Modern Duplex with Attached
New
For Sale
$559,000
116 Arnold Rd, Asheville, NC 28805
Two-unit property with open-concept interiors, updated finishes, and a private rear deck.
Property Size2,274 SF
Price / SF$245.82
Days on Market5
Property Features for 116 Arnold Rd
General Information
Standard status
Active
Size
2,274 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
private rear deck
Building Details
Year Built
2022
Buildings
1
Abandoned
No
Listing Agency:
Mosaic Community Lifestyle Realty
(828) 712-9395
Listed By:
Eric Albee
Source:
Lewisandkirk
Added: Aug 26
Changed: Aug 28
Last Checked: Aug 29 at 12:31PM
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 Mosaic Community Lifestyle Realty
Investment Insights
Based on property information with market context.
Completed in 2022, this 2,274-square-foot duplex pairs a primary residence with an attached ADU. Both units feature open-concept living areas, granite countertops, and stainless steel appliances, creating a consistent modern finish package throughout the property. A private rear deck adds outdoor space for everyday use or entertaining.
The property is located at 116 Arnold Rd in Asheville, along the border of the Blue Ridge Parkway. Its two-unit layout supports flexible residential use, including multi-generational occupancy or leasing one residence while occupying the other. The property is also positioned for access to scenic outdoor recreation associated with the Parkway.
The property is located at 116 Arnold Rd in Asheville, along the border of the Blue Ridge Parkway. Its two-unit layout supports flexible residential use, including multi-generational occupancy or leasing one residence while occupying the other. The property is also positioned for access to scenic outdoor recreation associated with the Parkway.
Key Highlights
- 2,274‑square‑foot duplex with a primary residence and attached ADU
- Built in 2022
- Granite countertops and stainless steel appliances in both units
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
$25,559
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
4.57%
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%
$511,180
$511.2K
Cap Rate 7%
$365,129
$365.1K
Cap Rate 9%
$283,989
$284.0K
Market Conditions
NOI Build-Up for 2,274 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
$41.5K $18.24/SF
− Vacancy
−$5.0K −$2.18/SF
EGI
$36.5K $16.06/SF
− OpEx
−$11.0K −$4.82/SF
NOI
$25.6K $11.24/SF
Area
Buncombe County, NC
Vacancy
11.97%
Lease Rate
$18.24 /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%
$511,180
Cap Rate 7%
$365,129
Cap Rate 9%
$283,989
Alternative Uses
Best Use
Multifamily LT 5
$365.1K
$319.5K – $426.0K
NOI $25,559 @ 7.0% cap · market cap 4.57%
Second Best
Apartment 5plus
$316.7K
$277.1K – $369.5K
NOI $22,168 @ 7.0% cap · market cap 3.97%
Theoretical Best
Office A
$719.1K
$629.2K – $838.9K
NOI $50,335 @ 7.0% cap · market cap 9.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
514
Businesses Nearby
Explore this area
Business Placement
Demographics for 28805, NC
18,554
Population
10,737
Households
1.7
Avg Household Size
48
Median Age
49%
College-Educated
96%
High-School Grad
26.5 sq mi
ZIP Area
700
Density / Sq Mi
$67,104
Median Household Income
$35,897
Median Earnings
$1,198
Median Rent
$360,600
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 - Two-unit property with open-concept interiors, updated finishes, and a private rear deck.
Where is this duplex located?
The property is located at 116 Arnold Rd Asheville, NC.
What is the asking price?
The asking price for this property is $559,000.
What are key features of this property?
This property features: 2,274‑square‑foot duplex with a primary residence and attached ADU; Built in 2022; Granite countertops and stainless steel appliances in both units
