4-Unit Brick Apartment
For Sale
$295,000
Pending
6421 Applecross Ave, Fayetteville, NC 28304
Brick construction houses one-bedroom apartments with full bathrooms, equipped kitchens, and private rear patios.
Property Size2,484 SF
Days on Market14
Property Features for 6421 Applecross Ave
General Information
Standard status
Pending
Size
2,484 SF
Property subtype
Residential Income
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$1,800
Amenities
private rear patio
Building Details
Buildings
1
Construction
brick
Listing Agency:
Highgarden Real Estate NC
(919) 616-5492
Listed By:
Ashley Hum · License #285338
(919) 616-5492
Source:
Exprealty
Added: Aug 5
Changed: Aug 16
Last Checked: Aug 18 at 2:12PM
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 Highgarden Real Estate NC
Investment Insights
Based on property information with market context.
This brick quadplex contains four apartments, each arranged with one bedroom, one full bathroom, a fully equipped kitchen, and a private rear patio. The consistent unit configuration provides a clear physical layout across the building.
The property is located at 6421 Applecross Ave in Fayetteville, NC. One unit is available for viewing at 6421-C Applecross Avenue, while the remaining three apartments are leased and may be viewed during the due diligence period.
The property is located at 6421 Applecross Ave in Fayetteville, NC. One unit is available for viewing at 6421-C Applecross Avenue, while the remaining three apartments are leased and may be viewed during the due diligence period.
Key Highlights
- Four‑unit brick apartment building
- Each unit includes 1 bedroom and 1 full bathroom
- Fully equipped kitchen in every apartment
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
$22,673
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
7.69%
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%
$453,460
$453.5K
Cap Rate 7%
$323,900
$323.9K
Cap Rate 9%
$251,922
$251.9K
Market Conditions
NOI Build-Up for 2,484 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
$34.3K $13.80/SF
− Vacancy
−$1.9K −$0.76/SF
EGI
$32.4K $13.04/SF
− OpEx
−$9.7K −$3.91/SF
NOI
$22.7K $9.13/SF
Area
Fayetteville, NC
Vacancy
5.51%
Lease Rate
$13.80 /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%
$453,460
Cap Rate 7%
$323,900
Cap Rate 9%
$251,922
Alternative Uses
Best Use
Multifamily LT 5
$323.9K
$283.4K – $377.9K
NOI $22,673 @ 7.0% cap · market cap 7.69%
Second Best
Apartment 5plus
$297.8K
$260.6K – $347.5K
NOI $20,849 @ 7.0% cap · market cap 7.07%
Theoretical Best
Office A
$544.4K
$476.3K – $635.1K
NOI $38,107 @ 7.0% cap · market cap 12.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
252
Businesses Nearby
Explore this area
Business Placement
Demographics for 28304, NC
37,120
Population
16,424
Households
2.3
Avg Household Size
37
Median Age
25%
College-Educated
92%
High-School Grad
17.4 sq mi
ZIP Area
2,133
Density / Sq Mi
$57,867
Median Household Income
$35,907
Median Earnings
$1,218
Median Rent
$154,300
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?
Quadplex - Brick construction houses one-bedroom apartments with full bathrooms, equipped kitchens, and private rear patios.
Where is this quadplex located?
The property is located at 6421 Applecross Ave Fayetteville, NC.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Four‑unit brick apartment building; Each unit includes 1 bedroom and 1 full bathroom; Fully equipped kitchen in every apartment
