Brick Duplex with Two
For Sale
$275,000
2706 And 2708 Harwell St, Claremont, NC 28610
Two residential units provide flexible occupancy options on a corner parcel in Claremont.
Property Size1,650 SF
Lot Size0.36 Acres
Price / SF$166.67
Days on Market28
Property Features for 2706 And 2708 Harwell St
General Information
Standard status
Active
Size
1,650 SF
Lot size
0.36 Acres
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1975
Construction
brick
Listing Agency:
EXP Realty LLC Mooresville
(704) 705-7036
Listed By:
Jessica Harvey
Source:
Lewisandkirk
Added: Aug 3
Changed: Aug 28
Last Checked: Aug 29 at 12:06PM
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 EXP Realty LLC Mooresville
Investment Insights
Based on property information with market context.
This 1975 brick duplex contains 1,650 square feet arranged as two separate 2-bedroom, 1-bath residences. The property occupies a 0.36-acre corner lot at 2706 and 2708 Harwell St in Claremont, North Carolina.
The units have supported different rental arrangements: one side was previously used for short-term lodging, while the other had a long-term tenant. Both residences are currently vacant and available for showings.
The units have supported different rental arrangements: one side was previously used for short-term lodging, while the other had a long-term tenant. Both residences are currently vacant and available for showings.
Key Highlights
- Two‑unit duplex with 2‑bedroom, 1‑bath layouts on each side
- 1,650 square feet of total building area
- Situated on a 0.36‑acre corner lot
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
$14,903
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
5.42%
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%
$298,060
$298.1K
Cap Rate 7%
$212,900
$212.9K
Cap Rate 9%
$165,589
$165.6K
Market Conditions
NOI Build-Up for 1,650 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
$22.8K $13.80/SF
− Vacancy
−$1.5K −$0.90/SF
EGI
$21.3K $12.90/SF
− OpEx
−$6.4K −$3.87/SF
NOI
$14.9K $9.03/SF
Area
Catawba County, NC
Vacancy
6.50%
Lease Rate
$13.80 /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%
$298,060
Cap Rate 7%
$212,900
Cap Rate 9%
$165,589
Alternative Uses
Best Use
Multifamily LT 5
$212.9K
$186.3K – $248.4K
NOI $14,903 @ 7.0% cap · market cap 5.42%
Second Best
Apartment 5plus
$197.8K
$173.1K – $230.8K
NOI $13,849 @ 7.0% cap · market cap 5.04%
Theoretical Best
Office A
$482.0K
$421.7K – $562.3K
NOI $33,739 @ 7.0% cap · market cap 12.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
134
Businesses Nearby
Explore this area
Business Placement
Demographics for 28610, NC
10,100
Population
5,050
Households
2
Avg Household Size
42
Median Age
16%
College-Educated
81%
High-School Grad
39.9 sq mi
ZIP Area
253
Density / Sq Mi
$62,309
Median Household Income
$40,741
Median Earnings
$867
Median Rent
$159,400
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 - Two residential units provide flexible occupancy options on a corner parcel in Claremont.
Where is this duplex located?
The property is located at 2706 And 2708 Harwell St Claremont, NC.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Two‑unit duplex with 2‑bedroom, 1‑bath layouts on each side; 1,650 square feet of total building area; Situated on a 0.36‑acre corner lot
