Duplex with Covered Front
New
For Sale
$350,000
243 8th Avenue, Cramerton, NC 28032
Well-maintained duplex with two tenant-occupied units, covered front porch, rear decks, and ample parking with a two-car carport.
Days on Market5
Property Features for 243 8th Avenue
General Information
Standard status
Active
Property subtype
Residential Income
Additional Details
Highway Access
Yes
Amenities
covered front porch
rear decks
Building Details
Building Size
1,822 SF
Year Built
1900
Buildings
1
Tenancy
Multi
Listing Agency:
Tammy Parker Realty LLC
(704) 678-0004
Listed By:
Tammy Parker
Source:
Techrealtyllc
Added: Jul 27
Changed: Jul 30
Last Checked: Jul 30 at 7:44PM
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 Tammy Parker Realty LLC
Investment Insights
Based on property information with market context.
Well-maintained duplex with two separate units, consisting of one 2-bedroom/1-bath unit and one 1-bedroom/1-bath unit. The property includes a covered front porch, rear decks, ample parking, and a two-car carport. All appliances convey with the sale.
Both units are currently occupied by long-term tenants on month-to-month leases. This arrangement may provide immediate rental income for the new owner. Please allow a minimum of 24 hours’ notice for all showings.
Built in 1900, the home is located at 243 8th Avenue in Cramerton, NC, with convenient access to shopping, dining, parks, the Cramerton Community Center, and major highways.
Both units are currently occupied by long-term tenants on month-to-month leases. This arrangement may provide immediate rental income for the new owner. Please allow a minimum of 24 hours’ notice for all showings.
Built in 1900, the home is located at 243 8th Avenue in Cramerton, NC, with convenient access to shopping, dining, parks, the Cramerton Community Center, and major highways.
Key Highlights
- Two units: one 2‑bedroom/1‑bath and one 1‑bedroom/1‑bath
- Covered front porch plus rear decks
- Ample parking and a two‑car carport
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $32.8k | $18.00 |
| − Vacancy | −$2.6k | −$1.44 |
| EGI | $30.2k | $16.56 |
| − OpEx | −$9.1k | −$4.97 |
| NOI | $21.1k | $11.59 |
1,822 SF · lease $18.00/SF/yr · vacancy 7.98% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$301.8K
$264.1K – $352.1K
NOI $21,125 @ 7.0% cap · market cap 6.04%
Second Best
Apartment 5plus
$275.4K
$241.0K – $321.3K
NOI $19,276 @ 7.0% cap · market cap 5.51%
Theoretical Best
Office A
$573.5K
$501.8K – $669.0K
NOI $40,142 @ 7.0% cap · market cap 11.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
164
Businesses Nearby
Explore this area
Business Placement
Demographics for 28032, NC
3,279
Population
1,664
Households
2
Avg Household Size
43
Median Age
43%
College-Educated
95%
High-School Grad
2.1 sq mi
ZIP Area
1,561
Density / Sq Mi
$74,085
Median Household Income
$65,625
Median Earnings
$1,016
Median Rent
$273,900
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 - Well-maintained duplex with two tenant-occupied units, covered front porch, rear decks, and ample parking with a two-car carport.
Where is this duplex located?
The property is located at 243 8th Avenue Cramerton, NC.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two units: one 2‑bedroom/1‑bath and one 1‑bedroom/1‑bath; Covered front porch plus rear decks; Ample parking and a two‑car carport
