New Construction
For Sale
$1,094,000
3219 Credenza Rd, Charlotte, NC 28208
Two four-bedroom units include private garages, stainless steel appliances, and individually fenced backyards.
Property Size4,154 SF
Price / SF$263.36
Days on Market21
Property Features for 3219 Credenza Rd
General Information
Standard status
Active
Size
4,154 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 4BR/2.5BA
Multifamily Units
2
Parking per Unit
1
Building Details
Year Built
2026
Listing Agency:
LKI Realty LLC
(704) 619-3302
Listed By:
Troy Knight · License #266138
Source:
Thejaywhiteteam
Added: Aug 9
Changed: Aug 29
Last Checked: Aug 25 at 5:41AM
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 LKI Realty LLC
Investment Insights
Based on property information with market context.
This 4,154-square-foot duplex, built in 2026, is arranged as two townhome-style residences. Each unit contains 4 bedrooms, 2.5 bathrooms, and a one-car garage, along with a private fenced backyard. Interior features include solid-wood cabinetry with soft-close doors and drawers, stainless steel kitchen appliances, and a walk-in pantry.
Located at 3219 Credenza Rd in Charlotte’s Enderly Park area, the property offers access to nearby parks, city amenities, and major routes. The two-unit configuration provides separate residential spaces within one building, with each side offering its own garage, kitchen, bedrooms, bathrooms, and outdoor area.
Located at 3219 Credenza Rd in Charlotte’s Enderly Park area, the property offers access to nearby parks, city amenities, and major routes. The two-unit configuration provides separate residential spaces within one building, with each side offering its own garage, kitchen, bedrooms, bathrooms, and outdoor area.
Key Highlights
- 4,154 SF duplex built in 2026
- Two townhome‑style units, each with 4 bedrooms and 2.5 bathrooms
- One‑car garage and fenced backyard for each unit
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
$54,581
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
4.99%
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%
$1,091,620
$1.1M
Cap Rate 7%
$779,729
$779.7K
Cap Rate 9%
$606,456
$606.5K
Market Conditions
NOI Build-Up for 4,154 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
$82.2K $19.80/SF
− Vacancy
−$4.3K −$1.03/SF
EGI
$78.0K $18.77/SF
− OpEx
−$23.4K −$5.63/SF
NOI
$54.6K $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%
$1,091,620
Cap Rate 7%
$779,729
Cap Rate 9%
$606,456
Alternative Uses
Best Use
Multifamily LT 5
$779.7K
$682.3K – $909.7K
NOI $54,581 @ 7.0% cap · market cap 4.99%
Second Best
Apartment 5plus
$718.0K
$628.3K – $837.7K
NOI $50,262 @ 7.0% cap · market cap 4.59%
Theoretical Best
Office A
$1.38M
$1.21M – $1.61M
NOI $96,830 @ 7.0% cap · market cap 8.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
835
Businesses Nearby
Explore this area
Business Placement
Demographics for 28208, NC
38,614
Population
17,842
Households
2.2
Avg Household Size
34
Median Age
26%
College-Educated
81%
High-School Grad
20.2 sq mi
ZIP Area
1,912
Density / Sq Mi
$51,339
Median Household Income
$40,359
Median Earnings
$1,173
Median Rent
$198,300
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 four-bedroom units include private garages, stainless steel appliances, and individually fenced backyards.
Where is this duplex located?
The property is located at 3219 Credenza Rd Charlotte, NC.
What is the asking price?
The asking price for this property is $1,094,000.
What are key features of this property?
This property features: 4,154 SF duplex built in 2026; Two townhome‑style units, each with 4 bedrooms and 2.5 bathrooms; One‑car garage and fenced backyard for each unit
