Renovated Brick
New
For Sale
$324,900
802-800 W Anderson Street, Selma, NC 27576
Two similarly configured units with private outdoor areas, paved driveways, and one recently renovated vacant unit.
Property Size1,658 SF
Price / SF$195.96
Days on Market3
Property Features for 802-800 W Anderson Street
General Information
Standard status
Active
Size
1,658 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$2,177
Listing Agency:
HomeTowne Realty
(919) 422-3143
Listed By:
Christopher Carroll
(919) 422-3143
Source:
Exprealty
Added: Aug 29
Changed: Aug 31
Last Checked: Aug 31 at 8:51AM
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 HomeTowne Realty
Investment Insights
Based on property information with market context.
This renovated brick duplex contains two similarly arranged residences, each offering two bedrooms and one bathroom. The interiors share comparable layouts and updates. One unit is occupied through the end of the year, while the other is vacant following a recent renovation. The property also includes front and rear yard areas, paved concrete driveways, privacy fencing, and landscaped grounds.
The address is just minutes from downtown Selma, the 70/95 interchange, Eastfield Crossing, and Carolina Pottery Outlet. The combination of two separate residences and differing occupancy status provides a straightforward setup for an owner seeking a duplex with one occupied unit and one available for leasing.
The address is just minutes from downtown Selma, the 70/95 interchange, Eastfield Crossing, and Carolina Pottery Outlet. The combination of two separate residences and differing occupancy status provides a straightforward setup for an owner seeking a duplex with one occupied unit and one available for leasing.
Key Highlights
- Two‑unit brick duplex with matching 2‑bedroom, 1‑bath layouts
- One unit rented through the end of the year
- Second unit is vacant and freshly renovated
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
$16,896
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
5.20%
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%
$337,920
$337.9K
Cap Rate 7%
$241,371
$241.4K
Cap Rate 9%
$187,733
$187.7K
Market Conditions
NOI Build-Up for 1,658 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
$25.5K $15.36/SF
− Vacancy
−$1.3K −$0.80/SF
EGI
$24.1K $14.56/SF
− OpEx
−$7.2K −$4.37/SF
NOI
$16.9K $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%
$337,920
Cap Rate 7%
$241,371
Cap Rate 9%
$187,733
Alternative Uses
Best Use
Multifamily LT 5
$241.4K
$211.2K – $281.6K
NOI $16,896 @ 7.0% cap · market cap 5.20%
Second Best
Apartment 5plus
$208.3K
$182.3K – $243.0K
NOI $14,581 @ 7.0% cap · market cap 4.49%
Theoretical Best
Office A
$501.6K
$438.9K – $585.2K
NOI $35,111 @ 7.0% cap · market cap 10.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
338
Businesses Nearby
Explore this area
Business Placement
Demographics for 27576, NC
17,568
Population
7,911
Households
2.2
Avg Household Size
37
Median Age
18%
College-Educated
84%
High-School Grad
81.3 sq mi
ZIP Area
216
Density / Sq Mi
$62,044
Median Household Income
$39,262
Median Earnings
$874
Median Rent
$178,200
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 - Two similarly configured units with private outdoor areas, paved driveways, and one recently renovated vacant unit.
Where is this duplex located?
The property is located at 802-800 W Anderson Street Selma, NC.
What is the asking price?
The asking price for this property is $324,900.
What are key features of this property?
This property features: Two‑unit brick duplex with matching 2‑bedroom, 1‑bath layouts; One unit rented through the end of the year; Second unit is vacant and freshly renovated
