Updated Residential Income
For Sale
$312,000
1300 Reece Road, Charlotte, NC 28209
MULTI_FAMILY - Contemporary, Modern - Charlotte, NC
Property Size1,158 SF
Price / SF$269.43
Days on Market49
Property Features for 1300 Reece Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
NB-2
Bedrooms
2
Bathrooms
2
Full bathrooms
1
Half bathrooms
1
Rooms
Basement, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Laundry Room
Parking features
Parking Lot, Assigned
Security features
Security
Window features
Insulated Windows
Pool private
1
Exterior features
Lawn Maintenance, Storage
Basement
Interior Entry, Storage Space
Accessibility
Accessible Approach with Ramp, Accessible Elevator Installed
Appliances
Dishwasher, Electric Range, Microwave, Refrigerator
Subdivision
The Kimberlee
Lot features
Wooded, Views
Elementary school
Selwyn
Middle school
Alexander Graham
High school
Myers Park
Standard status
Active
APN
17518102
Size
1,158 SF
Taxes and HOA fees
Tax Description
L76-111-M3-124 & STR
HOA Fee
$635 Monthly
Legal Description
L76-111-M3-124 & STR
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Electric
Amenities
internet
cable
Building Details
Year built
1965
Floors in Building
1
Flooring type
Vinyl
Building materials
Brick Full
Architectural style
Contemporary, Modern
Additional Structures
Storage
Listing Agency:
Coldwell Banker Realty · Coldwell Banker Real Estate
(704) 541-5111
Listed By:
Miller O'Boyle
(704) 607-9634
Added: Jul 2
Changed: Aug 17
Last Checked: Aug 19 at 6:06PM
MLS# 4402266
Copyright © 2026 Canopy 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 1,158-square-foot residential income property presents a two-bedroom, two-bathroom layout with an open interior arrangement. Improvements include a renovated kitchen and bathroom, new flooring, and fresh paint. The home includes a dishwasher, electric range, microwave, and refrigerator, along with storage, brick construction, heat-pump heating, and electric cooling. Accessibility features include a ramped approach and an elevator. Built in 1965, the property also has a private pool and assigned parking.
The Kimberlee is located near Park Road Shopping Center in Charlotte, with restaurants, cafes, boutiques, and entertainment nearby. The Little Sugar Creek Greenway provides a route toward Freedom Park. A monthly fee covers property taxes, internet, cable, water, trash, and one covered parking space.
The Kimberlee is located near Park Road Shopping Center in Charlotte, with restaurants, cafes, boutiques, and entertainment nearby. The Little Sugar Creek Greenway provides a route toward Freedom Park. A monthly fee covers property taxes, internet, cable, water, trash, and one covered parking space.
Key Highlights
- 1,158‑square‑foot layout with 2 bedrooms and 2 bathrooms
- Renovated kitchen and bathroom, new flooring, and fresh paint
- Private pool and assigned parking, including one covered space
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
$14,012
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
4.49%
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%
$280,240
$280.2K
Cap Rate 7%
$200,171
$200.2K
Cap Rate 9%
$155,689
$155.7K
Market Conditions
NOI Build-Up for 1,158 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
$27.0K $23.28/SF
− Vacancy
−$1.5K −$1.28/SF
EGI
$25.5K $22.00/SF
− OpEx
−$11.5K −$9.90/SF
NOI
$14.0K $12.10/SF
Area
Charlotte, NC
Vacancy
5.50%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
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%
$280,240
Cap Rate 7%
$200,171
Cap Rate 9%
$155,689
Alternative Uses
Best Use
Apartment 5plus
$200.2K
$175.2K – $233.5K
NOI $14,012 @ 7.0% cap · market cap 4.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$385.6K
$337.4K – $449.9K
NOI $26,993 @ 7.0% cap · market cap 8.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,160
Businesses Nearby
Explore this area
Business Placement
Demographics for 28209, NC
24,836
Population
13,410
Households
1.9
Avg Household Size
34
Median Age
70%
College-Educated
97%
High-School Grad
5.5 sq mi
ZIP Area
4,516
Density / Sq Mi
$97,762
Median Household Income
$71,103
Median Earnings
$1,606
Median Rent
$596,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom residence with refreshed interiors, assigned parking, and access to community amenities near Park Road Shopping Center.
Where is this residential income property located?
The property is located at 1300 Reece Road Charlotte, NC.
What is the asking price?
The asking price for this property is $312,000.
What are key features of this property?
This property features: 1,158‑square‑foot layout with 2 bedrooms and 2 bathrooms; Renovated kitchen and bathroom, new flooring, and fresh paint; Private pool and assigned parking, including one covered space
