Two-Unit Brick
New
For Sale
$500,000
2547/2549 Pinckney Avenue, Charlotte, NC 28205
One residence is leased and the other is vacant, combining an existing tenancy with flexibility for the unoccupied unit.
Property Size1,941 SF
Price / SF$320.51
Days on Market7
Property Features for 2547/2549 Pinckney Avenue
General Information
Standard status
Active
Size
1,941 SF
Property subtype
Duplex
Amenities
Wooded
Public Sewer
Additional parcels description:, Parcel Number: 083-064-15, Assessed Value: $481,800
Tile, Vinyl, Wood
Other - See Remarks
Laundry Closet
Listing ID: CAR4429702, Standard Status: Active, MLS Status: Active, Property Subtype: Duplex, 1 day on market, Special Conditions: Subject to Lease, None
Driveway
Elementary School: Villa Heights, Middle School: Eastway, High School: Garinger
2 total bedrooms
Built in 1941, Living area: 1560, Construction Materials: Brick Full
Subdivision: Villa Heights, County/Parish: Mecklenburg
2 full bathrooms
Water Source: City
Crawl Space
Allowed: Yes
Road Responsibility: Publicly Maintained Road, Road Surface: Dirt, Paved
Patio/Porch Features: Rear Porch, Screened
Electric Range, Microwave, Refrigerator
Building Details
Building Size
1,941 SF
Year Built
1941
Listing Agency:
Keller Williams Ballantyne Area
(704) 887-6600
Listed By:
Thomas Elrod
(864) 920-0303
Source:
Blackstreaminternational
Added: Sep 30
Changed: Oct 6
Last Checked: Oct 6 at 2:26AM
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 Keller Williams Ballantyne Area
Investment Insights
Based on property information with market context.
Built in 1941, this brick duplex contains two units of approximately 780 square feet each. Both have two bedrooms, one full bath, a living room, and kitchen and dining areas. Original hardwood floors and architectural details remain, and two screened rear porches add 236 square feet of space overlooking a tree-lined backyard. One unit is leased; the other is vacant. The property sits on a 0.20-acre lot with city water and sewer, no HOA, and N1-C zoning.
Located on Pinckney Avenue in Charlotte, the property is just northeast of Uptown and approximately half a mile from NoDa. The surrounding area includes established bungalows and Craftsman cottages alongside newer construction, with shops, restaurants, and breweries nearby.
Located on Pinckney Avenue in Charlotte, the property is just northeast of Uptown and approximately half a mile from NoDa. The surrounding area includes established bungalows and Craftsman cottages alongside newer construction, with shops, restaurants, and breweries nearby.
Key Highlights
- Two units of approximately 780 square feet each, with 2 bedrooms and 1 full bath per unit
- One unit leased; the other is vacant
- Two screened rear porches provide 236 sq ft of additional space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,497
Cap Rate
4.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$409,940
$409.9K
Cap Rate 7%
$292,814
$292.8K
Cap Rate 9%
$227,744
$227.7K
Market Conditions
NOI Build-Up for 1,560 SF
Gross rent
$30.9K $19.80/SF
− Vacancy
−$1.6K −$1.03/SF
EGI
$29.3K $18.77/SF
− OpEx
−$8.8K −$5.63/SF
NOI
$20.5K $13.14/SF
Area
Charlotte, NC
Vacancy
5.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$409,940
Cap Rate 7%
$292,814
Cap Rate 9%
$227,744
Alternative Uses
Best Use
Multifamily LT 5
$292.8K
$256.2K – $341.6K
NOI $20,497 @ 7.0% cap · market cap 4.10%
Second Best
Apartment 5plus
$269.7K
$236.0K – $314.6K
NOI $18,876 @ 7.0% cap · market cap 3.78%
Theoretical Best
Office A
$519.5K
$454.6K – $606.1K
NOI $36,364 @ 7.0% cap · market cap 7.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,033
Businesses Nearby
Explore this area
Business Placement
Demographics for 28205, NC
49,600
Population
24,605
Households
2
Avg Household Size
34
Median Age
46%
College-Educated
86%
High-School Grad
11.8 sq mi
ZIP Area
4,203
Density / Sq Mi
$72,479
Median Household Income
$49,340
Median Earnings
$1,376
Median Rent
$410,800
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 - One residence is leased and the other is vacant, combining an existing tenancy with flexibility for the unoccupied unit.
Where is this duplex located?
The property is located at 2547/2549 Pinckney Avenue Charlotte, NC.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Two units of approximately 780 square feet each, with 2 bedrooms and 1 full bath per unit; One unit leased; the other is vacant; Two screened rear porches provide 236 sq ft of additional space
