Brick Duplex with
New
For Sale
$650,000
2 Adamswood Rd, Asheville, NC 28803
Each residence has two bedrooms, a basement with laundry and storage, and access to a shared rear deck.
Property Size2,397 SF
Price / SF$271.17
Days on Market3
Property Features for 2 Adamswood Rd
General Information
Standard status
Active
Size
2,397 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Additional Details
Tenant in Place
Yes
Amenities
rear deck
basement
laundry
garage parking
storage
Building Details
Year Built
1977
Buildings
1
Construction
brick
Tenancy
Multi
Listed By:
Stewart-Graham Realty
(704) 609-1321
Source:
Stewartgrahamrealty
Added: Oct 28
Last Checked: Oct 30 at 2:11PM
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 Stewart-Graham Realty
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Investment Insights
Based on property information with market context.
This 2,397-square-foot brick duplex was built in 1977 and contains two residences, each with two bedrooms. Both units have a separate basement with laundry facilities, garage parking, and storage, along with an individual section of the rear deck.
The property is in Asheville near South Asheville and the Biltmore Forest area. Shopping and dining are nearby, as are Biltmore Estate and Mission Hospital.
Both residences are currently leased through December 31, 2026. Future owner-occupancy is subject to the existing tenancies.
The property is in Asheville near South Asheville and the Biltmore Forest area. Shopping and dining are nearby, as are Biltmore Estate and Mission Hospital.
Both residences are currently leased through December 31, 2026. Future owner-occupancy is subject to the existing tenancies.
Key Highlights
- Brick duplex with 2,397 square feet; built in 1977
- Two bedrooms in each residence
- Separate basement in each unit with laundry and storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,941
Cap Rate
4.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$538,820
$538.8K
Cap Rate 7%
$384,871
$384.9K
Cap Rate 9%
$299,344
$299.3K
Market Conditions
NOI Build-Up for 2,397 SF
Gross rent
$43.7K $18.24/SF
− Vacancy
−$5.2K −$2.18/SF
EGI
$38.5K $16.06/SF
− OpEx
−$11.5K −$4.82/SF
NOI
$26.9K $11.24/SF
Area
Buncombe County, NC
Vacancy
11.97%
Lease Rate
$18.24 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$538,820
Cap Rate 7%
$384,871
Cap Rate 9%
$299,344
Alternative Uses
Best Use
Multifamily LT 5
$384.9K
$336.8K – $449.0K
NOI $26,941 @ 7.0% cap · market cap 4.14%
Second Best
Apartment 5plus
$333.8K
$292.1K – $389.5K
NOI $23,367 @ 7.0% cap · market cap 3.59%
Theoretical Best
Office A
$758.0K
$663.2K – $884.3K
NOI $53,057 @ 7.0% cap · market cap 8.16%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
521
Businesses Nearby
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Business Placement
Demographics for 28803, NC
34,108
Population
18,322
Households
1.9
Avg Household Size
43
Median Age
50%
College-Educated
93%
High-School Grad
38.4 sq mi
ZIP Area
888
Density / Sq Mi
$70,638
Median Household Income
$41,057
Median Earnings
$1,455
Median Rent
$408,600
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 - Each residence has two bedrooms, a basement with laundry and storage, and access to a shared rear deck.
Where is this duplex located?
The property is located at 2 Adamswood Rd Asheville, NC.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Brick duplex with 2,397 square feet; built in 1977; Two bedrooms in each residence; Separate basement in each unit with laundry and storage
