Renovated Duplex with Two
223 Davidson Road, Swannanoa, NC 28778
For Sale
$344,000
Two-level duplex with updated interiors, shared laundry, private balcony, and multiple storage areas.
Property Size1,349 SF
Price / SF$255
Days on Market57
Property Features for 223 Davidson Road
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Amenities
shared laundry
private balcony
storage
Building Details
Year Built
Buildings
Listing Agency:
Preferred Properties (anna@preferredprop.com)
Listed By:
Anna Peddy
(828) 777-6540
Source:
Preferredprop
Added: Sep 14
Changed: Nov 8
Last Checked: Nov 8 at 6:26AM
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 Preferred Properties (anna@preferredprop.com)
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Investment Insights
Based on property information with market context.
This 2002 duplex contains two separate residential units with shared laundry access. The upper unit is configured as a one-bedroom, one-bath studio with a living area, kitchen, and private balcony. The lower unit is larger and includes a bedroom, sitting area, kitchen with eat-in dining, office nook, and renovated bathroom. Furniture in the upper unit may remain.
Three additional storage areas support the property, including a two-story shed, a smaller backyard shed, and attached lower-level storage. The home is located near Warren Wilson College, scenic trails, and community parks, with downtown Black Mountain and Asheville each approximately 12 minutes away.
Three additional storage areas support the property, including a two-story shed, a smaller backyard shed, and attached lower-level storage. The home is located near Warren Wilson College, scenic trails, and community parks, with downtown Black Mountain and Asheville each approximately 12 minutes away.
Key Highlights
- Two‑unit duplex built in 2002
- Upper unit includes 1 bedroom, 1 bath, kitchen, living area, and private balcony
- Lower unit features a bedroom, sitting area, eat‑in kitchen, office nook, and updated bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,162
Cap Rate
4.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$303,240
$303.2K
Cap Rate 7%
$216,600
$216.6K
Cap Rate 9%
$168,467
$168.5K
Market Conditions
NOI Build-Up for 1,349 SF
Gross rent
$24.6K $18.24/SF
− Vacancy
−$2.9K −$2.18/SF
EGI
$21.7K $16.06/SF
− OpEx
−$6.5K −$4.82/SF
NOI
$15.2K $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%
$303,240
Cap Rate 7%
$216,600
Cap Rate 9%
$168,467
Alternative Uses
Best Use
Multifamily LT 5
$216.6K
$189.5K – $252.7K
NOI $15,162 @ 7.0% cap · market cap 4.41%
Second Best
Apartment 5plus
$187.9K
$164.4K – $219.2K
NOI $13,151 @ 7.0% cap · market cap 3.82%
Theoretical Best
Office A
$426.6K
$373.3K – $497.7K
NOI $29,860 @ 7.0% cap · market cap 8.68%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
67
Businesses Nearby
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Business Placement
Demographics for 28778, NC
10,328
Population
4,865
Households
2.1
Avg Household Size
42
Median Age
32%
College-Educated
86%
High-School Grad
32.5 sq mi
ZIP Area
318
Density / Sq Mi
$72,717
Median Household Income
$36,218
Median Earnings
$1,004
Median Rent
$273,800
Median Home Value
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Market
Properties on Market for Duplexes in Buncombe County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two-level duplex with updated interiors, shared laundry, private balcony, and multiple storage areas.
Where is this duplex located?
The property is located at 223 Davidson Road Swannanoa, NC.
What is the asking price?
The asking price for this property is $344,000.
What are key features of this property?
This property features: Two‑unit duplex built in 2002; Upper unit includes 1 bedroom, 1 bath, kitchen, living area, and private balcony; Lower unit features a bedroom, sitting area, eat‑in kitchen, office nook, and updated bathroom
