For Sale
$279,000
Pending
119 Fairfax Avenue, Asheville, NC 28806
Duplexes
Property Size1,909 SF
Days on Market21
Property Features for 119 Fairfax Avenue
General Information
Standard status
Pending
Size
1,909 SF
Property subtype
Duplex
Amenities
Infill Lot, Sloped, Wooded
Composition
Public Sewer
Additional parcels description:, Parcel Number: 9638-22-1819-00000, Assessed Value: $266,000, Zoning: RM8
Concrete, Laminate, Linoleum, Vinyl
Window Unit(s)
Oil
Common Area, In Basement
Listing ID: CAR4424832, Standard Status: Active Under Contract, MLS Status: Under Contract-Show, Property Subtype: Duplex, 5 days on market, Special Conditions: None
6 total parking spaces, Other Parking: Can fit 4 in Parkig aprom and 2 in drive way to basement apartment., Driveway, On Street, Parking Space(s)
Elementary School: Lucy S. Herring, Middle School: Asheville, High School: Asheville
Apartment, Daylight, Storage Space
4 total bedrooms
Built in 1909, Living area: 1789, Construction Materials: Asbestos, Vinyl
Subdivision: Galax Park, County/Parish: Buncombe
2 full bathrooms
Cable Available, Electricity Connected, Water Source: City
Basement
Sewer, Trash Collection, Water
Allowed: Yes
All except water
Road Responsibility: Publicly Maintained Road, Road Surface: Concrete, Dirt, Gravel, Paved
Patio/Porch Features: Covered, Front Porch, Patio
Electric Range, Refrigerator, Other equipment: Fuel Tank - Owned
Building Details
Building Size
1,909 SF
Year Built
1909
Listing Agency:
Mosaic Community Lifestyle Realty
(828) 707-9556
Listed By:
Joseph Ruiz
(828) 231-3475
Source:
Blackstreaminternational
Added: Sep 16
Changed: Oct 6
Last Checked: Oct 5 at 6:25PM
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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,108
Cap Rate
7.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$402,160
$402.2K
Cap Rate 7%
$287,257
$287.3K
Cap Rate 9%
$223,422
$223.4K
Market Conditions
NOI Build-Up for 1,789 SF
Gross rent
$32.6K $18.24/SF
− Vacancy
−$3.9K −$2.18/SF
EGI
$28.7K $16.06/SF
− OpEx
−$8.6K −$4.82/SF
NOI
$20.1K $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 Rate 5%
$402,160
Cap Rate 7%
$287,257
Cap Rate 9%
$223,422
Alternative Uses
Best Use
Multifamily LT 5
$287.3K
$251.4K – $335.1K
NOI $20,108 @ 7.0% cap · market cap 7.21%
Second Best
Apartment 5plus
$249.1K
$218.0K – $290.7K
NOI $17,440 @ 7.0% cap · market cap 6.25%
Theoretical Best
Office A
$565.7K
$495.0K – $660.0K
NOI $39,599 @ 7.0% cap · market cap 14.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
679
Businesses Nearby
Explore this area
Business Placement
Demographics for 28806, NC
44,621
Population
21,185
Households
2.1
Avg Household Size
37
Median Age
45%
College-Educated
91%
High-School Grad
38.1 sq mi
ZIP Area
1,171
Density / Sq Mi
$59,925
Median Household Income
$37,743
Median Earnings
$1,224
Median Rent
$335,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
Where is this duplex located?
The property is located at 119 Fairfax Avenue Asheville, NC.
What is the asking price?
The asking price for this property is $279,000.
