Occupied Two-Unit
For Sale
$189,900
1595 N Long Street, Salisbury, NC 28144
Two leased residences feature private outdoor areas and shared gravel parking.
Property Size1,440 SF
Price / SF$131.88
Days on Market11
Property Features for 1595 N Long Street
General Information
Standard status
Active
Size
1,440 SF
Property subtype
Duplex
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
rear patio/deck area
gravel parking area
Size: 0.13, Size Units: Acres
Man Level Garage: 0
Details: Central Air
Heating: Central
Description: None
Days on Market: 4, Listing Price: 189900, Status: Active
Elementary: Handford Dole, Middle/Junior High: North Rowan, High School: North Rowan
Total Bathrooms: 4
Finished Area Above Grade: 1440, Area: 1440, Building Area: 1440, Construction Materials: Vinyl, Year Built: 1937, Construction Type: Site Built
City: Salisbury, State: NC, Zip: 28144, County: Rowan, Subdivision: None, Directions: For GPS Directions use 1595 N Long St ES, Salisbury NC
Full Bathrooms: 2
Sewer: Public Sewer, Water Source: City
Description: No
Auction Y/N: 0
Building Details
Building Size
1,440 SF
Year Built
1937
Buildings
1
Tenancy
Multi
Listing Agency:
Henderson Properties
(704) 880-8477
Listed By:
Anthony Papuga
(704) 880-8477
Source:
Blackstreaminternational
Added: Aug 19
Changed: Aug 28
Last Checked: Aug 24 at 3:57AM
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 Henderson Properties
Investment Insights
Based on property information with market context.
This duplex contains two tenant-occupied residences, with each unit offering 2 bedrooms, 1 full bath, and approximately 742 heated square feet. Both homes include a rear patio or deck area, along with access to a shared gravel parking area. The property was built in 1937.
Current occupancy is governed by month-to-month lease agreements, and the sale is subject to the existing tenancies. The asset is located at 1595 N Long St in Salisbury, North Carolina.
Current occupancy is governed by month-to-month lease agreements, and the sale is subject to the existing tenancies. The asset is located at 1595 N Long St in Salisbury, North Carolina.
Key Highlights
- Two tenant‑occupied duplex units, each with 2 bedrooms and 1 full bath
- Approximately 742 heated square feet per residence
- Month‑to‑month lease agreements currently in place
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
$13,006
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
6.85%
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%
$260,120
$260.1K
Cap Rate 7%
$185,800
$185.8K
Cap Rate 9%
$144,511
$144.5K
Market Conditions
NOI Build-Up for 1,440 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
$19.9K $13.80/SF
− Vacancy
−$1.3K −$0.90/SF
EGI
$18.6K $12.90/SF
− OpEx
−$5.6K −$3.87/SF
NOI
$13.0K $9.03/SF
Area
Rowan County, NC
Vacancy
6.50%
Lease Rate
$13.80 /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%
$260,120
Cap Rate 7%
$185,800
Cap Rate 9%
$144,511
Alternative Uses
Best Use
Multifamily LT 5
$185.8K
$162.6K – $216.8K
NOI $13,006 @ 7.0% cap · market cap 6.85%
Second Best
Apartment 5plus
$167.5K
$146.6K – $195.5K
NOI $11,728 @ 7.0% cap · market cap 6.18%
Theoretical Best
Office A
$453.2K
$396.6K – $528.8K
NOI $31,726 @ 7.0% cap · market cap 16.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
88
Businesses Nearby
Explore this area
Business Placement
Demographics for 28144, NC
26,254
Population
12,655
Households
2.1
Avg Household Size
40
Median Age
27%
College-Educated
89%
High-School Grad
30.1 sq mi
ZIP Area
872
Density / Sq Mi
$51,432
Median Household Income
$29,787
Median Earnings
$982
Median Rent
$205,900
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 - Two leased residences feature private outdoor areas and shared gravel parking.
Where is this duplex located?
The property is located at 1595 N Long Street Salisbury, NC.
What is the asking price?
The asking price for this property is $189,900.
What are key features of this property?
This property features: Two tenant‑occupied duplex units, each with 2 bedrooms and 1 full bath; Approximately 742 heated square feet per residence; Month‑to‑month lease agreements currently in place
