Duplex with Detached
For Sale
$269,000
3181 & 3177 Morganton Boulevard SW, Lenoir, NC 28645
Two separate living areas include updated interiors, garage access, and a rear deck.
Property Size1,953 SF
Price / SF$154.60
Days on Market56
Property Features for 3181 & 3177 Morganton Boulevard SW
General Information
Standard status
Active
Size
1,953 SF
Property subtype
Duplex
Amenities
Cleared, Level
Septic Installed
Additional parcels description:, Parcel Number: 06248-1-4, Assessed Value: $264,900
Carpet, Vinyl, Wood
2 spaces
Central Air
Electric, Heat Pump
Electric Dryer Hookup, Mud Room, Washer Hookup
Listing ID: CAR4417187, Standard Status: Active, MLS Status: Active, Property Subtype: Duplex, 33 days on market, Special Conditions: None
Driveway, Detached Garage
Elementary School: Gamewell, Middle School: Gamewell, High School: West Caldwell
Partial, Unfinished
5 total bedrooms
Built in 1953, Living area: 1740, Construction Materials: Aluminum, Block, Hardboard Siding
County/Parish: Caldwell
2 full bathrooms
Water Source: City
Living Room, Wood Burning Stove
Crawl Space, Slab
Allowed: No
Road Responsibility: Publicly Maintained Road, Road Surface: Dirt, Gravel
Patio/Porch Features: Deck, Front Porch
Dishwasher, Electric Range, Refrigerator
Building Details
Building Size
1,953 SF
Year Built
1953
Listing Agency:
NC Homes Direct
(828) 572-7238
Listed By:
Tonya Collier · License #201361
(828) 962-2021
Source:
Blackstreaminternational
Added: Aug 21
Changed: Oct 13
Last Checked: Oct 15 at 1:13AM
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 NC Homes Direct
Investment Insights
Based on property information with market context.
This duplex property pairs a 3-bedroom, 1-bath house with a 2-bedroom, 1-bath apartment positioned above a detached two-car garage. The house includes an updated kitchen and bathroom, some luxury vinyl plank flooring, a partial basement, aluminum siding, and hardwood flooring beneath portions of the carpet. The apartment has updated central A/C and access to a rear deck, while a large unfinished storage room occupies space above the garage. One garage includes interior stairs to the apartment, and a cinderblock wall separates the garage areas.
The house was built in 1953, and the detached garage and apartment were built in 1978 according to the tax card. The roof and heat pump serving the house are 4 years old, and the septic tank serving the house is also 4 years old. The property is near Gamewell, Lenoir, and Morganton. The detached apartment and garage have a grandfathered legal nonconforming use for separate living quarters to be used as rental space.
The house was built in 1953, and the detached garage and apartment were built in 1978 according to the tax card. The roof and heat pump serving the house are 4 years old, and the septic tank serving the house is also 4 years old. The property is near Gamewell, Lenoir, and Morganton. The detached apartment and garage have a grandfathered legal nonconforming use for separate living quarters to be used as rental space.
Key Highlights
- 3‑bedroom, 1‑bath house paired with a 2‑bedroom, 1‑bath apartment
- Detached two‑car garage with interior stairs to the upstairs apartment
- Apartment includes a rear deck and updated central A/C
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,028
Cap Rate
4.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$260,560
$260.6K
Cap Rate 7%
$186,114
$186.1K
Cap Rate 9%
$144,756
$144.8K
Market Conditions
NOI Build-Up for 1,740 SF
Gross rent
$19.8K $11.40/SF
− Vacancy
−$1.2K −$0.70/SF
EGI
$18.6K $10.70/SF
− OpEx
−$5.6K −$3.21/SF
NOI
$13.0K $7.49/SF
Area
Caldwell County, NC
Vacancy
6.17%
Lease Rate
$11.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$260,560
Cap Rate 7%
$186,114
Cap Rate 9%
$144,756
Alternative Uses
Best Use
Multifamily LT 5
$186.1K
$162.9K – $217.1K
NOI $13,028 @ 7.0% cap · market cap 4.84%
Second Best
Apartment 5plus
$171.8K
$150.3K – $200.4K
NOI $12,026 @ 7.0% cap · market cap 4.47%
Theoretical Best
Office A
$397.1K
$347.4K – $463.3K
NOI $27,795 @ 7.0% cap · market cap 10.33%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
15
Businesses Nearby
Explore this area
Business Placement
Demographics for 28645, NC
46,004
Population
21,558
Households
2.1
Avg Household Size
45
Median Age
17%
College-Educated
82%
High-School Grad
329.1 sq mi
ZIP Area
140
Density / Sq Mi
$50,529
Median Household Income
$34,526
Median Earnings
$726
Median Rent
$157,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate living areas include updated interiors, garage access, and a rear deck.
Where is this duplex located?
The property is located at 3181 & 3177 Morganton Boulevard SW Lenoir, NC.
What is the asking price?
The asking price for this property is $269,000.
What are key features of this property?
This property features: 3‑bedroom, 1‑bath house paired with a 2‑bedroom, 1‑bath apartment; Detached two‑car garage with interior stairs to the upstairs apartment; Apartment includes a rear deck and updated central A/C
