New Construction
New
For Sale
$580,000
310 Melrose Dr SW, Concord, NC 28025
Two separately configured residences share a lot with access to Marvin Caldwell Park.
Property Size2,840 SF
Lot Size0.28 Acres
Price / SF$204.23
Days on Market2
Property Features for 310 Melrose Dr SW
General Information
Standard status
Active
Size
2,840 SF
Lot size
0.28 Acres
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2.5BA
Multifamily Units
2
Building Details
Year Built
2026
Listed By:
Leigh Brown
(704) 705-7036
Source:
Onecommunity
Added: Sep 30
Last Checked: Sep 30 at 3:47PM
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 Leigh Brown
Investment Insights
Based on property information with market context.
Completed in 2026, this duplex contains two residences, each with 1,420 sq ft, three bedrooms, and 2.5 baths. Both sides have an open living area, kitchen, primary suite, half bath, and two upstairs bedrooms. Walk-in closets and additional storage are included in each residence, along with flexible upstairs nook space.
The property occupies a 0.28-acre lot in Concord, with direct access to Marvin Caldwell Park. Downtown Concord is approximately five minutes away, and Charlotte is about 20 minutes away.
The property occupies a 0.28-acre lot in Concord, with direct access to Marvin Caldwell Park. Downtown Concord is approximately five minutes away, and Charlotte is about 20 minutes away.
Key Highlights
- Two residences, each measuring 1,420 sq ft
- Each side includes 3 bedrooms and 2.5 baths
- Built in 2026
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
$30,209
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
5.21%
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%
$604,180
$604.2K
Cap Rate 7%
$431,557
$431.6K
Cap Rate 9%
$335,656
$335.7K
Market Conditions
NOI Build-Up for 2,840 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
$46.0K $16.20/SF
− Vacancy
−$2.9K −$1.00/SF
EGI
$43.2K $15.20/SF
− OpEx
−$12.9K −$4.56/SF
NOI
$30.2K $10.64/SF
Area
Concord, NC
Vacancy
6.20%
Lease Rate
$16.20 /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%
$604,180
Cap Rate 7%
$431,557
Cap Rate 9%
$335,656
Alternative Uses
Best Use
Multifamily LT 5
$431.6K
$377.6K – $503.5K
NOI $30,209 @ 7.0% cap · market cap 5.21%
Second Best
Apartment 5plus
$398.5K
$348.7K – $465.0K
NOI $27,898 @ 7.0% cap · market cap 4.81%
Theoretical Best
Specialty Retail
$773.9K
$677.2K – $902.9K
NOI $54,174 @ 7.0% cap · market cap 9.34%
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
150
Businesses Nearby
Explore this area
Business Placement
Demographics for 28025, NC
58,260
Population
23,759
Households
2.5
Avg Household Size
38
Median Age
33%
College-Educated
91%
High-School Grad
108.4 sq mi
ZIP Area
537
Density / Sq Mi
$79,271
Median Household Income
$43,167
Median Earnings
$1,223
Median Rent
$264,100
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 separately configured residences share a lot with access to Marvin Caldwell Park.
Where is this duplex located?
The property is located at 310 Melrose Dr SW Concord, NC.
What is the asking price?
The asking price for this property is $580,000.
What are key features of this property?
This property features: Two residences, each measuring 1,420 sq ft; Each side includes 3 bedrooms and 2.5 baths; Built in 2026
