Quadplex with Detached
For Sale
$645,000
111-113 Stewart Street, Hendersonville, NC 28792
Adaptable property combines separate living, gallery, studio, and short-term rental spaces within a walkable setting.
Property Size1,926 SF
Price / SF$235.49
Days on Market95
Property Features for 111-113 Stewart Street
General Information
Standard status
Active
Size
1,926 SF
Property subtype
Fourplex
Additional Details
Utilities to Site
Yes
Amenities
fireplaces
sleeping porch
washer-dryer
Level
Architectural Shingle
Fenced, Full
Public Sewer, Septic Installed
Additional parcels description:, Parcel Number: 9577196205, Assessed Value: $276,700, Zoning: GHMU
Vinyl, Wood
Window Unit(s)
Baseboard, Electric, Natural Gas, Wall Furnace
In Kitchen, Mud Room
Listing ID: CAR4410285, Standard Status: Active, MLS Status: Active, Property Subtype: Fourplex, 73 days on market, Special Conditions: None
4 open parking spaces, Other Parking: Two cars can fit in both driveways (Main House & Cottage). There is also street parking., Driveway, On Street
Elementary School: Hillandale, Middle School: Hendersonville, High School: Hendersonville
6 total bedrooms
Built in 1926, Living area: 2739, Construction Materials: Aluminum, Shingle/Shake, Wood
Subdivision: Stepp Jones Property, County/Parish: Henderson
Other structures: Shed(s)
4 full bathrooms
Cable Available, Electricity Connected, Natural Gas, Wired Internet Available, Water Source: City
Family Room, Fire Pit, Gas, Gas Log, Gas Vented, Insert, Living Room, Primary Bedroom, Other - See Remarks
Crawl Space
Allowed: Yes
Road Responsibility: Publicly Maintained Road, Road Surface: Gravel, Paved
Patio/Porch Features: Covered, Deck, Enclosed, Front Porch, Porch, Rear Porch, Screened, Fire Pit
Attic Stairs Pulldown, Pantry
Bar Fridge, Dryer, Electric Water Heater, Gas Range, Microwave, Refrigerator, Washer, Washer/Dryer
Building Details
Building Size
1,926 SF
Year Built
1926
Year Renovated
2020
Buildings
3
Abandoned
No
Listing Agency:
Howard Hanna Beverly-Hanks Asheville-Downtown
(828) 254-7221
Listed By:
Michelle Turner
(828) 365-6500
Source:
Blackstreaminternational
Added: Aug 1
Changed: Nov 1
Last Checked: Nov 1 at 5:07AM
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 Howard Hanna Beverly-Hanks Asheville-Downtown
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1926 property at 111-113 Stewart Street includes a main house, a garage studio, and a detached former writer’s cottage now used as a short-term rental. The studio has a full bath, kitchenette, work area, and loft. The main house provides separate access to a ground-floor gallery and an upper living area with two bedrooms, a full bath, kitchen, living room, and sleeping porch. Two lower-level fireplaces use gas logs, while the upstairs fireplace can operate with gas logs or wood. The cottage includes a full bath, kitchen, stacked washer-dryer, and its own septic system; a tie-in for city sewer is already installed.
The property is approximately four minutes on foot from A Southern Cup Fine Teas via Greenville Highway, with Flat Rock Wood Room even closer. Building improvements include updated wiring and plumbing in the main house and cottage, studio wiring and plumbing installed between 2011 and 2019, and new roofs on all three buildings in 2020. The cottage is set apart by mature mountain laurel, rhododendron, and hardwoods.
The property is approximately four minutes on foot from A Southern Cup Fine Teas via Greenville Highway, with Flat Rock Wood Room even closer. Building improvements include updated wiring and plumbing in the main house and cottage, studio wiring and plumbing installed between 2011 and 2019, and new roofs on all three buildings in 2020. The cottage is set apart by mature mountain laurel, rhododendron, and hardwoods.
Key Highlights
- Main house, garage studio, and detached cottage on one property
- 2,739 property size
- 1926 construction year
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,922
Cap Rate
7.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$958,440
$958.4K
Cap Rate 7%
$684,600
$684.6K
Cap Rate 9%
$532,467
$532.5K
Market Conditions
NOI Build-Up for 2,739 SF
Gross rent
$65.7K $24.00/SF
− Vacancy
−$1.8K −$0.67/SF
EGI
$63.9K $23.33/SF
− OpEx
−$16.0K −$5.83/SF
NOI
$47.9K $17.50/SF
Area
Henderson County, NC
Vacancy
2.80%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$958,440
Cap Rate 7%
$684,600
Cap Rate 9%
$532,467
Alternative Uses
Best Use
Office B
$684.6K
$599.0K – $798.7K
NOI $47,922 @ 7.0% cap · market cap 7.43%
Second Best
Multifamily LT 5
$351.5K
$307.6K – $410.1K
NOI $24,607 @ 7.0% cap · market cap 3.82%
Theoretical Best
Office A
$912.8K
$798.7K – $1.06M
NOI $63,895 @ 7.0% cap · market cap 9.91%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
197
Businesses Nearby
Explore this area
Business Placement
Demographics for 28792, NC
35,962
Population
18,121
Households
2
Avg Household Size
44
Median Age
26%
College-Educated
87%
High-School Grad
102.9 sq mi
ZIP Area
349
Density / Sq Mi
$55,066
Median Household Income
$32,312
Median Earnings
$1,131
Median Rent
$249,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Adaptable property combines separate living, gallery, studio, and short-term rental spaces within a walkable setting.
Where is this quadplex located?
The property is located at 111-113 Stewart Street Hendersonville, NC.
What is the asking price?
The asking price for this property is $645,000.
What are key features of this property?
This property features: Main house, garage studio, and detached cottage on one property; 2,739 property size; 1926 construction year
