Building Details

Year Built 1972

Listing Agency: Coldwell Banker Realty

Listed By: Pamela Ward Show Phone

Source: Lewisandkirk

Added: Jul 21 Changed: Oct 6 Last Checked: Oct 7 at 1:31PM

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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 Coldwell Banker Realty

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Investment Insights

Based on property information with market context.

An updated one-owner full-brick ranch home anchors this 1.2-acre multi-use property, featuring a newly renovated kitchen with modern cabinetry, countertops, backsplash, and stainless-steel appliances. The residence also includes updated baths, spacious living areas, a brick-paver sunroom, abundant storage, and an oversized garage.

A detached studio apartment sits on-site with its own 2-car garage, providing flexibility for rental income, guest use, or on-site workspace. The property is grandfathered as residential but is zoned Highway Business, supporting a range of commercial or mixed-use possibilities.

Positioned just 2 miles from Union County, this live-work setup offers two distinct structures for a combined residential and potential commercial strategy.

Key Highlights

• 1.2‑acre multi‑use property with a one‑owner full‑brick ranch home built in 1972
• Newly renovated kitchen with modern cabinetry, countertops, backsplash, and stainless‑steel appliances
• Updated baths plus spacious living areas and a brick‑paver sunroom

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$25,867

Cap Rate

5.88%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$517,340 $517.3K

Cap Rate 7%

$369,529 $369.5K

Cap Rate 9%

$287,411 $287.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,231 SF

Gross rent

$40.2K $18.00/SF

− Vacancy

−$3.2K −$1.44/SF

EGI

$37.0K $16.56/SF

− OpEx

−$11.1K −$4.97/SF

NOI

$25.9K $11.59/SF

Area

Anson 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%

$517,340

Cap Rate 7%

$369,529

Cap Rate 9%

$287,411

Alternative Uses

Best Use

Multifamily LT 5

$369.5K

$323.3K – $431.1K (±1% cap)

NOI $25,867 @ 7.0% cap · market cap 5.88%

Second Best

Apartment 5plus

$337.2K

$295.1K – $393.4K (±1% cap)

NOI $23,604 @ 7.0% cap · market cap 5.36%

Theoretical Best

Office A

$702.2K

$614.4K – $819.2K (±1% cap)

NOI $49,153 @ 7.0% cap · market cap 11.17%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Location Intelligence

Trade Area within ½ mile

42

Businesses Nearby

Explore this area Business Placement

Demographics for 28133, NC

2,550

Population

1,116

Households

2.3

Avg Household Size

45

Median Age

9%

College-Educated

82%

High-School Grad

81.7 sq mi

ZIP Area

31

Density / Sq Mi

$55,675

Median Household Income

$50,263

Median Earnings

$975

Median Rent

$160,500

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Frequently Asked Questions

What type of property is this?

Duplex - Updated brick ranch home plus a detached studio apartment with separate 2-car garage on a 1.2-acre multi-use site.

Where is this duplex located?

The property is located at 164 New York Ave Peachland, NC.

What is the asking price?

The asking price for this property is $440,000.

What are key features of this property?

This property features: 1.2‑acre multi‑use property with a one‑owner full‑brick ranch home built in 1972; Newly renovated kitchen with modern cabinetry, countertops, backsplash, and stainless‑steel appliances; Updated baths plus spacious living areas and a brick‑paver sunroom