Duplex with Fenced
New
For Sale
$350,000
322 Salisbury Road, Statesville, NC 28677
Residential Income, Statesville, NC
Property Size2,900 SF
Lot Size0.31 Acres
Price / SF$120.69
Days on Market4
Property Features for 322 Salisbury Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
R5MF
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bathroom 3, Bedroom 3, Bedroom 2, Bedroom 5, Bathroom 1, Bedroom 1, Laundry Room, Bedroom 4
Parking features
Driveway
Pets allowed
Yes
Fireplace
1
Appliances
Dishwasher, Electric Water Heater, Refrigerator
Subdivision
Reynolda
Elementary school
Unspecified
Middle school
Unspecified
High school
Unspecified
Standard status
Active
APN
4744-25-4698.000
Lot size
0.31 Acres
Taxes and HOA fees
Tax Description
L48-49 REYNOLDA PB 1-135
Legal Description
L48-49 REYNOLDA PB 1-135
Utilities
Sewer type
Public Sewer
Heating system
Central, Natural Gas, Electric (Heating), Heat Pump (Heating)
Cooling system
Electric, Gas (Cooling), Central Air, Heat Pump
Amenities
fenced backyard
patio
Building Details
Year built
1928
Number of units
2
Flooring type
Vinyl, Tile, Hardwood
Building materials
Brick Partial, Synthetic Stucco, Vinyl
Roof type
Shingle
Listing Agency:
Fathom Realty NC LLC
(888) 455-6040
Listed By:
Steve Zink
(704) 724-2741
Added: Oct 16
Changed: Oct 18
Last Checked: Oct 19 at 1:06AM
MLS# 4432896
Copyright © 2026 Canopy MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 1928 duplex contains two residences totaling just over 2,900 square feet, with five bedrooms and three bathrooms. The larger side has three bedrooms, two bathrooms, hardwood flooring, and a renovated kitchen with granite counters and stainless steel appliances. The other unit offers two bedrooms, one bathroom, a kitchen, family room, built-in features, and laundry space. The property has a fenced backyard with a patio and mature trees.
A heat pump was added to the smaller unit in 2026, and the larger unit received a water heater in 2025. The shingle roof dates to 2018. The 0.31-acre property is near downtown Statesville, I-77, restaurants, parks, and shops.
A heat pump was added to the smaller unit in 2026, and the larger unit received a water heater in 2025. The shingle roof dates to 2018. The 0.31-acre property is near downtown Statesville, I-77, restaurants, parks, and shops.
Key Highlights
- Two‑unit duplex with five bedrooms and three bathrooms
- Just over 2,900 square feet on a 0.31‑acre lot
- Larger residence has 3 bedrooms, 2 bathrooms, and a remodeled kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,540
Cap Rate
8.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$570,800
$570.8K
Cap Rate 7%
$407,714
$407.7K
Cap Rate 9%
$317,111
$317.1K
Market Conditions
NOI Build-Up for 2,900 SF
Gross rent
$42.8K $14.76/SF
− Vacancy
−$2.0K −$0.70/SF
EGI
$40.8K $14.06/SF
− OpEx
−$12.2K −$4.22/SF
NOI
$28.5K $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%
$570,800
Cap Rate 7%
$407,714
Cap Rate 9%
$317,111
Alternative Uses
Best Use
Multifamily LT 5
$407.7K
$356.8K – $475.7K
NOI $28,540 @ 7.0% cap · market cap 8.15%
Second Best
Apartment 5plus
$376.6K
$329.6K – $439.4K
NOI $26,365 @ 7.0% cap · market cap 7.53%
Theoretical Best
Office A
$912.8K
$798.7K – $1.06M
NOI $63,893 @ 7.0% cap · market cap 18.26%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
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 separate residences offer distinct layouts, including a remodeled kitchen in the larger unit.
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: Two‑unit duplex with five bedrooms and three bathrooms; Just over 2,900 square feet on a 0.31‑acre lot; Larger residence has 3 bedrooms, 2 bathrooms, and a remodeled kitchen
