Updated Two-Unit
For Sale
$260,000
2191 Maple Valley Pl, Lenoir, NC 28645
Each residence offers two bedrooms, one bath, appliances, laundry equipment, and assigned paved parking.
Property Size1,634 SF
Price / SF$159.12
Days on Market120
Property Features for 2191 Maple Valley Pl
General Information
Standard status
Active
Size
1,634 SF
Property subtype
Residential Income
Listing Agency:
Master Brokers of the Carolinas & Catawba Valley
(828) 850-0142
Listed By:
Debbie Boone · License #171315
(828) 850-0142
Source:
Exprealty
Added: May 4
Changed: Aug 29
Last Checked: Aug 29 at 6:42PM
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 Master Brokers of the Carolinas & Catawba Valley
Investment Insights
Based on property information with market context.
This 1,634-square-foot duplex contains two residences, each with 2 bedrooms and 1 bath. Both units include window treatments, a self-cleaning range, refrigerator with ice maker, microwave hood, and all-in-one washer/dryer. The property also features vinyl siding, gutter guards, and two paved parking spaces assigned to each unit. One side includes a carport with a storage closet.
Updates completed in 2018 included appliances, architectural roof shingles, vinyl siding, replacement windows, entry doors, water heaters, decking, and a handicap ramp. Unit 2 is vacant for showings, while Unit 1 is leased month to month. The owner provides water and trash service; residents pay the remaining utilities. The property is located at 2191 Maple Valley Pl in Lenoir, North Carolina, with convenience to Lenoir, Hudson, and Hickory.
Updates completed in 2018 included appliances, architectural roof shingles, vinyl siding, replacement windows, entry doors, water heaters, decking, and a handicap ramp. Unit 2 is vacant for showings, while Unit 1 is leased month to month. The owner provides water and trash service; residents pay the remaining utilities. The property is located at 2191 Maple Valley Pl in Lenoir, North Carolina, with convenience to Lenoir, Hudson, and Hickory.
Key Highlights
- 1,634 SF duplex with two 2BR/1Bath units
- 2018 updates included roof shingles, windows, siding, doors, water heaters, decking, and appliances
- Each unit has 2 paved & assigned parking spaces
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
$12,235
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
4.71%
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%
$244,700
$244.7K
Cap Rate 7%
$174,786
$174.8K
Cap Rate 9%
$135,944
$135.9K
Market Conditions
NOI Build-Up for 1,634 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
$18.6K $11.40/SF
− Vacancy
−$1.1K −$0.70/SF
EGI
$17.5K $10.70/SF
− OpEx
−$5.2K −$3.21/SF
NOI
$12.2K $7.49/SF
Area
Caldwell County, NC
Vacancy
6.17%
Lease Rate
$11.40 /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%
$244,700
Cap Rate 7%
$174,786
Cap Rate 9%
$135,944
Alternative Uses
Best Use
Multifamily LT 5
$174.8K
$152.9K – $203.9K
NOI $12,235 @ 7.0% cap · market cap 4.71%
Second Best
Apartment 5plus
$161.3K
$141.2K – $188.2K
NOI $11,293 @ 7.0% cap · market cap 4.34%
Theoretical Best
Office A
$372.9K
$326.3K – $435.0K
NOI $26,102 @ 7.0% cap · market cap 10.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
16
Businesses Nearby
Explore this area
Business Placement
Demographics for 28645, NC
46,004
Population
21,558
Households
2.1
Avg Household Size
45
Median Age
17%
College-Educated
82%
High-School Grad
329.1 sq mi
ZIP Area
140
Density / Sq Mi
$50,529
Median Household Income
$34,526
Median Earnings
$726
Median Rent
$157,800
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 - Each residence offers two bedrooms, one bath, appliances, laundry equipment, and assigned paved parking.
Where is this duplex located?
The property is located at 2191 Maple Valley Pl Lenoir, NC.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: 1,634 SF duplex with two 2BR/1Bath units; 2018 updates included roof shingles, windows, siding, doors, water heaters, decking, and appliances; Each unit has 2 paved & assigned parking spaces
