Duplex with Flexible
For Sale
$429,900
305 Keswick Avenue, Charlotte, NC 28206
Two-unit property with one vacant residence and a month-to-month tenant in the other.
Property Size1,951 SF
Price / SF$253.18
Days on Market39
Property Features for 305 Keswick Avenue
General Information
Standard status
Active
Size
1,951 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Amenities
Public Sewer
Additional parcels description:, Parcel Number: 079-104-10, Assessed Value: $402,900
Central Air
Central
Inside
Listing ID: CAR4419172, Standard Status: Active, MLS Status: Active, Property Subtype: Duplex, 4 days on market, Special Conditions: None
Driveway, On Street
Elementary School: Highland Renaissance, Middle School: Martin Luther King Jr, High School: Garinger
4 total bedrooms
Built in 1951, Living area: 1698, Construction Materials: Brick Full
Subdivision: Lockewood, County/Parish: Mecklenburg
2 full bathrooms
Water Source: City
Crawl Space
Allowed: Yes
All Utilities
Road Responsibility: Publicly Maintained Road, Road Surface: Gravel, Paved
Electric Oven, Oven, Refrigerator, Washer/Dryer
Building Details
Building Size
1,951 SF
Year Built
1951
Listing Agency:
Keller Williams Lake Norman
(704) 892-5518
Listed By:
Matt Sarver
(704) 445-9977
Source:
Blackstreaminternational
Added: Aug 28
Changed: Oct 4
Last Checked: Oct 4 at 9:50AM
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 Keller Williams Lake Norman
Investment Insights
Based on property information with market context.
This 1,698-square-foot duplex at 305 Keswick Avenue includes two residential units, offering a combination of immediate occupancy flexibility and existing tenancy. The front unit is vacant, while the rear unit is leased month to month. Built in 1951, the property is configured for residential income use and may suit an owner seeking separate living and rental spaces or an investor evaluating a two-unit asset.
The property is located in Charlotte with access to Uptown Charlotte and Camp North End. Shopping, dining, entertainment, major commuter routes, and active redevelopment areas are identified in the surrounding context. The 305 and 307 Keswick Avenue configuration provides a straightforward duplex layout in an established Charlotte setting.
The property is located in Charlotte with access to Uptown Charlotte and Camp North End. Shopping, dining, entertainment, major commuter routes, and active redevelopment areas are identified in the surrounding context. The 305 and 307 Keswick Avenue configuration provides a straightforward duplex layout in an established Charlotte setting.
Key Highlights
- 1,698‑square‑foot duplex configured as two residential units
- Front unit is vacant for potential owner occupancy or new tenancy
- Rear unit is tenant‑occupied on a month‑to‑month lease
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
$22,310
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
5.19%
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%
$446,200
$446.2K
Cap Rate 7%
$318,714
$318.7K
Cap Rate 9%
$247,889
$247.9K
Market Conditions
NOI Build-Up for 1,698 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
$33.6K $19.80/SF
− Vacancy
−$1.7K −$1.03/SF
EGI
$31.9K $18.77/SF
− OpEx
−$9.6K −$5.63/SF
NOI
$22.3K $13.14/SF
Area
Charlotte, NC
Vacancy
5.20%
Lease Rate
$19.80 /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%
$446,200
Cap Rate 7%
$318,714
Cap Rate 9%
$247,889
Alternative Uses
Best Use
Multifamily LT 5
$318.7K
$278.9K – $371.8K
NOI $22,310 @ 7.0% cap · market cap 5.19%
Second Best
Apartment 5plus
$293.5K
$256.8K – $342.4K
NOI $20,545 @ 7.0% cap · market cap 4.78%
Theoretical Best
Office A
$565.4K
$494.8K – $659.7K
NOI $39,581 @ 7.0% cap · market cap 9.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
811
Businesses Nearby
Explore this area
Business Placement
Demographics for 28206, NC
14,053
Population
7,094
Households
2
Avg Household Size
33
Median Age
32%
College-Educated
83%
High-School Grad
7.0 sq mi
ZIP Area
2,008
Density / Sq Mi
$51,456
Median Household Income
$42,186
Median Earnings
$1,225
Median Rent
$239,700
Median Home Value
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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-unit property with one vacant residence and a month-to-month tenant in the other.
Where is this duplex located?
The property is located at 305 Keswick Avenue Charlotte, NC.
What is the asking price?
The asking price for this property is $429,900.
What are key features of this property?
This property features: 1,698‑square‑foot duplex configured as two residential units; Front unit is vacant for potential owner occupancy or new tenancy; Rear unit is tenant‑occupied on a month‑to‑month lease
