Two-Unit
For Sale
$360,000
2021 Lasalle St, Charlotte, NC 28216
Residential income property with two separately income-generating units.
Property Size1,305 SF
Price / SF$275.86
Days on Market12
Property Features for 2021 Lasalle St
General Information
Standard status
Active
Size
1,305 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1961
Listing Agency:
KJ Realty LLC
(704) 345-8730
Listed By:
George Joseph · License #229722
Source:
Thejaywhiteteam
Added: Aug 20
Changed: Aug 29
Last Checked: Aug 30 at 7:07PM
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 KJ Realty LLC
Investment Insights
Based on property information with market context.
This duplex contains two income-generating residential units within a property constructed in 1961. The asset is located at 2021 Lasalle St in Charlotte, North Carolina, with a 28216 ZIP code. Its existing two-unit configuration supports continued residential income use, subject to applicable requirements and property-specific evaluation.
Key Highlights
- Two income‑generating residential units
- Built in 1961
- Located at 2021 Lasalle St, Charlotte, NC 28216
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
$15,131
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
4.20%
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%
$302,620
$302.6K
Cap Rate 7%
$216,157
$216.2K
Cap Rate 9%
$168,122
$168.1K
Market Conditions
NOI Build-Up for 1,305 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
$23.5K $18.00/SF
− Vacancy
−$1.9K −$1.44/SF
EGI
$21.6K $16.56/SF
− OpEx
−$6.5K −$4.97/SF
NOI
$15.1K $11.59/SF
Area
ZIP 28216
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%
$302,620
Cap Rate 7%
$216,157
Cap Rate 9%
$168,122
Alternative Uses
Best Use
Multifamily LT 5
$216.2K
$189.1K – $252.2K
NOI $15,131 @ 7.0% cap · market cap 4.20%
Second Best
Apartment 5plus
$197.2K
$172.6K – $230.1K
NOI $13,807 @ 7.0% cap · market cap 3.84%
Theoretical Best
Office A
$460.0K
$402.5K – $536.7K
NOI $32,202 @ 7.0% cap · market cap 8.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
378
Businesses Nearby
Explore this area
Business Placement
Demographics for 28216, NC
57,196
Population
24,902
Households
2.3
Avg Household Size
35
Median Age
35%
College-Educated
89%
High-School Grad
30.0 sq mi
ZIP Area
1,907
Density / Sq Mi
$64,977
Median Household Income
$43,643
Median Earnings
$1,464
Median Rent
$246,100
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 - Residential income property with two separately income-generating units.
Where is this duplex located?
The property is located at 2021 Lasalle St Charlotte, NC.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: Two income‑generating residential units; Built in 1961; Located at 2021 Lasalle St, Charlotte, NC 28216
