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4 Fully Occupied Units: Side-by-Side Duplexes 520 Suburb St 4 Unit Apartment Building $298,000 ($74,500/Unit) 11.37% Cap Rate Rocky Mount, NC 27801
Executive Summary
Two single-story side-by-side duplexes (4 units total) located at 514-520 Suburb St.
Built in 1985 and 100% occupied, total of 2,820 square feet
Slab on grade foundation
Brick exterior
Metal roof on 518/520 Suburb Street
Asphalt shingle roof on 514/516 Suburb Street
Current Cap Rate: 11.37%
Projected Cap Rate: 12.18% (with modest rent increase to $800/unit market rent)
Current NOI: $33,891
NOI at Market Rent: $36,291
All tenants are on month-to-month leases at $750/mo
All units are individually metered and tenants pay water and electricity directly to providers; trash is included on tenants' water bill.
Built in 1985 and 100% occupied, total of 2,820 square feet
Slab on grade foundation
Brick exterior
Metal roof on 518/520 Suburb Street
Asphalt shingle roof on 514/516 Suburb Street
Current Cap Rate: 11.37%
Projected Cap Rate: 12.18% (with modest rent increase to $800/unit market rent)
Current NOI: $33,891
NOI at Market Rent: $36,291
All tenants are on month-to-month leases at $750/mo
All units are individually metered and tenants pay water and electricity directly to providers; trash is included on tenants' water bill.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$3,000
|
$1.06
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$3,000
|
$1.06
|
| Taxes |
$1,225
|
$0.43
|
| Operating Expenses |
$884
|
$0.31
|
| Total Expenses |
$2,109
|
$0.75
|
| Net Operating Income |
$891
|
$0.32
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $3,000 |
| Annual Per SF | $1.06 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $3,000 |
| Annual Per SF | $1.06 |
| Taxes | |
|---|---|
| Annual | $1,225 |
| Annual Per SF | $0.43 |
| Operating Expenses | |
|---|---|
| Annual | $884 |
| Annual Per SF | $0.31 |
| Total Expenses | |
|---|---|
| Annual | $2,109 |
| Annual Per SF | $0.75 |
| Net Operating Income | |
|---|---|
| Annual | $891 |
| Annual Per SF | $0.32 |
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | $750.00 | - |
1 1
Somewhat walkable
30/100
Exceptionally drivable
100/100
Limited public transit
20/100
Fairly bikeable
50/100
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4 Fully Occupied Units: Side-by-Side Duplexes | 520 Suburb St
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