Renovated
For Sale
$435,000
334 Davie Avenue, Statesville, NC 28677
Three-unit housing offers a rental configuration near downtown.
Property Size3,066 SF
Price / SF$141.88
Days on Market32
Property Features for 334 Davie Avenue
General Information
Standard status
Active
Size
3,066 SF
Property subtype
Triplex
Building Details
Year Built
1901
Listing Agency:
Evergreen Mountain Realty Group, LLC
(828) 550-7872
Listed By:
Sara Adams
(828) 400-6242
Source:
Evergreenwnc
Added: Oct 1
Changed: Oct 31
Last Checked: Oct 31 at 10:57AM
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 Evergreen Mountain Realty Group, LLC
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Investment Insights
Based on property information with market context.
This triplex contains 3,066 square feet and dates to 1901. The property has undergone extensive interior renovation, with work reaching the building’s structural framing.
The address is 334 Davie Avenue in Statesville, within walking distance of downtown. The residential layout may support short- or long-term rental use.
The address is 334 Davie Avenue in Statesville, within walking distance of downtown. The residential layout may support short- or long-term rental use.
Key Highlights
- 3,066‑square‑foot triplex
- Built in 1901
- Renovation work extended to the structural framing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,173
Cap Rate
6.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$603,460
$603.5K
Cap Rate 7%
$431,043
$431.0K
Cap Rate 9%
$335,256
$335.3K
Market Conditions
NOI Build-Up for 3,066 SF
Gross rent
$45.3K $14.76/SF
− Vacancy
−$2.1K −$0.70/SF
EGI
$43.1K $14.06/SF
− OpEx
−$12.9K −$4.22/SF
NOI
$30.2K $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%
$603,460
Cap Rate 7%
$431,043
Cap Rate 9%
$335,256
Alternative Uses
Best Use
Multifamily LT 5
$431.0K
$377.2K – $502.9K
NOI $30,173 @ 7.0% cap · market cap 6.94%
Second Best
Apartment 5plus
$398.2K
$348.4K – $464.6K
NOI $27,875 @ 7.0% cap · market cap 6.41%
Theoretical Best
Office A
$965.0K
$844.4K – $1.13M
NOI $67,550 @ 7.0% cap · market cap 15.53%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Location Intelligence
Trade Area within ½ mile
1,088
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit housing offers a rental configuration near downtown.
Where is this triplex located?
The property is located at 334 Davie Avenue Statesville, NC.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: 3,066‑square‑foot triplex; Built in 1901; Renovation work extended to the structural framing
