Two-Unit Duplex with Detached
1405 Hickory Grove Road, Gastonia, NC 28056
For Sale
$395,000
Two residences offer separate driveways, fenced yards, and distinct bedroom configurations.
Property Size2,793 SF
Price / SF$141.42
Days on Market20
Property Features for 1405 Hickory Grove Road
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Highway Access
Amenities
fenced in yards
SS Range & dishwasher
Laminate,Linoleum,Wood
1
No
5
Main Level
2793
Shared Well
0.42
Driveway
Dirt,Gravel,Paved
Crawl Space
Publicly Maintained Road
Yes
Building Details
Building Size
Year Built
Buildings
Listing Agency:
(980) 268-2585
Listed By:
Unithia McGruder
Source:
Hansleyrealty
Added: Oct 21
Changed: Nov 9
Last Checked: Nov 8 at 9:12PM
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 Unithia McGruder
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Investment Insights
Based on property information with market context.
The property comprises two homes totaling 2,793 square feet. The 1405 residence is permitted for three bedrooms and has four rooms with closets, a two-car garage, a new roof installed in 2024, and HVAC dating to approximately 2019. The 1407 home has two bedrooms and 1.5 bathrooms; its roof and HVAC were replaced in 2025. Both homes have fenced yards and individual driveways, plus a stainless steel range and dishwasher. Both septic systems were pumped in 2025.
The property is approximately 10 minutes from hospitals, shopping, I-85, and Highway 74, and 15 minutes from CLT airport. Water is supplied by a shared well.
The property is approximately 10 minutes from hospitals, shopping, I-85, and Highway 74, and 15 minutes from CLT airport. Water is supplied by a shared well.
Key Highlights
- Two homes totaling 2,793 square feet
- 1405: permitted for 3 bedrooms, with 4 rooms that have closets and a 2‑car garage
- 1407: 2 bedrooms and 1.5 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,383
Cap Rate
8.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$647,660
$647.7K
Cap Rate 7%
$462,614
$462.6K
Cap Rate 9%
$359,811
$359.8K
Market Conditions
NOI Build-Up for 2,793 SF
Gross rent
$50.3K $18.00/SF
− Vacancy
−$4.0K −$1.44/SF
EGI
$46.3K $16.56/SF
− OpEx
−$13.9K −$4.97/SF
NOI
$32.4K $11.59/SF
Area
Gaston County, NC
Vacancy
7.98%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$647,660
Cap Rate 7%
$462,614
Cap Rate 9%
$359,811
Alternative Uses
Best Use
Multifamily LT 5
$462.6K
$404.8K – $539.7K
NOI $32,383 @ 7.0% cap · market cap 8.20%
Second Best
Apartment 5plus
$422.1K
$369.4K – $492.5K
NOI $29,549 @ 7.0% cap · market cap 7.48%
Theoretical Best
Office A
$984.6K
$861.5K – $1.15M
NOI $68,920 @ 7.0% cap · market cap 17.45%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
103
Businesses Nearby
Explore this area
Business Placement
Demographics for 28056, NC
34,332
Population
14,415
Households
2.4
Avg Household Size
42
Median Age
33%
College-Educated
90%
High-School Grad
48.3 sq mi
ZIP Area
711
Density / Sq Mi
$90,422
Median Household Income
$48,531
Median Earnings
$1,097
Median Rent
$283,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in Gaston County, NC
Properties on Market for Duplexes in Gaston County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two residences offer separate driveways, fenced yards, and distinct bedroom configurations.
Where is this duplex located?
The property is located at 1405 Hickory Grove Road Gastonia, NC.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Two homes totaling 2,793 square feet; 1405: permitted for 3 bedrooms, with 4 rooms that have closets and a 2‑car garage; 1407: 2 bedrooms and 1.5 bathrooms
