Duplex with Porch and Central
For Sale
$440,000
2929 Amity Garden Court, Charlotte, NC 28205
MULTI_FAMILY - Charlotte, NC
Property Size1,800 SF
Lot Size0.30 Acres
Price / SF$244.44
Days on Market110
Property Features for 2929 Amity Garden Court
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
N2-B
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 4, Bathroom 1, Bedroom 3, Bedroom 2, Bathroom 2
Parking features
Driveway
Patio and Porch features
Porch, Patio
Interior features
Open Floorplan, Pantry, Storage
Exterior features
Lawn Maintenance, Storage Unit (Off Site)
Appliances
Electric Range, Microwave, Oven
Subdivision
Sheffield
Elementary school
Unspecified
Middle school
Unspecified
High school
Unspecified
Standard status
Active
APN
133-014-11
Lot size
0.30 Acres
Taxes and HOA fees
Tax Description
L5 B1 M10-13
Legal Description
L5 B1 M10-13
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1962
Floors in Building
1
Number of units
2
Flooring type
Wood, Vinyl
Building materials
Brick Partial, Shingle/Shake, Vinyl
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
Castle Gate Real Estate Group LLC
(704) 533-9387
Listed By:
Crystal Ratcliff
(704) 253-9272
Added: Apr 22
Changed: Aug 3
Last Checked: Aug 9 at 11:06PM
MLS# 4372973
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 duplex offers a simple, functional layout with open floor plan living and practical storage throughout. Each side includes two bedrooms and one bathroom, with central heating and central air for year-round comfort. The interiors include features such as a pantry and storage, and the property offers both a porch and patio for outdoor space. Construction includes partial brick, with shingle/shake and vinyl elements, and the home is served by public sewer. Interior finishes include a remodeled bathroom and fresh paint.
The property sits on a 0.3-acre lot and is built for easy day-to-day access with driveway parking. One unit is currently leased, while the second unit is vacant and ready for a new tenant or an owner-occupant. A home inspection has been completed as of July 1, 2026.
The duplex is located with convenient access to shopping, dining, and major highways, supporting a tenant-ready environment in an East Charlotte area that is described as continuing to grow.
The property sits on a 0.3-acre lot and is built for easy day-to-day access with driveway parking. One unit is currently leased, while the second unit is vacant and ready for a new tenant or an owner-occupant. A home inspection has been completed as of July 1, 2026.
The duplex is located with convenient access to shopping, dining, and major highways, supporting a tenant-ready environment in an East Charlotte area that is described as continuing to grow.
Key Highlights
- Duplex layout with two bedrooms and one bathroom per side
- One unit leased; second unit is vacant and ready for occupancy
- 0.3‑acre lot with driveway parking
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
$23,651
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
5.38%
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%
$473,020
$473.0K
Cap Rate 7%
$337,871
$337.9K
Cap Rate 9%
$262,789
$262.8K
Market Conditions
NOI Build-Up for 1,800 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
$35.6K $19.80/SF
− Vacancy
−$1.9K −$1.03/SF
EGI
$33.8K $18.77/SF
− OpEx
−$10.1K −$5.63/SF
NOI
$23.7K $13.14/SF
Area
Charlotte, NC
Vacancy
5.20%
Lease Rate
$19.80 /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%
$473,020
Cap Rate 7%
$337,871
Cap Rate 9%
$262,789
Alternative Uses
Best Use
Multifamily LT 5
$337.9K
$295.6K – $394.2K
NOI $23,651 @ 7.0% cap · market cap 5.38%
Second Best
Apartment 5plus
$311.1K
$272.3K – $363.0K
NOI $21,780 @ 7.0% cap · market cap 4.95%
Theoretical Best
Office A
$599.4K
$524.5K – $699.3K
NOI $41,958 @ 7.0% cap · market cap 9.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
877
Businesses Nearby
Explore this area
Business Placement
Demographics for 28205, NC
49,600
Population
24,605
Households
2
Avg Household Size
34
Median Age
46%
College-Educated
86%
High-School Grad
11.8 sq mi
ZIP Area
4,203
Density / Sq Mi
$72,479
Median Household Income
$49,340
Median Earnings
$1,376
Median Rent
$410,800
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 - Each side features two bedrooms and one bathroom with central heating and central air, plus a porch and patio.
Where is this duplex located?
The property is located at 2929 Amity Garden Court Charlotte, NC.
What is the asking price?
The asking price for this property is $440,000.
What are key features of this property?
This property features: Duplex layout with two bedrooms and one bathroom per side; One unit leased; second unit is vacant and ready for occupancy; 0.3‑acre lot with driveway parking
