Duplex Income
1028 Karendale Avenue Charlotte, NC 28208
1028 Karendale Avenue, Charlotte, NC, 28208
$400,000
For Sale
$400,000
Residential Multi Family, Other - Charlotte, NC
Property Size2,592 SF
Lot Size0.14 Acres
Price / SF$154.32
Days on Market21
Property Features for 1028 Karendale Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 7
- Bathrooms
- 3
- Rooms
- Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
- Standard status
- Active
- Size
- 2,592 SF
- Lot size
- 0.14 Acres
Building Details
- Year built
- 1938
- Architectural style
- Other
Listing Agency
NextHome Authority
7044580314,7046228039
10130 Perimeter Pkwy., Ste. 200, NC
Listed by
Ronda Carson · License #BK - 229808,PersonLicenseNumber
(704) 458-0314
Added: Jun 26 Checked: Jul 16 at 7:06 pm
MLS# 4397545
Listing URL
Copyright © 2026 NextHome, Inc. 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 1028 Karendale Avenue in Charlotte, NC consists of two residential units. According to the listing, one unit is tenant-occupied, supporting immediate rental income, while the second unit is currently vacant and ready for a new tenant or for an owner-occupant.
The property is located in Charlotte with convenient access to Uptown Charlotte, major highways, shopping, dining, and major employment centers. The listing also notes ongoing redevelopment in the surrounding area.
Offered for sale as a residential income property, this configuration supports both traditional rental use and owner-occupancy, depending on how the vacant unit is planned to be used.
The property is located in Charlotte with convenient access to Uptown Charlotte, major highways, shopping, dining, and major employment centers. The listing also notes ongoing redevelopment in the surrounding area.
Offered for sale as a residential income property, this configuration supports both traditional rental use and owner-occupancy, depending on how the vacant unit is planned to be used.
Key Highlights
- Duplex built in 1938 with 5 bedrooms and 3 bathrooms
- One unit is tenant‑occupied, providing immediate rental income
- Second unit is vacant and ready for a new tenant or owner‑occupant
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $51.3k | $19.80 |
| − Vacancy | −$2.7k | −$1.03 |
| EGI | $48.7k | $18.77 |
| − OpEx | −$14.6k | −$5.63 |
| NOI | $34.1k | $13.14 |
2,592 SF · lease $19.80/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$486.5K
$425.7K – $567.6K
NOI $34,057 @ 7.0% cap · market cap 8.51%
Second Best
Apartment 5plus
$448.0K
$392.0K – $522.7K
NOI $31,363 @ 7.0% cap · market cap 7.84%
Theoretical Best
Office A
$863.1K
$755.3K – $1.01M
NOI $60,420 @ 7.0% cap · market cap 15.10%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two-unit duplex with one tenant-occupied unit and one vacant unit ready for a new tenant.
Where is this duplex located?
The property is located at 1028 Karendale Avenue Charlotte, NC.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Duplex built in 1938 with 5 bedrooms and 3 bathrooms; One unit is tenant‑occupied, providing immediate rental income; Second unit is vacant and ready for a new tenant or owner‑occupant
