Tenant-Occupied Duplex with Front
For Sale
$300,000
218 Odell Drive NW, Concord, NC 28025
Two occupied units offer distinct one- and two-bedroom layouts with open living, kitchen, and dining areas.
Property Size1,930 SF
Price / SF$210.97
Days on Market53
Property Features for 218 Odell Drive NW
General Information
Standard status
Active
Size
1,930 SF
Property subtype
Duplex
Occupancy
100%
Units
Unit Mix
1 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
Architectural Shingle
Public Sewer
Additional parcels description:, Parcel Number: 5620-58-1615-0000, Assessed Value: $258,100, Zoning: RC
Laminate, Vinyl
Electric, Heat Pump, Window Unit(s)
Baseboard, Heat Pump
In Unit, Utility Room
Listing ID: CAR4413079, Standard Status: Active, MLS Status: Active, Property Subtype: Duplex, 25 days on market, Special Conditions: Subject to Lease
3 open parking spaces, Parking Lot
Elementary School: Unspecified, Middle School: Unspecified, High School: Unspecified
3 total bedrooms
Built in 1930, Living area: 1422, Construction Materials: Vinyl
County/Parish: Cabarrus
2 full bathrooms
Water Source: City
Crawl Space
Exterior Maintenance
Allowed: Conditional
All Utilities
Road Responsibility: Publicly Maintained Road, Road Surface: Gravel, Paved
Open Floorplan
Dishwasher, Electric Range, Microwave, Refrigerator
Building Details
Building Size
1,930 SF
Year Built
1930
Buildings
1
Construction
bungalow-style
Listing Agency:
Prism Properties & Development Inc
Listed By:
Michael Calabrese
(704) 628-7096
Source:
Blackstreaminternational
Added: Aug 10
Changed: Sep 30
Last Checked: Sep 30 at 1:16PM
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 Prism Properties & Development Inc
Investment Insights
Based on property information with market context.
Built in 1930, this bungalow-style duplex contains 1,422 square feet across two separately rented units. The floor plans include one one-bedroom, one-bath unit and one two-bedroom unit with a shared hall bathroom. Each side has a front porch, an open arrangement linking the family room, kitchen, and dining area, laminate wood flooring, generous cabinet storage, and laundry access near the bedroom. One unit also has new LVP flooring.
The property is near downtown Concord, with shopping, dining, and major roadways nearby. Interstate 85 is accessible from the property, and both units are currently occupied by tenants. Showings are available by appointment and require advance coordination.
The property is near downtown Concord, with shopping, dining, and major roadways nearby. Interstate 85 is accessible from the property, and both units are currently occupied by tenants. Showings are available by appointment and require advance coordination.
Key Highlights
- 1,422‑square‑foot duplex built in 1930
- Both units are currently tenant occupied
- Unit mix includes one 1‑bedroom/1‑bath unit and one 2‑bedroom unit with a shared hall bathroom
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
$15,126
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
5.04%
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%
$302,520
$302.5K
Cap Rate 7%
$216,086
$216.1K
Cap Rate 9%
$168,067
$168.1K
Market Conditions
NOI Build-Up for 1,422 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
$23.0K $16.20/SF
− Vacancy
−$1.4K −$1.00/SF
EGI
$21.6K $15.20/SF
− OpEx
−$6.5K −$4.56/SF
NOI
$15.1K $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 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%
$302,520
Cap Rate 7%
$216,086
Cap Rate 9%
$168,067
Alternative Uses
Best Use
Multifamily LT 5
$216.1K
$189.1K – $252.1K
NOI $15,126 @ 7.0% cap · market cap 5.04%
Second Best
Apartment 5plus
$199.6K
$174.6K – $232.8K
NOI $13,969 @ 7.0% cap · market cap 4.66%
Theoretical Best
Specialty Retail
$387.5K
$339.1K – $452.1K
NOI $27,125 @ 7.0% cap · market cap 9.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
780
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two occupied units offer distinct one- and two-bedroom layouts with open living, kitchen, and dining areas.
Where is this duplex located?
The property is located at 218 Odell Drive NW Concord, NC.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: 1,422‑square‑foot duplex built in 1930; Both units are currently tenant occupied; Unit mix includes one 1‑bedroom/1‑bath unit and one 2‑bedroom unit with a shared hall bathroom
