Brick Duplex with Updated
For Sale
$469,900
14 Oteen Church Rd, Asheville, NC 28805
Two matching units offer refreshed finishes, private outdoor improvements, and unfinished basement storage or workspace.
Property Size1,580 SF
Price / SF$297.41
Days on Market19
Property Features for 14 Oteen Church Rd
General Information
Standard status
Active
Size
1,580 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Building Details
Year Built
1979
Construction
solid brick
Listed By:
Lynn Alvarez
(704) 975-2429
Source:
Livingingreatercharlotte
Added: Sep 9
Changed: Sep 12
Last Checked: Sep 26 at 6:42AM
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 Lynn Alvarez
Investment Insights
Based on property information with market context.
This 1,580-square-foot duplex at 14 Oteen Church Rd features two matching units within a solid brick building constructed in 1979. Improvements include luxury vinyl flooring, interior and exterior paint, gutters, water heaters, LED lighting, rear decks, stairways, and paved driveways. Unit A has a fully remodeled kitchen with new appliances. The unfinished basement adds storage and workshop space, with potential for future expansion.
The property is in East Asheville near East Village Grill, Filo Coffeeshop and bakery, Moma's and Beer, Ingles, the post office, and public transit. The VA Hospital is within walking distance, while the Blue Ridge Parkway and Mountains-to-Sea Trail provide nearby outdoor access. Downtown Asheville is a short drive away.
The property is in East Asheville near East Village Grill, Filo Coffeeshop and bakery, Moma's and Beer, Ingles, the post office, and public transit. The VA Hospital is within walking distance, while the Blue Ridge Parkway and Mountains-to-Sea Trail provide nearby outdoor access. Downtown Asheville is a short drive away.
Key Highlights
- 1,580‑square‑foot brick duplex with two matching units
- Built in 1979 and maintained by its original owner
- Recent improvements include flooring, paint, gutters, water heaters, LED lighting, decks, and driveways
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
$17,759
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
3.78%
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%
$355,180
$355.2K
Cap Rate 7%
$253,700
$253.7K
Cap Rate 9%
$197,322
$197.3K
Market Conditions
NOI Build-Up for 1,580 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
$28.8K $18.24/SF
− Vacancy
−$3.4K −$2.18/SF
EGI
$25.4K $16.06/SF
− OpEx
−$7.6K −$4.82/SF
NOI
$17.8K $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%
$355,180
Cap Rate 7%
$253,700
Cap Rate 9%
$197,322
Alternative Uses
Best Use
Multifamily LT 5
$253.7K
$222.0K – $296.0K
NOI $17,759 @ 7.0% cap · market cap 3.78%
Second Best
Apartment 5plus
$220.0K
$192.5K – $256.7K
NOI $15,403 @ 7.0% cap · market cap 3.28%
Theoretical Best
Office A
$499.6K
$437.2K – $582.9K
NOI $34,973 @ 7.0% cap · market cap 7.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
552
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
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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
What type of property is this?
Duplex - Two matching units offer refreshed finishes, private outdoor improvements, and unfinished basement storage or workspace.
Where is this duplex located?
The property is located at 14 Oteen Church Rd Asheville, NC.
What is the asking price?
The asking price for this property is $469,900.
What are key features of this property?
This property features: 1,580‑square‑foot brick duplex with two matching units; Built in 1979 and maintained by its original owner; Recent improvements include flooring, paint, gutters, water heaters, LED lighting, decks, and driveways
