Duplex With Separate
New
For Sale
$329,000
301 Upton St, Winston Salem, NC 27103
Zoned PB, the property contains two independently accessed residential units.
Property Size2,260 SF
Price / SF$145.58
Days on Market3
Property Features for 301 Upton St
General Information
Standard status
Active
Size
2,260 SF
Property subtype
Residential Income
Zoning
PB
Units
Unit Mix
1 x 3BD/1.5BA, 1 x 1BD/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,734
Building Details
Buildings
1
Listing Agency:
Mossy Oak Properties Land and Farm Realty
(252) 480-5263
Listed By:
Lucas Dargis
Source:
Exprealty
Added: Oct 29
Changed: Oct 30
Last Checked: Oct 30 at 3:24PM
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 Mossy Oak Properties Land and Farm Realty
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Investment Insights
Based on property information with market context.
At 301 Upton St, this two-unit property in Winston-Salem totals 2,260 square feet. The main residence offers 1,580 square feet with three bedrooms and 1.5 bathrooms; the lower-level unit has 680 square feet, one bedroom, and one bathroom. Each unit has its own entrance, and the property has operated as a duplex for five years. PB (Pedestrian Business) zoning applies. Recent work includes a roof replacement, two HVAC systems, a dedicated dehumidifier for the lower level, basement waterproofing, and interior updates with new flooring, paint, and repairs.
Hanestown Park is one block away, and Walmart is three blocks away. Novant Health Forsyth is 1 mile from the property; Atrium Health Wake Forest Baptist is 2 miles away. The Thruway is 1.3 miles away, Hanes Mall is 1.5 miles away, and Downtown is 3 miles away.
Hanestown Park is one block away, and Walmart is three blocks away. Novant Health Forsyth is 1 mile from the property; Atrium Health Wake Forest Baptist is 2 miles away. The Thruway is 1.3 miles away, Hanes Mall is 1.5 miles away, and Downtown is 3 miles away.
Key Highlights
- 2,260 square feet across two units: a 1,580‑square‑foot 3‑bedroom, 1.5‑bath main unit and a 680‑square‑foot 1‑bedroom, 1‑bath lower unit
- PB (Pedestrian Business) zoning
- Separate entrances; operated as a duplex for 5 years
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,363
Cap Rate
7.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$467,260
$467.3K
Cap Rate 7%
$333,757
$333.8K
Cap Rate 9%
$259,589
$259.6K
Market Conditions
NOI Build-Up for 2,260 SF
Gross rent
$36.6K $16.20/SF
− Vacancy
−$3.2K −$1.43/SF
EGI
$33.4K $14.77/SF
− OpEx
−$10.0K −$4.43/SF
NOI
$23.4K $10.34/SF
Area
Forsyth County, NC
Vacancy
8.84%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$467,260
Cap Rate 7%
$333,757
Cap Rate 9%
$259,589
Alternative Uses
Best Use
Multifamily LT 5
$333.8K
$292.0K – $389.4K
NOI $23,363 @ 7.0% cap · market cap 7.10%
Second Best
Apartment 5plus
$307.3K
$268.9K – $358.5K
NOI $21,511 @ 7.0% cap · market cap 6.54%
Theoretical Best
Specialty Retail
$583.8K
$510.9K – $681.2K
NOI $40,869 @ 7.0% cap · market cap 12.42%
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
2,266
Businesses Nearby
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Business Placement
Demographics for 27103, NC
36,023
Population
17,884
Households
2
Avg Household Size
39
Median Age
41%
College-Educated
92%
High-School Grad
18.6 sq mi
ZIP Area
1,937
Density / Sq Mi
$66,582
Median Household Income
$40,498
Median Earnings
$1,113
Median Rent
$220,600
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 - Zoned PB, the property contains two independently accessed residential units.
Where is this duplex located?
The property is located at 301 Upton St Winston Salem, NC.
What is the asking price?
The asking price for this property is $329,000.
What are key features of this property?
This property features: 2,260 square feet across two units: a 1,580‑square‑foot 3‑bedroom, 1.5‑bath main unit and a 680‑square‑foot 1‑bedroom, 1‑bath lower unit; PB (Pedestrian Business) zoning; Separate entrances; operated as a duplex for 5 years
