New-Construction Duplex with Open
For Sale
$529,900
Lot 2 Arden Ave, Kannapolis, NC 28081
Two-unit residential income property with separate utilities and low-maintenance finishes.
Property Size2,543 SF
Price / SF$208.38
Days on Market270
Property Features for Lot 2 Arden Ave
General Information
Standard status
Active
Size
2,543 SF
Property subtype
Residential Income
Listing Agency:
Cedar Realty LLC
(704) 453-2650
Listed By:
Brandon Chase · License #249103
Source:
Exprealty
Added: Dec 4, 2025
Changed: Aug 30
Last Checked: Aug 30 at 12:48PM
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 Cedar Realty LLC
Investment Insights
Based on property information with market context.
This new-construction duplex contains 2,543 square feet and is arranged as two residential units. Each side provides 3 bedrooms and 2.5 baths, with an open interior layout, durable finishes, and low-maintenance materials. Separate utility service supports independent operation of the units.
The property is identified as Lot 2 Arden Ave in Kannapolis, North Carolina. It is part of the Orleans Duplex Plan, and representative photos are provided for the design. Multiple duplexes are currently under construction, with package deals available for investors seeking more than one property.
The property is identified as Lot 2 Arden Ave in Kannapolis, North Carolina. It is part of the Orleans Duplex Plan, and representative photos are provided for the design. Multiple duplexes are currently under construction, with package deals available for investors seeking more than one property.
Key Highlights
- 2,543‑square‑foot new‑construction duplex
- Each unit includes 3 bedrooms and 2.5 baths
- Separate utilities serve the two units independently
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
$29,485
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
5.56%
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%
$589,700
$589.7K
Cap Rate 7%
$421,214
$421.2K
Cap Rate 9%
$327,611
$327.6K
Market Conditions
NOI Build-Up for 2,543 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
$45.8K $18.00/SF
− Vacancy
−$3.7K −$1.44/SF
EGI
$42.1K $16.56/SF
− OpEx
−$12.6K −$4.97/SF
NOI
$29.5K $11.59/SF
Area
Cabarrus 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 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%
$589,700
Cap Rate 7%
$421,214
Cap Rate 9%
$327,611
Alternative Uses
Best Use
Multifamily LT 5
$421.2K
$368.6K – $491.4K
NOI $29,485 @ 7.0% cap · market cap 5.56%
Second Best
Apartment 5plus
$384.3K
$336.3K – $448.4K
NOI $26,904 @ 7.0% cap · market cap 5.08%
Theoretical Best
Office A
$800.4K
$700.3K – $933.8K
NOI $56,027 @ 7.0% cap · market cap 10.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
66
Businesses Nearby
Explore this area
Business Placement
Demographics for 28081, NC
28,583
Population
12,400
Households
2.3
Avg Household Size
38
Median Age
26%
College-Educated
88%
High-School Grad
30.3 sq mi
ZIP Area
943
Density / Sq Mi
$69,167
Median Household Income
$40,167
Median Earnings
$1,080
Median Rent
$257,300
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-unit residential income property with separate utilities and low-maintenance finishes.
Where is this duplex located?
The property is located at Lot 2 Arden Ave Kannapolis, NC.
What is the asking price?
The asking price for this property is $529,900.
What are key features of this property?
This property features: 2,543‑square‑foot new‑construction duplex; Each unit includes 3 bedrooms and 2.5 baths; Separate utilities serve the two units independently
