Two-Unit Brick
New
For Sale
$199,900
317 W D Avenue, Salisbury, NC 28144
Each residence offers one bedroom and one bathroom with access to shared outdoor space on a private lot.
Property Size1,473 SF
Lot Size0.55 Acres
Price / SF$135.71
Days on Market2
Property Features for 317 W D Avenue
General Information
Standard status
Active
Size
1,473 SF
Lot size
0.55 Acres
Property subtype
Multi-Family
Zoning
R
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Amenities
No
2
1473
Level,Private
City
0.55
Driveway
Gravel,Paved
Crawl Space
Publicly Maintained Road
Building Details
Building Size
1,473 SF
Year Built
1949
Buildings
1
Stories
1
Construction
brick
Listing Agency:
BluAxis Realty
(864) 242-6650
Listed By:
Matthew Thrift
(864) 414-2562
Source:
Cdanjoyner
Added: Sep 18
Last Checked: Sep 19 at 7:29AM
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 BluAxis Realty
Investment Insights
Based on property information with market context.
This duplex contains two residential units, each configured with 1 bedroom and 1 bathroom. The property provides 1,473 square feet of heated living area within a brick exterior, with a crawl-space foundation. Built in 1949, the structure is served by city water and sewer and includes no HOA or restrictive covenants.
The duplex occupies a level, private 0.55-acre lot at 315/317 W D Avenue in Salisbury. Access is provided by a publicly maintained road and a driveway with gravel and paved surfaces. The property is zoned R and includes outdoor space beyond the building footprint.
The duplex occupies a level, private 0.55-acre lot at 315/317 W D Avenue in Salisbury. Access is provided by a publicly maintained road and a driveway with gravel and paved surfaces. The property is zoned R and includes outdoor space beyond the building footprint.
Key Highlights
- Two units, each with 1 bedroom and 1 bathroom
- 1,473 square feet of heated living area
- Built in 1949 with a durable brick exterior
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
$13,304
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
6.66%
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%
$266,080
$266.1K
Cap Rate 7%
$190,057
$190.1K
Cap Rate 9%
$147,822
$147.8K
Market Conditions
NOI Build-Up for 1,473 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
$20.3K $13.80/SF
− Vacancy
−$1.3K −$0.90/SF
EGI
$19.0K $12.90/SF
− OpEx
−$5.7K −$3.87/SF
NOI
$13.3K $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 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%
$266,080
Cap Rate 7%
$190,057
Cap Rate 9%
$147,822
Alternative Uses
Best Use
Multifamily LT 5
$190.1K
$166.3K – $221.7K
NOI $13,304 @ 7.0% cap · market cap 6.66%
Second Best
Apartment 5plus
$171.4K
$150.0K – $200.0K
NOI $11,997 @ 7.0% cap · market cap 6.00%
Theoretical Best
Office A
$463.6K
$405.7K – $540.9K
NOI $32,453 @ 7.0% cap · market cap 16.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
474
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence offers one bedroom and one bathroom with access to shared outdoor space on a private lot.
Where is this duplex located?
The property is located at 317 W D Avenue Salisbury, NC.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Two units, each with 1 bedroom and 1 bathroom; 1,473 square feet of heated living area; Built in 1949 with a durable brick exterior
