Three-Unit Townhome
For Sale
$1,068,000
2719 Watson Dr, Charlotte, NC 28208
Modern multifamily property with designer finishes, private outdoor areas, garages, and access to Uptown Charlotte.
Property Size3,978 SF
Price / SF$268.48
Days on Market28
Property Features for 2719 Watson Dr
General Information
Standard status
Active
Size
3,978 SF
Property subtype
Residential Income
Units
Unit Mix
3 x 3BR/2.5BA
Multifamily Units
3
Listing Agency:
Fathom Realty NC LLC
(917) 442-8818
Listed By:
Charlie Moore
(917) 442-8818
Source:
Exprealty
Added: Jul 16
Changed: Aug 12
Last Checked: Aug 12 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 Fathom Realty NC LLC
Investment Insights
Based on property information with market context.
This three-unit multifamily property consists of contemporary townhomes with approximately 3,978 square feet in total. Each residence offers 3 bedrooms, 2.5 baths, an open living arrangement, 9-foot ceilings, quartz countertops, a full quartz backsplash, soft-close cabinetry, and stainless steel appliances. Interior features also include custom accent walls, tile-finished ensuite baths, and walk-in closets.
Each townhome includes a primary suite with a private balcony, a fully fenced backyard enclosed by a 6-foot privacy fence, and a single-car garage with additional storage. The property is located at 2719 Watson Dr in Charlotte, minutes from Uptown Charlotte, Charlotte Douglas International Airport, major interstates, shopping, dining, and entertainment.
Each townhome includes a primary suite with a private balcony, a fully fenced backyard enclosed by a 6-foot privacy fence, and a single-car garage with additional storage. The property is located at 2719 Watson Dr in Charlotte, minutes from Uptown Charlotte, Charlotte Douglas International Airport, major interstates, shopping, dining, and entertainment.
Key Highlights
- Three townhomes totaling 3,978 square feet
- Each unit includes 3 bedrooms and 2.5 baths
- Over 1,300 square feet per unit
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
$48,133
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
4.51%
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%
$962,660
$962.7K
Cap Rate 7%
$687,614
$687.6K
Cap Rate 9%
$534,811
$534.8K
Market Conditions
NOI Build-Up for 3,978 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
$92.6K $23.28/SF
− Vacancy
−$5.1K −$1.28/SF
EGI
$87.5K $22.00/SF
− OpEx
−$39.4K −$9.90/SF
NOI
$48.1K $12.10/SF
Area
Charlotte, NC
Vacancy
5.50%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
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%
$962,660
Cap Rate 7%
$687,614
Cap Rate 9%
$534,811
Alternative Uses
Best Use
Apartment 5plus
$687.6K
$601.7K – $802.2K
NOI $48,133 @ 7.0% cap · market cap 4.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.32M
$1.16M – $1.55M
NOI $92,728 @ 7.0% cap · market cap 8.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
563
Businesses Nearby
Explore this area
Business Placement
Demographics for 28208, NC
38,614
Population
17,842
Households
2.2
Avg Household Size
34
Median Age
26%
College-Educated
81%
High-School Grad
20.2 sq mi
ZIP Area
1,912
Density / Sq Mi
$51,339
Median Household Income
$40,359
Median Earnings
$1,173
Median Rent
$198,300
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?
Multifamily property - Modern multifamily property with designer finishes, private outdoor areas, garages, and access to Uptown Charlotte.
Where is this multifamily property located?
The property is located at 2719 Watson Dr Charlotte, NC.
What is the asking price?
The asking price for this property is $1,068,000.
What are key features of this property?
This property features: Three townhomes totaling 3,978 square feet; Each unit includes 3 bedrooms and 2.5 baths; Over 1,300 square feet per unit
