Property Size1,008 SF
Lot Size0.16 Acres
Days on Market130
Property Features for 59 N Sussex Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RES
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 1, Dining Room, Bedroom 1, Bathroom 2
Parking
2
Parking features
Driveway
Window features
Blinds
Patio and Porch features
Porch
Interior features
Cathedral Ceiling(s), Ceiling Fan(s), Eat-in Kitchen, Laminate Counters, Living/Dining Room Combination, Smooth Ceilings, Walk-In Shower
Exterior features
Fenced Yard, Rain Gutters
Fencing
Fenced, Privacy
Appliances
Dishwasher, Electric Range, Microwave, Washer/Dryer
Subdivision
Fairfield Townes
Lot features
Back Yard, Cleared, Front Yard, Landscaped, Level
Elementary school
Johnston - South Smithfield Elementary
Middle school
Johnston - Smithfield Middle
High school
Johnston - Smithfield Selma High
Special listing conditions
Short Sale
Standard status
Pending
APN
15004017W
Size
1,008 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
L7b Fairfield II Pb31/245260413-170
Tax Annual Amount
1620
Legal Description
L7b Fairfield II Pb31/245260413-170
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Water source
Public
Building Details
Year built
1989
Floors in Building
1
Flooring type
Tile, Laminate
Building materials
Vinyl Siding
Roof type
Asphalt
Architectural style
Ranch
Listing Agency:
Real Broker, LLC - Carolina Collective Realty
(919) 782-4505
Listed By:
Gene Pitzer · License #268702
(919) 624-1321
Added: Apr 8
Changed: Aug 2
Last Checked: Aug 15 at 8:06AM
MLS# 10158351
Copyright © 2026 Doorify 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.
Ranch-style duplex featuring two bedrooms and two bathrooms, with engineered flooring, smooth ceilings, and a spacious living area with a living/dining room combination. The eat-in kitchen includes laminate counters, and the baths include a walk-in shower. Exterior features include vinyl siding, asphalt roofing, a porch, rain gutters, and a fenced, privacy-style yard. The home is heated and cooled with a heat pump and includes a driveway for parking. Year built is 1989.
Set on a 0.16-acre lot, this duplex provides 1008 square feet of space with tile and laminate flooring throughout. Public water and public sewer service are in place. Appliances included are a dishwasher, electric range, microwave, and washer/dryer.
Set on a 0.16-acre lot, this duplex provides 1008 square feet of space with tile and laminate flooring throughout. Public water and public sewer service are in place. Appliances included are a dishwasher, electric range, microwave, and washer/dryer.
Key Highlights
- Ranch‑style 2‑bedroom, 2‑bath duplex with a fenced privacy yard
- 0.16‑acre lot and 1008 SF interior space
- 1989 construction with vinyl siding and asphalt roofing
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
$10,272
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
7.34%
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%
$205,440
$205.4K
Cap Rate 7%
$146,743
$146.7K
Cap Rate 9%
$114,133
$114.1K
Market Conditions
NOI Build-Up for 1,008 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
$15.5K $15.36/SF
− Vacancy
−$808 −$0.80/SF
EGI
$14.7K $14.56/SF
− OpEx
−$4.4K −$4.37/SF
NOI
$10.3K $10.19/SF
Area
Johnston County, NC
Vacancy
5.22%
Lease Rate
$15.36 /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%
$205,440
Cap Rate 7%
$146,743
Cap Rate 9%
$114,133
Alternative Uses
Best Use
Multifamily LT 5
$146.7K
$128.4K – $171.2K
NOI $10,272 @ 7.0% cap · market cap 7.34%
Second Best
Apartment 5plus
$126.6K
$110.8K – $147.8K
NOI $8,865 @ 7.0% cap · market cap 6.34%
Theoretical Best
Office A
$304.9K
$266.8K – $355.8K
NOI $21,346 @ 7.0% cap · market cap 15.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
448
Businesses Nearby
Explore this area
Business Placement
Demographics for 27577, NC
24,972
Population
10,744
Households
2.3
Avg Household Size
40
Median Age
21%
College-Educated
82%
High-School Grad
103.7 sq mi
ZIP Area
241
Density / Sq Mi
$56,237
Median Household Income
$39,604
Median Earnings
$802
Median Rent
$230,200
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 - Ranch-style 2-bedroom, 2-bath duplex with fenced yard, porch, heat pump HVAC, and public water and sewer in Smithfield.
Where is this duplex located?
The property is located at 59 N Sussex Drive Smithfield, NC.
What is the asking price?
The asking price for this property is $139,900.
What are key features of this property?
This property features: Ranch‑style 2‑bedroom, 2‑bath duplex with a fenced privacy yard; 0.16‑acre lot and 1008 SF interior space; 1989 construction with vinyl siding and asphalt roofing
