Ocean-View Duplexes with
For Sale
$382,500
9005 E 9th St, Surf City, NC 28445
Two adjoining units provide flexible layouts near direct beach access, with separate deeds and no HOA.
Property Size1,344 SF
Price / SF$284.60
Days on Market77
Property Features for 9005 E 9th St
General Information
Standard status
Active
Size
1,344 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
RV parking
Building Details
Year Built
1984
Listing Agency:
Century 21 Coastal Advantage
Listed By:
Taylor M Greene · License #198259
(919) 422-6281
Source:
Bradberrygarnerrealestate
Added: Jul 21
Changed: Oct 2
Last Checked: Oct 4 at 11:40AM
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 Century 21 Coastal Advantage
Investment Insights
Based on property information with market context.
This duplex offering combines two adjoining townhome-style units sold together while remaining separately deeded. The property contains 1,344 square feet and was built in 1984. Each side includes a lower-level bedroom arrangement, an upper loft, and a half bath, with front and rear decks oriented toward ocean views. Unit 9005 has an updated kitchen with stainless steel appliances installed in 2026.
The property is located at 9003-9005 E 9th St in Surf City, approximately ¼ block from direct beach access. Both units benefit from the coastal setting and deck areas, while the property also includes RV parking. There is no HOA. The configuration supports flexible use as a beach residence, second home, or rental property, subject to applicable requirements.
The property is located at 9003-9005 E 9th St in Surf City, approximately ¼ block from direct beach access. Both units benefit from the coastal setting and deck areas, while the property also includes RV parking. There is no HOA. The configuration supports flexible use as a beach residence, second home, or rental property, subject to applicable requirements.
Key Highlights
- Two adjoining duplex units sold together with separate deeds
- 1,344 square feet across the property; built in 1984
- Ocean views from front and rear decks
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
$13,442
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
3.51%
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%
$268,840
$268.8K
Cap Rate 7%
$192,029
$192.0K
Cap Rate 9%
$149,356
$149.4K
Market Conditions
NOI Build-Up for 1,344 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
$20.2K $15.00/SF
− Vacancy
−$958 −$0.71/SF
EGI
$19.2K $14.29/SF
− OpEx
−$5.8K −$4.29/SF
NOI
$13.4K $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%
$268,840
Cap Rate 7%
$192,029
Cap Rate 9%
$149,356
Alternative Uses
Best Use
Multifamily LT 5
$192.0K
$168.0K – $224.0K
NOI $13,442 @ 7.0% cap · market cap 3.51%
Second Best
Apartment 5plus
$174.6K
$152.7K – $203.7K
NOI $12,219 @ 7.0% cap · market cap 3.19%
Theoretical Best
Office A
$292.0K
$255.5K – $340.6K
NOI $20,437 @ 7.0% cap · market cap 5.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
70
Businesses Nearby
Explore this area
Business Placement
Demographics for 28445, NC
10,243
Population
8,832
Households
1.2
Avg Household Size
38
Median Age
42%
College-Educated
92%
High-School Grad
103.7 sq mi
ZIP Area
99
Density / Sq Mi
$89,250
Median Household Income
$56,844
Median Earnings
$1,318
Median Rent
$332,500
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 adjoining units provide flexible layouts near direct beach access, with separate deeds and no HOA.
Where is this duplex located?
The property is located at 9005 E 9th St Surf City, NC.
What is the asking price?
The asking price for this property is $382,500.
What are key features of this property?
This property features: Two adjoining duplex units sold together with separate deeds; 1,344 square feet across the property; built in 1984; Ocean views from front and rear decks
