New-Construction Duplex with Primary
For Sale
$469,000
1050 5th St NE, Hickory, NC 28601
Two-level units offer private backyards, central heating and cooling, and fully electric systems.
Property Size3,038 SF
Price / SF$154.38
Days on Market15
Property Features for 1050 5th St NE
General Information
Standard status
Active
Size
3,038 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
private backyard space
Building Details
Year Built
2026
Buildings
1
Listing Agency:
(704) 363-5120
Listed By:
Kay Fisher
(704) 363-5120
Source:
Kbfisher
Added: Aug 15
Changed: Aug 28
Last Checked: Aug 26 at 12:43PM
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 Kay Fisher
Investment Insights
Based on property information with market context.
This 2026 duplex contains 3,038 total square feet across two residential units. Each unit has a first-floor primary suite with a private full bath, an open living area, half bath, two upstairs bedrooms, an additional full bath, loft or bonus space, and extra closet storage. The property includes six bedrooms, four full baths, and two half baths overall.
Both units are fully electric and equipped with central heating and cooling. Each also has private backyard space. The duplex is located near Lenoir-Rhyne University and other Hickory-area schools, with Viewmont restaurants, grocery stores, and shopping a short drive away.
Both units are fully electric and equipped with central heating and cooling. Each also has private backyard space. The duplex is located near Lenoir-Rhyne University and other Hickory-area schools, with Viewmont restaurants, grocery stores, and shopping a short drive away.
Key Highlights
- 3,038 total square feet in a two‑unit duplex
- Built in 2026
- Each unit includes a first‑floor primary suite with private full bath
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
$27,440
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
5.85%
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%
$548,800
$548.8K
Cap Rate 7%
$392,000
$392.0K
Cap Rate 9%
$304,889
$304.9K
Market Conditions
NOI Build-Up for 3,038 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
$41.9K $13.80/SF
− Vacancy
−$2.7K −$0.90/SF
EGI
$39.2K $12.90/SF
− OpEx
−$11.8K −$3.87/SF
NOI
$27.4K $9.03/SF
Area
Catawba 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%
$548,800
Cap Rate 7%
$392,000
Cap Rate 9%
$304,889
Alternative Uses
Best Use
Multifamily LT 5
$392.0K
$343.0K – $457.3K
NOI $27,440 @ 7.0% cap · market cap 5.85%
Second Best
Apartment 5plus
$364.3K
$318.7K – $425.0K
NOI $25,499 @ 7.0% cap · market cap 5.44%
Theoretical Best
Office A
$887.4K
$776.5K – $1.04M
NOI $62,121 @ 7.0% cap · market cap 13.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
513
Businesses Nearby
Explore this area
Business Placement
Demographics for 28601, NC
53,973
Population
23,400
Households
2.3
Avg Household Size
42
Median Age
35%
College-Educated
90%
High-School Grad
47.1 sq mi
ZIP Area
1,146
Density / Sq Mi
$67,839
Median Household Income
$41,697
Median Earnings
$951
Median Rent
$236,100
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-level units offer private backyards, central heating and cooling, and fully electric systems.
Where is this duplex located?
The property is located at 1050 5th St NE Hickory, NC.
What is the asking price?
The asking price for this property is $469,000.
What are key features of this property?
This property features: 3,038 total square feet in a two‑unit duplex; Built in 2026; Each unit includes a first‑floor primary suite with private full bath
