Two-Story Duplex with Private
101/103 Baldwin Avenue, Spencer, NC 28159
For Sale
$439,900
Two-story duplex with private entrances, open living and dining areas, and rear patio access on both sides.
Property Size2,026 SF
Price / SF$168.54
Days on Market112
Property Features for 101/103 Baldwin Avenue
General Information
Standard status
Size
Property subtype
Amenities
Public Sewer
Additional parcels description:, Parcel Number: 033 459, Assessed Value: $15,300
Central Air
Forced Air
Electric Dryer Hookup, Washer Hookup
Listing ID: CAR4405982, Standard Status: Active, MLS Status: Active, Property Subtype: Duplex, 104 days on market, Special Conditions: None
Driveway
Elementary School: Unspecified, Middle School: Unspecified, High School: Unspecified
6 total bedrooms
Built in 2026, Living area: 2610, Construction Materials: Vinyl
County/Parish: Rowan
4 full bathrooms, 2 half bathrooms
Water Source: City
Slab
All Utilities
Allowed: Yes
Road Responsibility: Publicly Maintained Road, Road Surface: Concrete
Dishwasher, Microwave, Oven, Refrigerator with Ice Maker
Building Details
Building Size
Year Built
Buildings
Stories
Tenancy
Listing Agency:
EXP Realty LLC
(888) 584-9431
Listed By:
Brett Metcalf
(770) 401-2793
Source:
Blackstreaminternational
Added: Jul 21
Changed: Nov 8
Last Checked: Nov 8 at 6:10AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of EXP Realty LLC
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Investment Insights
Based on property information with market context.
This two-story duplex at 101/103 Baldwin Avenue in Spencer, NC 28159 is designed with matching, mirror-image layouts on each side. Each unit features three bedrooms, 2.5 bathrooms, and private entrances. The main level includes an open-concept living and dining area, a modern kitchen with an island and pantry, a half bathroom, a dedicated laundry area, and access to a rear patio. Upstairs, the floor plan includes three bedrooms, including a primary suite with a private bath, plus a second full bathroom and ample closet space.
With a total property size of 2,610 SF and a year built of 2026, the design supports low-maintenance ownership while keeping the unit layouts functional and consistent from side to side.
The arrangement also allows for flexible living and rental options, including the ability to occupy one side while renting the other.
With a total property size of 2,610 SF and a year built of 2026, the design supports low-maintenance ownership while keeping the unit layouts functional and consistent from side to side.
The arrangement also allows for flexible living and rental options, including the ability to occupy one side while renting the other.
Key Highlights
- Mirror‑image two‑story duplex plan with three bedrooms and 2.5 bathrooms per side
- Private entrances for each unit
- Open‑concept living and dining area plus modern kitchen with island and pantry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,574
Cap Rate
5.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$471,480
$471.5K
Cap Rate 7%
$336,771
$336.8K
Cap Rate 9%
$261,933
$261.9K
Market Conditions
NOI Build-Up for 2,610 SF
Gross rent
$36.0K $13.80/SF
− Vacancy
−$2.3K −$0.90/SF
EGI
$33.7K $12.90/SF
− OpEx
−$10.1K −$3.87/SF
NOI
$23.6K $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 Rate 5%
$471,480
Cap Rate 7%
$336,771
Cap Rate 9%
$261,933
Alternative Uses
Best Use
Multifamily LT 5
$336.8K
$294.7K – $392.9K
NOI $23,574 @ 7.0% cap · market cap 5.36%
Second Best
Apartment 5plus
$303.7K
$265.7K – $354.3K
NOI $21,257 @ 7.0% cap · market cap 4.83%
Theoretical Best
Office A
$920.1K
$805.1K – $1.07M
NOI $64,404 @ 7.0% cap · market cap 14.64%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
124
Businesses Nearby
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Business Placement
Demographics for 28159, NC
3,067
Population
1,458
Households
2.1
Avg Household Size
39
Median Age
23%
College-Educated
81%
High-School Grad
2.2 sq mi
ZIP Area
1,394
Density / Sq Mi
$63,396
Median Household Income
$43,302
Median Earnings
$1,042
Median Rent
$160,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two-story duplex with private entrances, open living and dining areas, and rear patio access on both sides.
Where is this duplex located?
The property is located at 101/103 Baldwin Avenue Spencer, NC.
What is the asking price?
The asking price for this property is $439,900.
What are key features of this property?
This property features: Mirror‑image two‑story duplex plan with three bedrooms and 2.5 bathrooms per side; Private entrances for each unit; Open‑concept living and dining area plus modern kitchen with island and pantry
