Townhome-Style
For Sale
$475,000
112 Angle St, Cherryville, NC 28021
Both units are leased for one-year terms with options to extend.
Property Size3,045 SF
Price / SF$155.99
Days on Market34
Property Features for 112 Angle St
General Information
Standard status
Active
Size
3,045 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 3BR/2.5BA
Multifamily Units
2
Additional Details
Gross Income
$37,200
Building Details
Year Built
2021
Tenancy
Multi
Listing Agency:
RE/MAX Executive
(803) 370-2426
Listed By:
Cherie Burris · License #62257
Source:
Lewisandkirk
Added: Jul 26
Changed: Aug 28
Last Checked: Aug 25 at 5:00AM
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 RE/MAX Executive
Investment Insights
Based on property information with market context.
This 3,045-square-foot duplex was built in 2021 and is configured as townhome-style residences. The described layout places the kitchen at the center of an open main living area, with white shaker cabinetry, granite countertops, a breakfast bar, pantry, and stainless steel appliances. LVP flooring serves the primary living spaces, while carpet covers the stairs and upper-level areas. The floor plan includes three bedrooms, two-and-a-half baths, an upstairs laundry closet, a primary suite, two additional bedrooms, and a single-car garage with an oversized two-car driveway.
Both units are leased under one-year terms with options to extend. Tenants are responsible for utilities, lawn care, and trash service. The property is located at 112 Angle St in Cherryville, North Carolina.
Both units are leased under one-year terms with options to extend. Tenants are responsible for utilities, lawn care, and trash service. The property is located at 112 Angle St in Cherryville, North Carolina.
Key Highlights
- 3,045‑square‑foot duplex built in 2021
- Both units leased for 1‑year terms with options to extend
- Three‑bedroom, 2.5‑bath townhome‑style layout
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
$35,305
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
7.43%
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%
$706,100
$706.1K
Cap Rate 7%
$504,357
$504.4K
Cap Rate 9%
$392,278
$392.3K
Market Conditions
NOI Build-Up for 3,045 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
$54.8K $18.00/SF
− Vacancy
−$4.4K −$1.44/SF
EGI
$50.4K $16.56/SF
− OpEx
−$15.1K −$4.97/SF
NOI
$35.3K $11.59/SF
Area
Gaston County, NC
Vacancy
7.98%
Lease Rate
$18.00 /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%
$706,100
Cap Rate 7%
$504,357
Cap Rate 9%
$392,278
Alternative Uses
Best Use
Multifamily LT 5
$504.4K
$441.3K – $588.4K
NOI $35,305 @ 7.0% cap · market cap 7.43%
Second Best
Apartment 5plus
$460.2K
$402.7K – $536.9K
NOI $32,215 @ 7.0% cap · market cap 6.78%
Theoretical Best
Office A
$958.4K
$838.6K – $1.12M
NOI $67,087 @ 7.0% cap · market cap 14.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
350
Businesses Nearby
Explore this area
Business Placement
Demographics for 28021, NC
13,669
Population
6,306
Households
2.2
Avg Household Size
44
Median Age
22%
College-Educated
89%
High-School Grad
58.8 sq mi
ZIP Area
232
Density / Sq Mi
$57,652
Median Household Income
$37,703
Median Earnings
$874
Median Rent
$196,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Both units are leased for one-year terms with options to extend.
Where is this duplex located?
The property is located at 112 Angle St Cherryville, NC.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 3,045‑square‑foot duplex built in 2021; Both units leased for 1‑year terms with options to extend; Three‑bedroom, 2.5‑bath townhome‑style layout
