Multifamily Property in Wilson,
For Sale
Under Contract
$225,000
714 Pender Street S, Wilson, NC 27893
MULTI_FAMILY - Wilson, NC
Property Size1,950 SF
Lot Size0.25 Acres
Price / SF$115.38
Days on Market246
Property Features for 714 Pender Street S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
GR6
Bedrooms
5
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 3, Bathroom 2, Bathroom 1, Bedroom 3, Bedroom 4, Bedroom 5, Bedroom 2, Bedroom 1
Parking features
Carport
Window features
Storm Window(s)
Patio and Porch features
Porch
Interior features
Wash/Dry Connect, Ceiling Fan(s)
Exterior features
Storm Doors
Fencing
Chain Link
Subdivision
Not In Subdivision
Elementary school
Vick
Middle school
Forest Hills
High school
Hunt
Directions
Hines St to Pender St, Property is on the right
Standard status
Active Under Contract
APN
3721-46-6462.000
Size
1,950 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
See DB 2034 PG 213
Legal Description
See DB 2034 PG 213
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1967
Floors in Building
1
Number of units
2
Flooring type
Wood, Carpet
Building materials
Block, Brick Veneer, Vinyl Siding, Wood Frame
Roof type
Shingle
Listing Agency:
Womble Real Estate
(252) 291-1123
Listed By:
Allyson M Moye · License #210074
(252) 230-2641
Added: Dec 9, 2025
Changed: Aug 10
Last Checked: Aug 12 at 12:06PM
MLS# 100544785
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 property presents an opportunity for multi-generational living or use as an income property. It includes two homes situated on a 0.25-acre lot. The first home is a brick structure featuring three bedrooms, one bathroom, hardwood floors, and a carport. The second home offers two bedrooms, one and a half bathrooms, a covered porch, and an outbuilding. Both homes are currently occupied by long-term tenants. The property is located in Wilson, NC.
Key Highlights
- Two‑home setup for multi‑generational living or income: brick 3BR/1BA plus a second 2BR/1.5BA home
- Carport included with the brick 3‑bedroom home
- Covered porch and an outbuilding included with the second home
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
$15,909
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
7.07%
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%
$318,180
$318.2K
Cap Rate 7%
$227,271
$227.3K
Cap Rate 9%
$176,767
$176.8K
Market Conditions
NOI Build-Up for 1,950 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
$24.6K $12.60/SF
− Vacancy
−$1.8K −$0.95/SF
EGI
$22.7K $11.66/SF
− OpEx
−$6.8K −$3.50/SF
NOI
$15.9K $8.16/SF
Area
Wilson County, NC
Vacancy
7.50%
Lease Rate
$12.60 /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%
$318,180
Cap Rate 7%
$227,271
Cap Rate 9%
$176,767
Alternative Uses
Best Use
Multifamily LT 5
$227.3K
$198.9K – $265.2K
NOI $15,909 @ 7.0% cap · market cap 7.07%
Second Best
Apartment 5plus
$210.3K
$184.0K – $245.4K
NOI $14,722 @ 7.0% cap · market cap 6.54%
Theoretical Best
Office A
$468.0K
$409.5K – $546.0K
NOI $32,762 @ 7.0% cap · market cap 14.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
243
Businesses Nearby
Explore this area
Business Placement
Demographics for 27893, NC
37,131
Population
18,383
Households
2
Avg Household Size
41
Median Age
15%
College-Educated
79%
High-School Grad
109.0 sq mi
ZIP Area
341
Density / Sq Mi
$40,180
Median Household Income
$31,197
Median Earnings
$894
Median Rent
$153,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two homes on one lot, ideal for income or multigenerational.
Where is this duplex located?
The property is located at 714 Pender Street S Wilson, NC.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Two‑home setup for multi‑generational living or income: brick 3BR/1BA plus a second 2BR/1.5BA home; Carport included with the brick 3‑bedroom home; Covered porch and an outbuilding included with the second home
