Duplex with Fenced Yard and
New
For Sale
$350,000
322 Salisbury Road, Statesville, NC 28677
Two distinct floor plans pair a larger remodeled kitchen with a second unit featuring an open entry and high ceilings.
Property Size1,928 SF
Price / SF$120.52
Days on Market7
Property Features for 322 Salisbury Road
General Information
Standard status
Active
Size
1,928 SF
Property subtype
Duplex
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
fenced backyard with patio and mature trees
Architectural Shingle
Back Yard
Public Sewer
Additional parcels description:, Parcel Number: 4744-25-4698.000, Assessed Value: $356,840
Hardwood, Tile, Vinyl
1 space
Central Air, Electric, Gas, Heat Pump
Central, Electric, Heat Pump, Natural Gas
Main Level
Listing ID: CAR4432896, Standard Status: Active, MLS Status: Active, Property Subtype: Duplex, 2 days on market, Special Conditions: None
Driveway
Elementary School: Unspecified, Middle School: Unspecified, High School: Unspecified
5 total bedrooms
Built in 1928, Living area: 2904, Construction Materials: Brick Partial, Synthetic Stucco, Vinyl
Subdivision: Reynolda, County/Parish: Iredell
Other structures: Shed(s)
3 full bathrooms
Water Source: City
Crawl Space
Allowed: Yes
Road Responsibility: Publicly Maintained Road, Road Surface: Concrete
Dishwasher, Electric Water Heater, Refrigerator
Building Details
Building Size
1,928 SF
Year Built
1928
Buildings
1
Listing Agency:
Fathom Realty NC LLC
(888) 455-6040
Listed By:
Steve Zink
(704) 657-4890
Source:
Blackstreaminternational
Added: Oct 16
Changed: Oct 21
Last Checked: Oct 21 at 2:15AM
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 Fathom Realty NC LLC
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Investment Insights
Based on property information with market context.
At 2,904 square feet, this Statesville duplex contains two separate residences with five bedrooms and three bathrooms combined. The larger unit offers three bedrooms, two baths, original hardwood floors, spacious rooms, and a remodeled kitchen with granite countertops and stainless appliances. The other residence has two bedrooms and one bath, with a ground-floor kitchen, family room, built-ins, and laundry area. Recent work includes an HVAC system in the smaller unit in 2026 and a water heater in the larger unit in 2025; the roof dates to 2018.
The property at 322 Salisbury Road is near downtown Statesville, I-77, restaurants, parks, and shops. A fenced backyard includes a patio and mature trees.
The property at 322 Salisbury Road is near downtown Statesville, I-77, restaurants, parks, and shops. A fenced backyard includes a patio and mature trees.
Key Highlights
- 2,904 SF duplex with 5 bedrooms and 3 bathrooms total
- Larger unit: 3 bedrooms, 2 baths, remodeled kitchen, granite counters, and stainless appliances
- Smaller unit: 2 bedrooms, 1 bath, with kitchen, family room, built‑ins, and laundry area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,579
Cap Rate
8.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$571,580
$571.6K
Cap Rate 7%
$408,271
$408.3K
Cap Rate 9%
$317,544
$317.5K
Market Conditions
NOI Build-Up for 2,904 SF
Gross rent
$42.9K $14.76/SF
− Vacancy
−$2.0K −$0.70/SF
EGI
$40.8K $14.06/SF
− OpEx
−$12.2K −$4.22/SF
NOI
$28.6K $9.84/SF
Area
Iredell County, NC
Vacancy
4.75%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$571,580
Cap Rate 7%
$408,271
Cap Rate 9%
$317,544
Alternative Uses
Best Use
Multifamily LT 5
$408.3K
$357.2K – $476.3K
NOI $28,579 @ 7.0% cap · market cap 8.17%
Second Best
Apartment 5plus
$377.2K
$330.0K – $440.0K
NOI $26,402 @ 7.0% cap · market cap 7.54%
Theoretical Best
Office A
$914.0K
$799.8K – $1.07M
NOI $63,981 @ 7.0% cap · market cap 18.28%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
999
Businesses Nearby
Explore this area
Business Placement
Demographics for 28677, NC
35,926
Population
16,096
Households
2.2
Avg Household Size
41
Median Age
22%
College-Educated
85%
High-School Grad
83.0 sq mi
ZIP Area
433
Density / Sq Mi
$59,081
Median Household Income
$34,684
Median Earnings
$861
Median Rent
$207,000
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
Frequently Asked Questions
What type of property is this?
Duplex - Two distinct floor plans pair a larger remodeled kitchen with a second unit featuring an open entry and high ceilings.
Where is this duplex located?
The property is located at 322 Salisbury Road Statesville, NC.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 2,904 SF duplex with 5 bedrooms and 3 bathrooms total; Larger unit: 3 bedrooms, 2 baths, remodeled kitchen, granite counters, and stainless appliances; Smaller unit: 2 bedrooms, 1 bath, with kitchen, family room, built‑ins, and laundry area
