Duplex with Separate
For Sale
$260,000
1501 Madison Street, Gastonia, NC 28052
Two cottage-style residences provide distinct living areas in Gastonia.
Property Size1,900 SF
Price / SF$154.76
Days on Market8
Property Features for 1501 Madison Street
General Information
Standard status
Active
Size
1,900 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Amenities
Public Sewer
Additional parcels description:, Parcel Number: 113325, Assessed Value: $174,120
Ceiling Fan(s), Central Air
Central, Heat Pump
Main Level
Listing ID: CAR4430853, Standard Status: Active, MLS Status: Active, Property Subtype: Duplex, 3 days on market, Special Conditions: None
On Street
Elementary School: Lingerfeldt, Middle School: Yorkchester, High School: Hunter Huss
4 total bedrooms
Built in 1900, Living area: 1680, Construction Materials: Vinyl
Subdivision: Southgate, County/Parish: Gaston
2 full bathrooms
Water Source: City
Crawl Space
Allowed: Yes
All Utilities
Road Responsibility: Publicly Maintained Road, Road Surface: Concrete
Building Details
Building Size
1,900 SF
Year Built
1900
Buildings
2
Listing Agency:
EXP Realty LLC Ballantyne
(704) 248-8230
Listed By:
Angie Castro · License #327991
(704) 318-5494
Source:
Blackstreaminternational
Added: Oct 2
Changed: Oct 7
Last Checked: Oct 7 at 2:34PM
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 Ballantyne
Investment Insights
Based on property information with market context.
This duplex contains two separate cottages with independent living spaces. The property totals 1,680 square feet and dates to 1900.
Located in Gastonia, the property is described as having access to shopping, dining, major roads, and local amenities.
Located in Gastonia, the property is described as having access to shopping, dining, major roads, and local amenities.
Key Highlights
- Two separate cottages with individual living spaces
- 1,680 square feet total
- Built in 1900
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,479
Cap Rate
7.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$389,580
$389.6K
Cap Rate 7%
$278,271
$278.3K
Cap Rate 9%
$216,433
$216.4K
Market Conditions
NOI Build-Up for 1,680 SF
Gross rent
$30.2K $18.00/SF
− Vacancy
−$2.4K −$1.44/SF
EGI
$27.8K $16.56/SF
− OpEx
−$8.3K −$4.97/SF
NOI
$19.5K $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%
$389,580
Cap Rate 7%
$278,271
Cap Rate 9%
$216,433
Alternative Uses
Best Use
Multifamily LT 5
$278.3K
$243.5K – $324.7K
NOI $19,479 @ 7.0% cap · market cap 7.49%
Second Best
Apartment 5plus
$253.9K
$222.2K – $296.2K
NOI $17,774 @ 7.0% cap · market cap 6.84%
Theoretical Best
Office A
$528.8K
$462.7K – $616.9K
NOI $37,014 @ 7.0% cap · market cap 14.24%
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
221
Businesses Nearby
Explore this area
Business Placement
Demographics for 28052, NC
35,332
Population
15,561
Households
2.3
Avg Household Size
38
Median Age
16%
College-Educated
83%
High-School Grad
41.4 sq mi
ZIP Area
853
Density / Sq Mi
$46,015
Median Household Income
$34,339
Median Earnings
$1,058
Median Rent
$173,500
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 cottage-style residences provide distinct living areas in Gastonia.
Where is this duplex located?
The property is located at 1501 Madison Street Gastonia, NC.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: Two separate cottages with individual living spaces; 1,680 square feet total; Built in 1900
