Duplex with Bonus
For Sale
$499,000
711 Tallman Cir, Midway Park, NC 28544
Each residence includes a flexible bonus room and private garage for added everyday functionality.
Property Size2,208 SF
Price / SF$225
Days on Market115
Property Features for 711 Tallman Cir
General Information
Standard status
Active
Size
2,208 SF
Property subtype
Multi-Family
Building Details
Year Built
2025
Listing Agency:
Joe Powers Realty
(910) 382-2777
Listed By:
Jaclyn Cook · License #365696
Source:
Coastalrealtyassociates
Added: May 8
Changed: Aug 29
Last Checked: Aug 29 at 9:07PM
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.
Built in 2025, this duplex contains 2,208 square feet across two residences. Each unit offers two bedrooms, 3.5 bathrooms, a first-floor bonus room, and a private one-car garage. The bonus area adds adaptable interior space within both layouts.
The property is located at 711 Tallman Cir in Midway Park, NC, near Camp Lejeune, shopping, dining, and other local amenities. Its two-unit configuration and separate garage spaces provide a straightforward residential income property format for an owner-occupant or rental operator.
The property is located at 711 Tallman Cir in Midway Park, NC, near Camp Lejeune, shopping, dining, and other local amenities. Its two-unit configuration and separate garage spaces provide a straightforward residential income property format for an owner-occupant or rental operator.
Key Highlights
- Two‑unit duplex totaling 2,208 square feet
- Built in 2025
- Each unit has 2 bedrooms and 3.5 bathrooms
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
$22,083
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
4.43%
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%
$441,660
$441.7K
Cap Rate 7%
$315,471
$315.5K
Cap Rate 9%
$245,367
$245.4K
Market Conditions
NOI Build-Up for 2,208 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
$33.1K $15.00/SF
− Vacancy
−$1.6K −$0.71/SF
EGI
$31.5K $14.29/SF
− OpEx
−$9.5K −$4.29/SF
NOI
$22.1K $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%
$441,660
Cap Rate 7%
$315,471
Cap Rate 9%
$245,367
Alternative Uses
Best Use
Multifamily LT 5
$315.5K
$276.0K – $368.1K
NOI $22,083 @ 7.0% cap · market cap 4.43%
Second Best
Apartment 5plus
$286.8K
$250.9K – $334.6K
NOI $20,074 @ 7.0% cap · market cap 4.02%
Theoretical Best
Office A
$479.7K
$419.7K – $559.6K
NOI $33,576 @ 7.0% cap · market cap 6.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
136
Businesses Nearby
Explore this area
Business Placement
Demographics for 28544, NC
4,283
Population
2,311
Households
1.9
Avg Household Size
28
Median Age
18%
College-Educated
85%
High-School Grad
10.6 sq mi
ZIP Area
404
Density / Sq Mi
$49,449
Median Household Income
$29,576
Median Earnings
$1,165
Median Rent
$136,700
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 - Each residence includes a flexible bonus room and private garage for added everyday functionality.
Where is this duplex located?
The property is located at 711 Tallman Cir Midway Park, NC.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 2,208 square feet; Built in 2025; Each unit has 2 bedrooms and 3.5 bathrooms
