Duplex With Existing
New
For Sale
$325,000
4008 Winfield Drive, Charlotte, NC 28205
Two-unit residential property with tenants in place on month-to-month leases who would like to remain.
Property Size1,412 SF
Price / SF$230.17
Days on Market3
Property Features for 4008 Winfield Drive
General Information
Standard status
Active
Size
1,412 SF
Property subtype
Multi-Family
Additional Details
Average Monthly Rent
$1,275
Building Details
Year Built
1956
Listing Agency:
Keller Williams South Park
(704) 221-8553
Listed By:
Jackie Bevington · License #CAR82691
Source:
Landandluxury
Added: Aug 10
Changed: Aug 11
Last Checked: Aug 11 at 5:38AM
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 Keller Williams South Park
Investment Insights
Based on property information with market context.
This two-unit residential property was built in 1956 and contains 1,412 square feet. Both units are currently occupied under month-to-month lease arrangements, and the tenants have expressed interest in continuing their occupancy.
The property is located at 4008 Winfield Drive in Charlotte, North Carolina 28205. Showings are available by appointment through the listing agent.
The property is located at 4008 Winfield Drive in Charlotte, North Carolina 28205. Showings are available by appointment through the listing agent.
Key Highlights
- 1,412‑square‑foot duplex
- Built in 1956
- Both units currently occupied by tenants
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
$18,553
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
5.71%
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%
$371,060
$371.1K
Cap Rate 7%
$265,043
$265.0K
Cap Rate 9%
$206,144
$206.1K
Market Conditions
NOI Build-Up for 1,412 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
$28.0K $19.80/SF
− Vacancy
−$1.5K −$1.03/SF
EGI
$26.5K $18.77/SF
− OpEx
−$8.0K −$5.63/SF
NOI
$18.6K $13.14/SF
Area
Charlotte, NC
Vacancy
5.20%
Lease Rate
$19.80 /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%
$371,060
Cap Rate 7%
$265,043
Cap Rate 9%
$206,144
Alternative Uses
Best Use
Multifamily LT 5
$265.0K
$231.9K – $309.2K
NOI $18,553 @ 7.0% cap · market cap 5.71%
Second Best
Apartment 5plus
$244.1K
$213.6K – $284.8K
NOI $17,085 @ 7.0% cap · market cap 5.26%
Theoretical Best
Office A
$470.2K
$411.4K – $548.6K
NOI $32,914 @ 7.0% cap · market cap 10.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
773
Businesses Nearby
Explore this area
Business Placement
Demographics for 28205, NC
49,600
Population
24,605
Households
2
Avg Household Size
34
Median Age
46%
College-Educated
86%
High-School Grad
11.8 sq mi
ZIP Area
4,203
Density / Sq Mi
$72,479
Median Household Income
$49,340
Median Earnings
$1,376
Median Rent
$410,800
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 residential property with tenants in place on month-to-month leases who would like to remain.
Where is this duplex located?
The property is located at 4008 Winfield Drive Charlotte, NC.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 1,412‑square‑foot duplex; Built in 1956; Both units currently occupied by tenants
