Duplex With Separate
26 Elkmont Drive, Asheville, NC 28804
For Sale
$550,000
A two-level configuration provides a distinct entrance for each floor.
Property Size2,369 SF
Price / SF$232.17
Days on Market165
Property Features for 26 Elkmont Drive
General Information
Standard status
Size
Property subtype
Additional Details
Multifamily Units
Building Details
Building Size
Year Built
Buildings
Listing Agency:
NextHome Partners
Listed By:
Zach Penland · License #329299,PersonLicenseNumber
(828) 772-9622
Source:
Elevateasheville
Added: May 29
Changed: Nov 7
Last Checked: Nov 8 at 9:05PM
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 NextHome Partners
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Investment Insights
Based on property information with market context.
This 2,369-square-foot duplex was built in 1964 and is arranged across two levels, with a separate entrance for each floor. The layout accommodates independent occupancy on both levels. Mature trees and a usable yard are part of the property’s outdoor setting.
Beaver Lake is within walking distance. Shopping, dining, and downtown Asheville are also nearby.
Beaver Lake is within walking distance. Shopping, dining, and downtown Asheville are also nearby.
Key Highlights
- 2,369 square feet across two levels
- Separate entrance for each floor
- Built in 1964
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,627
Cap Rate
4.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$532,540
$532.5K
Cap Rate 7%
$380,386
$380.4K
Cap Rate 9%
$295,856
$295.9K
Market Conditions
NOI Build-Up for 2,369 SF
Gross rent
$43.2K $18.24/SF
− Vacancy
−$5.2K −$2.18/SF
EGI
$38.0K $16.06/SF
− OpEx
−$11.4K −$4.82/SF
NOI
$26.6K $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%
$532,540
Cap Rate 7%
$380,386
Cap Rate 9%
$295,856
Alternative Uses
Best Use
Multifamily LT 5
$380.4K
$332.8K – $443.8K
NOI $26,627 @ 7.0% cap · market cap 4.84%
Second Best
Apartment 5plus
$329.9K
$288.7K – $384.9K
NOI $23,094 @ 7.0% cap · market cap 4.20%
Theoretical Best
Office A
$749.1K
$655.5K – $874.0K
NOI $52,438 @ 7.0% cap · market cap 9.53%
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
358
Businesses Nearby
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Business Placement
Demographics for 28804, NC
23,964
Population
11,716
Households
2
Avg Household Size
44
Median Age
60%
College-Educated
93%
High-School Grad
28.7 sq mi
ZIP Area
835
Density / Sq Mi
$79,709
Median Household Income
$37,169
Median Earnings
$1,399
Median Rent
$528,500
Median Home Value
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Market
Properties on Market for Duplexes in Asheville
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - A two-level configuration provides a distinct entrance for each floor.
Where is this duplex located?
The property is located at 26 Elkmont Drive Asheville, NC.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 2,369 square feet across two levels; Separate entrance for each floor; Built in 1964
