Duet-Style Townhome Duplex Under
For Sale
$999,900
1400 West Boulevard, Charlotte, NC 28208
Residential Income, Charlotte, NC
Property Size3,967 SF
Lot Size0.23 Acres
Price / SF$252.05
Days on Market72
Property Features for 1400 West Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Zoning description
N1-B
Bedrooms
6
Bathrooms
6
Full bathrooms
4
Half bathrooms
2
Rooms
Bedroom 2, Bathroom 5, Bathroom 6, Bedroom 6, Bathroom 2, Bedroom 5, Bedroom 3, Bathroom 1, Laundry Room, Bathroom 3, Bedroom 1, Bedroom 4, Bathroom 4
Parking features
Garage - Attached, Driveway
Pets allowed
Call
Appliances
Dishwasher, Electric Range, Microwave
Elementary school
Unspecified
Middle school
Unspecified
High school
Unspecified
Standard status
Active
APN
11903103
Lot size
0.23 Acres
Taxes and HOA fees
Tax Description
L1 B5 M967-511
Legal Description
L1 B5 M967-511
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Amenities
private balcony
Building Details
Year built
2026
Floors in Building
3
Number of units
2
Building materials
Hardboard Siding
Architectural style
Other
Listing Agency:
CEDAR REALTY LLC
(704) 453-2650
Listed By:
Brandon Chase · License #249103
(704) 305-4178
Added: Jun 11
Changed: Aug 19
Last Checked: Aug 21 at 5:06AM
MLS# 4392562
Copyright © 2026 Canopy MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Proposed construction in Charlotte’s South End offers a duet-style townhome design with two private residences under one roof. Planned for 2026 completion, the combined layout is approximately 3,967 heated SF on a 0.227-acre lot, with each residence featuring three bedrooms and 2.5 baths, a private balcony, and open-concept living plus flexible bonus space. Parking is provided via an attached 1-car garage per residence and a driveway, and the homes include central heating and central air.
The property is planned with public sewer service and includes kitchen appliances such as a dishwasher, electric range, and microwave. Proposed finish customization is available, allowing selections to be tailored during construction.
Conveniently located minutes from Uptown, South End dining and breweries, shopping, rail transit, and major employment centers, the configuration can support a range of living and ownership options, from living in one side and renting the other to leasing both residences.
The property is planned with public sewer service and includes kitchen appliances such as a dishwasher, electric range, and microwave. Proposed finish customization is available, allowing selections to be tailored during construction.
Conveniently located minutes from Uptown, South End dining and breweries, shopping, rail transit, and major employment centers, the configuration can support a range of living and ownership options, from living in one side and renting the other to leasing both residences.
Key Highlights
- Proposed duet‑style duplex with two private residences under one roof
- Combined 3,967 heated SF on a 0.227‑acre lot
- Each residence planned with 3 bedrooms and 2.5 baths plus flexible bonus space
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
$52,124
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
5.21%
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%
$1,042,480
$1.0M
Cap Rate 7%
$744,629
$744.6K
Cap Rate 9%
$579,156
$579.2K
Market Conditions
NOI Build-Up for 3,967 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
$78.5K $19.80/SF
− Vacancy
−$4.1K −$1.03/SF
EGI
$74.5K $18.77/SF
− OpEx
−$22.3K −$5.63/SF
NOI
$52.1K $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%
$1,042,480
Cap Rate 7%
$744,629
Cap Rate 9%
$579,156
Alternative Uses
Best Use
Multifamily LT 5
$744.6K
$651.6K – $868.7K
NOI $52,124 @ 7.0% cap · market cap 5.21%
Second Best
Apartment 5plus
$685.7K
$600.0K – $800.0K
NOI $48,000 @ 7.0% cap · market cap 4.80%
Theoretical Best
Office A
$1.32M
$1.16M – $1.54M
NOI $92,471 @ 7.0% cap · market cap 9.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
499
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
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 - Proposed duet-style duplex with two private residences under one roof, each with a balcony and attached 1-car garage.
Where is this duplex located?
The property is located at 1400 West Boulevard Charlotte, NC.
What is the asking price?
The asking price for this property is $999,900.
What are key features of this property?
This property features: Proposed duet‑style duplex with two private residences under one roof; Combined 3,967 heated SF on a 0.227‑acre lot; Each residence planned with 3 bedrooms and 2.5 baths plus flexible bonus space
