Updated Full-Brick
New
For Sale
$589,000
3019 Columbus Circle, Charlotte, NC 28208
Residential Income, Charlotte, NC
Property Size1,450 SF
Lot Size0.29 Acres
Price / SF$406.21
Days on Market2
Property Features for 3019 Columbus Circle
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
N1-D
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 3, Bedroom 4, Bedroom 2
Parking features
Driveway
Pets allowed
Breed Restrictions, Yes
Appliances
Dishwasher, Microwave, Refrigerator, Washer/Dryer
Subdivision
Regal Heights
Elementary school
Ashley Park
Middle school
Ashley Park
High school
West Charlotte
Standard status
Active
APN
067-041-10
Lot size
0.29 Acres
Taxes and HOA fees
Tax Description
L4 B2 M6-877
Legal Description
L4 B2 M6-877
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Amenities
covered front porch
fenced backyard
Building Details
Year built
1953
Number of units
2
Building materials
Brick Full
Listing Agency:
Keller Williams Ballantyne Area · Keller Williams Realty
(704) 887-6600
Listed By:
Leslie Hamp Adams
(980) 400-3220
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 22 at 6:06AM
MLS# 4416977
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 full-brick, single-level duplex contains approximately 1,450 heated square feet across two residences. Each side includes a split two-bedroom layout, one full bathroom, living room, kitchen, laundry area, covered front porch, and concrete driveway access. Recent interior improvements include quartz countertops, stainless steel appliances, and neutral paint. The property also provides a shared fenced backyard, central heating and central air, public sewer, and a 0.29-acre lot.
Located in Charlotte near uptown and Wesley Heights, the property offers nighttime skyline views. Each residence is separately arranged, while the common outdoor area and driveway access serve the overall duplex configuration. There is no HOA, and the structure dates to 1953.
Located in Charlotte near uptown and Wesley Heights, the property offers nighttime skyline views. Each residence is separately arranged, while the common outdoor area and driveway access serve the overall duplex configuration. There is no HOA, and the structure dates to 1953.
Key Highlights
- Full‑brick, single‑level duplex with approximately 1,450 heated square feet
- Two residences, each with a split two‑bedroom layout and one full bathroom
- 0.29‑acre parcel near uptown Charlotte and Wesley Heights
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
$19,052
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
3.23%
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%
$381,040
$381.0K
Cap Rate 7%
$272,171
$272.2K
Cap Rate 9%
$211,689
$211.7K
Market Conditions
NOI Build-Up for 1,450 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
$28.7K $19.80/SF
− Vacancy
−$1.5K −$1.03/SF
EGI
$27.2K $18.77/SF
− OpEx
−$8.2K −$5.63/SF
NOI
$19.1K $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%
$381,040
Cap Rate 7%
$272,171
Cap Rate 9%
$211,689
Alternative Uses
Best Use
Multifamily LT 5
$272.2K
$238.2K – $317.5K
NOI $19,052 @ 7.0% cap · market cap 3.23%
Second Best
Apartment 5plus
$250.6K
$219.3K – $292.4K
NOI $17,545 @ 7.0% cap · market cap 2.98%
Theoretical Best
Office A
$482.9K
$422.5K – $563.3K
NOI $33,800 @ 7.0% cap · market cap 5.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
761
Businesses Nearby
Explore this area
Business Placement
Demographics for 28208, NC
38,614
Population
17,842
Households
2.2
Avg Household Size
34
Median Age
26%
College-Educated
81%
High-School Grad
20.2 sq mi
ZIP Area
1,912
Density / Sq Mi
$51,339
Median Household Income
$40,359
Median Earnings
$1,173
Median Rent
$198,300
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 separately configured residences provide private living areas, kitchens, covered porches, and laundry space.
Where is this duplex located?
The property is located at 3019 Columbus Circle Charlotte, NC.
What is the asking price?
The asking price for this property is $589,000.
What are key features of this property?
This property features: Full‑brick, single‑level duplex with approximately 1,450 heated square feet; Two residences, each with a split two‑bedroom layout and one full bathroom; 0.29‑acre parcel near uptown Charlotte and Wesley Heights
