Duplex with Storage
New
For Sale
$349,900
280 Arrowood Road, Salisbury, NC 28144
Two separate living units each include a kitchen, living room, and laundry, with additional storage garage space.
Property Size1,972 SF
Price / SF$202.96
Days on Market7
Property Features for 280 Arrowood Road
General Information
Standard status
Active
Size
1,972 SF
Property subtype
Duplex
Units
Unit Mix
3BR/2BA, 1BR/1BA
Multifamily Units
2
Amenities
Open Lot
Architectural Shingle
Septic Installed
Additional parcels description:, Parcel Number: 307B116, Assessed Value: $167,716
Tile, Vinyl
Ceiling Fan(s), Central Air, Ductless, Electric, Heat Pump, Window Unit(s)
Central, Ductless, Forced Air, Heat Pump
In Carport, In Unit, Utility Room, Inside, Multiple Locations, Washer Hookup
Listing ID: CAR4437973, Standard Status: Active, MLS Status: Active, Property Subtype: Duplex, 1 day on market, Special Conditions: None
2 carport spaces, Attached Carport, Driveway
Elementary School: Unspecified, Middle School: Unspecified, High School: Unspecified
Apartment, Daylight, Finished, Full, Walk-Out Access
4 total bedrooms
Built in 1972, Living area: 1724, Construction Materials: Brick Partial, Vinyl
County/Parish: Rowan
Other structures: Outbuilding, Workshop
3 full bathrooms
Water Source: Shared Well
Basement
Allowed: Yes
Road Responsibility: Publicly Maintained Road, Road Surface: Gravel, Paved
Storage
Dishwasher, Electric Cooktop, Electric Oven, Electric Water Heater, Refrigerator
Building Details
Building Size
1,972 SF
Year Built
1972
Listing Agency:
Call It Closed International Inc
(704) 787-1667
Listed By:
Myles Gooch · License #318300
(704) 706-5505
Source:
Blackstreaminternational
Added: Oct 27
Changed: Nov 1
Last Checked: Nov 1 at 5:12AM
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 Call It Closed International Inc
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Investment Insights
Based on property information with market context.
Built in 1972, this Salisbury duplex contains 1,724 square feet and is arranged as two independent living units. The main-level unit has 3 bedrooms and 2 full bathrooms, plus its own kitchen, living room, and laundry. A basement apartment provides 1 bedroom and 1 full bathroom, with separate kitchen, living, and laundry areas.
A 1,185-square-foot storage garage accompanies the residential space. The property has no HOA.
A 1,185-square-foot storage garage accompanies the residential space. The property has no HOA.
Key Highlights
- Two independent units: a 3‑bedroom, 2‑bath main‑level residence and a 1‑bedroom, 1‑bath basement apartment
- Both units have their own kitchen, living room, and laundry
- 1,185 sq ft storage garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,571
Cap Rate
4.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$311,420
$311.4K
Cap Rate 7%
$222,443
$222.4K
Cap Rate 9%
$173,011
$173.0K
Market Conditions
NOI Build-Up for 1,724 SF
Gross rent
$23.8K $13.80/SF
− Vacancy
−$1.5K −$0.90/SF
EGI
$22.2K $12.90/SF
− OpEx
−$6.7K −$3.87/SF
NOI
$15.6K $9.03/SF
Area
Rowan 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 Rate 5%
$311,420
Cap Rate 7%
$222,443
Cap Rate 9%
$173,011
Alternative Uses
Best Use
Multifamily LT 5
$222.4K
$194.6K – $259.5K
NOI $15,571 @ 7.0% cap · market cap 4.45%
Second Best
Apartment 5plus
$200.6K
$175.5K – $234.0K
NOI $14,041 @ 7.0% cap · market cap 4.01%
Theoretical Best
Office A
$542.6K
$474.8K – $633.1K
NOI $37,983 @ 7.0% cap · market cap 10.86%
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
11
Businesses Nearby
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Business Placement
Demographics for 28144, NC
26,254
Population
12,655
Households
2.1
Avg Household Size
40
Median Age
27%
College-Educated
89%
High-School Grad
30.1 sq mi
ZIP Area
872
Density / Sq Mi
$51,432
Median Household Income
$29,787
Median Earnings
$982
Median Rent
$205,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate living units each include a kitchen, living room, and laundry, with additional storage garage space.
Where is this duplex located?
The property is located at 280 Arrowood Road Salisbury, NC.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Two independent units: a 3‑bedroom, 2‑bath main‑level residence and a 1‑bedroom, 1‑bath basement apartment; Both units have their own kitchen, living room, and laundry; 1,185 sq ft storage garage
