Brick Duplex with Two
For Sale
Under Contract
$199,900
317 W D Avenue, Salisbury, NC 28144
Residential Income, Salisbury, NC
Property Size1,473 SF
Lot Size0.55 Acres
Price / SF$135.71
Days on Market107
Property Features for 317 W D Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R
Zoning description
GR6
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 2, Bathroom 1, Bedroom 1
Parking features
Driveway
Appliances
Electric Water Heater
Lot features
Level, Private
Elementary school
Elizabeth Koontz
Middle school
Knox
High school
Salisbury
Standard status
Active Under Contract
APN
061038
Lot size
0.55 Acres
Taxes and HOA fees
Tax Description
.55AC LOTS 5-9 BK. 16
Legal Description
.55AC LOTS 5-9 BK. 16
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1949
Floors in Building
1
Number of units
2
Building materials
Brick Full
Listing Agency:
I SHARE REALTY LLC
(704) 340-3860
Listed By:
Jamie Werkman
(704) 340-3860
Added: May 11
Changed: Aug 24
Last Checked: Aug 25 at 7:06AM
MLS# 4379914
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 at 315/317 W D Avenue in Salisbury contains two one-bedroom, one-bath units within 1,473 square feet of heated living area. Built in 1949, the property features full-brick construction, a crawl-space foundation, central heating, central air, and an electric water heater. Each residence includes one bedroom and one bathroom, creating a straightforward two-unit layout.
The property occupies a private, level 0.55-acre lot with driveway parking. Public water and sewer serve the site, while the absence of an HOA and restrictive covenants provides flexibility in property use. The R zoning designation and Salisbury, NC location are reflected in the property record.
The property occupies a private, level 0.55-acre lot with driveway parking. Public water and sewer serve the site, while the absence of an HOA and restrictive covenants provides flexibility in property use. The R zoning designation and Salisbury, NC location are reflected in the property record.
Key Highlights
- Two‑unit duplex with 1 bedroom and 1 bathroom per unit
- 1,473 square feet of total heated living area
- 0.55‑acre private, level lot
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
$13,304
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
6.66%
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%
$266,080
$266.1K
Cap Rate 7%
$190,057
$190.1K
Cap Rate 9%
$147,822
$147.8K
Market Conditions
NOI Build-Up for 1,473 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
$20.3K $13.80/SF
− Vacancy
−$1.3K −$0.90/SF
EGI
$19.0K $12.90/SF
− OpEx
−$5.7K −$3.87/SF
NOI
$13.3K $9.03/SF
Area
Rowan County, NC
Vacancy
6.50%
Lease Rate
$13.80 /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%
$266,080
Cap Rate 7%
$190,057
Cap Rate 9%
$147,822
Alternative Uses
Best Use
Multifamily LT 5
$190.1K
$166.3K – $221.7K
NOI $13,304 @ 7.0% cap · market cap 6.66%
Second Best
Apartment 5plus
$171.4K
$150.0K – $200.0K
NOI $11,997 @ 7.0% cap · market cap 6.00%
Theoretical Best
Office A
$463.6K
$405.7K – $540.9K
NOI $32,453 @ 7.0% cap · market cap 16.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
558
Businesses Nearby
Explore this area
Business Placement
Demographics for 28144, NC
26,254
Population
12,655
Households
2.1
Avg Household Size
40
Median Age
27%
College-Educated
89%
High-School Grad
30.1 sq mi
ZIP Area
872
Density / Sq Mi
$51,432
Median Household Income
$29,787
Median Earnings
$982
Median Rent
$205,900
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 one-bedroom residences occupy a level lot with public utilities and no HOA or restrictive covenants.
Where is this duplex located?
The property is located at 317 W D Avenue Salisbury, NC.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Two‑unit duplex with 1 bedroom and 1 bathroom per unit; 1,473 square feet of total heated living area; 0.55‑acre private, level lot
