Two-Unit Duplex Income
For Sale
$249,000
173 - 175 Booker Drive SW, Concord, NC 28025
Duplex with two mirrored 1-bedroom, 1-bath units, each featuring a sunroom laundry area and updated HVAC systems.
Property Size1,950 SF
Price / SF$198.56
Days on Market99
Property Features for 173 - 175 Booker Drive SW
General Information
Standard status
Active
Size
1,950 SF
Property subtype
Duplex
Occupancy
100%
Site & Location
Neighborhood
Logn
Additional Details
Multifamily Units
2
Amenities
Public Sewer
Additional parcels description:, Parcel Number: 5620 94 3047 0000, Assessed Value: $192,010
Central Air, Electric
Electric
Laundry Room
Listing ID: CAR4405739, Standard Status: Active, MLS Status: Active, Property Subtype: Duplex, 50 days on market, Special Conditions: None
Driveway
Elementary School: R. McAllister, Middle School: Concord, High School: Concord
Built in 1950, Living area: 1254, Construction Materials: Block
County/Parish: Cabarrus
Water Source: City
Crawl Space
Allowed: Yes
Road Responsibility: Publicly Maintained Road, Road Surface: Gravel, Paved
Electric Range, Refrigerator, Washer/Dryer
Building Details
Building Size
1,950 SF
Year Built
1950
Tenancy
Multi
Listing Agency:
Southern Homes of the Carolinas, Inc
(704) 896-2000
Listed By:
Jenny Dabbs · License #283382
(704) 305-6105
Source:
Blackstreaminternational
Added: Jul 24
Changed: Oct 29
Last Checked: Oct 28 at 8:18AM
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 Southern Homes of the Carolinas, Inc
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Investment Insights
Based on property information with market context.
This duplex includes two mirrored units at 173 and 175 Booker Drive SW, each with a 1-bedroom, 1-bath layout. Every unit has a kitchen, living room, and a laundry area located in a sunroom. The property benefits from new HVAC systems installed in both units, and unit 173 has a brand new refrigerator; all appliances convey.
Both units are currently occupied by long-term tenants who wish to remain, providing immediate rental income. The property is described as being conveniently located near Logan Center and a bus stop.
Showings are limited due to tenant occupancy and will be scheduled through an open house day (TBD the week of July 27, 2026).
Both units are currently occupied by long-term tenants who wish to remain, providing immediate rental income. The property is described as being conveniently located near Logan Center and a bus stop.
Showings are limited due to tenant occupancy and will be scheduled through an open house day (TBD the week of July 27, 2026).
Key Highlights
- Duplex at 173 & 175 Booker Dr SW with two mirrored 1‑bedroom, 1‑bath units
- Each unit includes a laundry area in a sunroom, plus kitchen and living room space
- Both units are currently occupied by long‑term tenants who want to remain
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,339
Cap Rate
5.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$266,780
$266.8K
Cap Rate 7%
$190,557
$190.6K
Cap Rate 9%
$148,211
$148.2K
Market Conditions
NOI Build-Up for 1,254 SF
Gross rent
$20.3K $16.20/SF
− Vacancy
−$1.3K −$1.00/SF
EGI
$19.1K $15.20/SF
− OpEx
−$5.7K −$4.56/SF
NOI
$13.3K $10.64/SF
Area
Concord, NC
Vacancy
6.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$266,780
Cap Rate 7%
$190,557
Cap Rate 9%
$148,211
Alternative Uses
Best Use
Multifamily LT 5
$190.6K
$166.7K – $222.3K
NOI $13,339 @ 7.0% cap · market cap 5.36%
Second Best
Apartment 5plus
$176.0K
$154.0K – $205.3K
NOI $12,318 @ 7.0% cap · market cap 4.95%
Theoretical Best
Specialty Retail
$341.7K
$299.0K – $398.7K
NOI $23,921 @ 7.0% cap · market cap 9.61%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
405
Businesses Nearby
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Business Placement
Demographics for 28025, NC
58,260
Population
23,759
Households
2.5
Avg Household Size
38
Median Age
33%
College-Educated
91%
High-School Grad
108.4 sq mi
ZIP Area
537
Density / Sq Mi
$79,271
Median Household Income
$43,167
Median Earnings
$1,223
Median Rent
$264,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Duplex with two mirrored 1-bedroom, 1-bath units, each featuring a sunroom laundry area and updated HVAC systems.
Where is this duplex located?
The property is located at 173 - 175 Booker Drive SW Concord, NC.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: Duplex at 173 & 175 Booker Dr SW with two mirrored 1‑bedroom, 1‑bath units; Each unit includes a laundry area in a sunroom, plus kitchen and living room space; Both units are currently occupied by long‑term tenants who want to remain
