New-Construction Duplex With Two
For Sale
$519,900
106 King Street A & B, Monroe, NC 28110
Completed duplex offers two independent 3-bedroom residences, each with private entrance and in-unit laundry.
Property Size2,543 SF
Price / SF$204.44
Days on Market42
Property Features for 106 King Street A & B
General Information
Standard status
Active
Size
2,543 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
2026
Listing Agency:
CEDAR REALTY LLC
Listed By:
Brandon Chase
Source:
Mycrosskeys
Added: Jul 25
Changed: Sep 3
Last Checked: Sep 4 at 10:37AM
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 CEDAR REALTY LLC
Investment Insights
Based on property information with market context.
This completed new-construction duplex includes two separate residences, each with 3 bedrooms and 2.5 bathrooms, along with a private entrance. Each unit features a spacious great room, a dedicated dining area, and a kitchen with breakfast space. Convenience is built into the layout with main-level laundry and a powder room. Upstairs, each residence provides a private primary suite with an ensuite bath, two additional bedrooms, and a second full bathroom.
The property is located near downtown Monroe and provides access to Highway 74 and the Monroe Expressway, with Atrium Health Union, shopping, and dining nearby.
Ready for its first owners or tenants, this property offers a two-home configuration without renovation or deferred maintenance associated with older multifamily buildings.
The property is located near downtown Monroe and provides access to Highway 74 and the Monroe Expressway, with Atrium Health Union, shopping, and dining nearby.
Ready for its first owners or tenants, this property offers a two-home configuration without renovation or deferred maintenance associated with older multifamily buildings.
Key Highlights
- Completed new‑construction duplex built in 2026 with two independent residences
- Approximately 2,543 heated SF total; each unit features 3 bedrooms and 2.5 bathrooms
- Each residence has a private entrance and in‑unit laundry on the main level
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
$22,969
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
4.42%
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%
$459,380
$459.4K
Cap Rate 7%
$328,129
$328.1K
Cap Rate 9%
$255,211
$255.2K
Market Conditions
NOI Build-Up for 2,543 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
$35.1K $13.80/SF
− Vacancy
−$2.3K −$0.90/SF
EGI
$32.8K $12.90/SF
− OpEx
−$9.8K −$3.87/SF
NOI
$23.0K $9.03/SF
Area
Union 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%
$459,380
Cap Rate 7%
$328,129
Cap Rate 9%
$255,211
Alternative Uses
Best Use
Multifamily LT 5
$328.1K
$287.1K – $382.8K
NOI $22,969 @ 7.0% cap · market cap 4.42%
Second Best
Apartment 5plus
$298.1K
$260.9K – $347.8K
NOI $20,870 @ 7.0% cap · market cap 4.01%
Theoretical Best
Office A
$785.5K
$687.3K – $916.4K
NOI $54,984 @ 7.0% cap · market cap 10.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
696
Businesses Nearby
Explore this area
Business Placement
Demographics for 28110, NC
53,316
Population
20,236
Households
2.6
Avg Household Size
37
Median Age
24%
College-Educated
87%
High-School Grad
127.4 sq mi
ZIP Area
418
Density / Sq Mi
$81,221
Median Household Income
$41,425
Median Earnings
$1,313
Median Rent
$302,600
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 - Completed duplex offers two independent 3-bedroom residences, each with private entrance and in-unit laundry.
Where is this duplex located?
The property is located at 106 King Street A & B Monroe, NC.
What is the asking price?
The asking price for this property is $519,900.
What are key features of this property?
This property features: Completed new‑construction duplex built in 2026 with two independent residences; Approximately 2,543 heated SF total; each unit features 3 bedrooms and 2.5 bathrooms; Each residence has a private entrance and in‑unit laundry on the main level
