Renovated Duplex with Detached
1416 Parkwood Ave, Charlotte, NC 28205
For Sale
$724,900
Renovated bungalow paired with a detached ADU offering additional living space and flexible occupancy options.
Property Size1,957 SF
Price / SF$370.41
Days on Market57
Property Features for 1416 Parkwood Ave
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Public Transit
Additional Details
Multifamily Units
Building Details
Year Built
Year Renovated
Buildings
Construction
Listing Agency:
Realty One Group Revolution
Listed By:
Perry Wiese · License #294528
(704) 654-0108
Source:
Mycrosskeys
Added: Sep 12
Changed: Oct 26
Last Checked: Nov 6 at 2:24PM
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 Realty One Group Revolution
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Investment Insights
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This 1917 duplex property combines a renovated bungalow with a detached accessory dwelling unit. The main residence measures 1957 square feet and features refinished original hardwood floors, an open living and dining arrangement, a split-bedroom layout, and an expansive primary suite with a walk-in closet and updated bath. Its kitchen includes a gas range, semi-custom cabinetry, and a quartz island. Major improvements completed in 2019 include the roof, HVAC, plumbing, electrical system, and windows.
The detached ADU contains a bedroom, full bathroom, kitchen, and living area and is currently leased. The property has no HOA and no short-term rental restrictions. Located at 1416 Parkwood Ave in Charlotte’s Plaza Midwood area, it offers access to local breweries, coffee shops, restaurants, greenway access, the light rail, and Uptown.
The detached ADU contains a bedroom, full bathroom, kitchen, and living area and is currently leased. The property has no HOA and no short-term rental restrictions. Located at 1416 Parkwood Ave in Charlotte’s Plaza Midwood area, it offers access to local breweries, coffee shops, restaurants, greenway access, the light rail, and Uptown.
Key Highlights
- Detached ADU with bedroom, full bath, kitchen, and living area
- Main residence measures 1957 square feet
- Roof, HVAC, plumbing, electrical, and windows updated in 2019
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,714
Cap Rate
3.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$514,280
$514.3K
Cap Rate 7%
$367,343
$367.3K
Cap Rate 9%
$285,711
$285.7K
Market Conditions
NOI Build-Up for 1,957 SF
Gross rent
$38.7K $19.80/SF
− Vacancy
−$2.0K −$1.03/SF
EGI
$36.7K $18.77/SF
− OpEx
−$11.0K −$5.63/SF
NOI
$25.7K $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%
$514,280
Cap Rate 7%
$367,343
Cap Rate 9%
$285,711
Alternative Uses
Best Use
Multifamily LT 5
$367.3K
$321.4K – $428.6K
NOI $25,714 @ 7.0% cap · market cap 3.55%
Second Best
Apartment 5plus
$338.3K
$296.0K – $394.7K
NOI $23,679 @ 7.0% cap · market cap 3.27%
Theoretical Best
Office A
$651.7K
$570.2K – $760.3K
NOI $45,618 @ 7.0% cap · market cap 6.29%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
628
Businesses Nearby
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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
$410,800
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Charlotte, NC
Properties on Market for Duplexes in Charlotte
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Renovated bungalow paired with a detached ADU offering additional living space and flexible occupancy options.
Where is this duplex located?
The property is located at 1416 Parkwood Ave Charlotte, NC.
What is the asking price?
The asking price for this property is $724,900.
What are key features of this property?
This property features: Detached ADU with bedroom, full bath, kitchen, and living area; Main residence measures 1957 square feet; Roof, HVAC, plumbing, electrical, and windows updated in 2019
