Renovated Duplex with Fenced
For Sale
$399,000
2701 Watson Dr, Charlotte, NC 28208
Two updated two-bedroom units offer private entrances, refreshed interiors, and a shared fenced backyard near Uptown Charlotte.
Property Size1,561 SF
Price / SF$255.61
Days on Market61
Property Features for 2701 Watson Dr
General Information
Standard status
Active
Size
1,561 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
fenced backyard
private entrances
Building Details
Year Built
1952
Buildings
1
Listing Agency:
EXP Realty LLC
Listed By:
Madison Boyer
(301) 639-6269
Source:
Lewisandkirk
Added: Aug 10
Changed: Oct 6
Last Checked: Oct 7 at 1:48PM
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 EXP Realty LLC
Investment Insights
Based on property information with market context.
This duplex contains two matching units, each with 2 bedrooms and 1 bathroom across a combined 1,561 square feet. Both residences were updated within the past year and include living areas, kitchens, bathrooms, private entrances, and refreshed interior finishes. The property was built in 1952 and includes a fully fenced backyard suitable for outdoor use, pets, or entertaining.
One unit is vacant, while the second is leased through the end of January 2026. The property is located just outside Uptown Charlotte, with access to the city’s business district, shopping, dining, entertainment, and major highways.
One unit is vacant, while the second is leased through the end of January 2026. The property is located just outside Uptown Charlotte, with access to the city’s business district, shopping, dining, entertainment, and major highways.
Key Highlights
- Two‑unit duplex with identical 2‑bedroom, 1‑bathroom layouts
- 1,561 square feet across both units
- Both units updated within the past year
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,510
Cap Rate
5.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$410,200
$410.2K
Cap Rate 7%
$293,000
$293.0K
Cap Rate 9%
$227,889
$227.9K
Market Conditions
NOI Build-Up for 1,561 SF
Gross rent
$30.9K $19.80/SF
− Vacancy
−$1.6K −$1.03/SF
EGI
$29.3K $18.77/SF
− OpEx
−$8.8K −$5.63/SF
NOI
$20.5K $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 Rate 5%
$410,200
Cap Rate 7%
$293,000
Cap Rate 9%
$227,889
Alternative Uses
Best Use
Multifamily LT 5
$293.0K
$256.4K – $341.8K
NOI $20,510 @ 7.0% cap · market cap 5.14%
Second Best
Apartment 5plus
$269.8K
$236.1K – $314.8K
NOI $18,888 @ 7.0% cap · market cap 4.73%
Theoretical Best
Office A
$519.8K
$454.8K – $606.5K
NOI $36,387 @ 7.0% cap · market cap 9.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
563
Businesses Nearby
Explore this area
Business Placement
Demographics for 28208, NC
38,614
Population
17,842
Households
2.2
Avg Household Size
34
Median Age
26%
College-Educated
81%
High-School Grad
20.2 sq mi
ZIP Area
1,912
Density / Sq Mi
$51,339
Median Household Income
$40,359
Median Earnings
$1,173
Median Rent
$198,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two updated two-bedroom units offer private entrances, refreshed interiors, and a shared fenced backyard near Uptown Charlotte.
Where is this duplex located?
The property is located at 2701 Watson Dr Charlotte, NC.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Two‑unit duplex with identical 2‑bedroom, 1‑bathroom layouts; 1,561 square feet across both units; Both units updated within the past year
