Brick Duplex with Two
For Sale
Under Contract
$275,000
2706 and 2708 Harwell Street, Claremont, NC 28610
Residential Income, Claremont, NC
Property Size1,650 SF
Lot Size0.36 Acres
Price / SF$166.67
Days on Market259
Property Features for 2706 and 2708 Harwell Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
R-1
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 1
Parking features
Driveway
Pets allowed
Yes
Appliances
Dryer, Electric Cooktop, Refrigerator, Washer
Elementary school
Claremont
Middle school
River Bend
High school
Bunker Hill
Directions
Head south on S Depot St toward Catawba St Turn left onto Yount St Turn left onto Harwell St
Standard status
Active Under Contract
APN
3762183092770000
Lot size
0.36 Acres
Taxes and HOA fees
Tax Description
LOT 3
Legal Description
LOT 3
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1975
Number of units
2
Building materials
Brick Full
Listing Agency:
EXP Realty LLC Mooresville
(336) 398-3824
Listed By:
Jessica Harvey
(704) 562-2246
Added: Jan 7
Changed: Sep 19
Last Checked: Sep 23 at 10:06AM
MLS# 4333434
Copyright © 2026 Canopy MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This brick duplex contains two residential units, each arranged with two bedrooms and one bathroom. The property was built in 1975 and includes central heating, central air conditioning, electric cooktops, refrigerators, washers, and dryers. Each unit is currently vacant and available for showings.
The building occupies a 0.36-acre corner lot at 2706 and 2708 Harwell Street in Claremont, North Carolina. On-site features include a driveway and public sewer service. One side was previously used as a short-term rental, while the other had been occupied under a long-term rental arrangement.
The building occupies a 0.36-acre corner lot at 2706 and 2708 Harwell Street in Claremont, North Carolina. On-site features include a driveway and public sewer service. One side was previously used as a short-term rental, while the other had been occupied under a long-term rental arrangement.
Key Highlights
- Two units, each with 2 bedrooms and 1 bathroom
- Full‑brick duplex constructed in 1975
- 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
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Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two vacant residential units feature two-bedroom, one-bath layouts with central heating and air conditioning.
Where is this duplex located?
The property is located at 2706 and 2708 Harwell Street 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 units, each with 2 bedrooms and 1 bathroom; Full‑brick duplex constructed in 1975; Situated on a 0.36‑acre corner lot
