Renovated Duplex with Separate
New
For Sale
$260,000
335 Unit A & Unit B N Oakland Avenue, Statesville, NC 28677
Two vacant residences offer separate exterior access and off-street parking on a roughly one-third-acre parcel.
Property Size1,906 SF
Lot Size0.33 Acres
Price / SF$199.54
Days on Market4
Property Features for 335 Unit A & Unit B N Oakland Avenue
General Information
Standard status
Active
Size
1,906 SF
Lot size
0.33 Acres
Property subtype
Duplex
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Amenities
Dimensions: 197x75x195x73
Architectural Shingle
Public Sewer
Additional parcels description:, Parcel Number: 4734-46-4496.000, Assessed Value: $179,010
Vinyl
Central Air
Electric, Heat Pump
In Kitchen
Listing ID: CAR4437094, Standard Status: Active, MLS Status: Active, Property Subtype: Duplex, 1 day on market, Special Conditions: None
4 open parking spaces, 4 total parking spaces, Other Parking: Paved driveway with plenty of parking behind home on property., Other - See Remarks
Elementary School: N.B. Mills, Middle School: Third Creek, High School: Statesville
Insulated Window(s)
Exterior Entry
3 total bedrooms
Built in 1906, Living area: 1303, Construction Materials: Vinyl
Subdivision: Brookfield, County/Parish: Iredell
2 full bathrooms
Electricity Connected, Water Source: City
Basement, Crawl Space
Exterior Maintenance, Other - See Remarks
Allowed: Call
Road Responsibility: Publicly Maintained Road, Road Surface: Asphalt, Paved
Patio/Porch Features: Front Porch
Electric Oven, Electric Range, Electric Water Heater
Building Details
Building Size
1,906 SF
Year Built
1906
Buildings
1
Listing Agency:
Michael Andrew Group LLC
Listed By:
Michael Mejia · License #324746
(980) 777-4200
Source:
Blackstreaminternational
Added: Oct 28
Changed: Oct 31
Last Checked: Oct 30 at 3:03PM
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 Michael Andrew Group LLC
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Investment Insights
Based on property information with market context.
Built in 1906, this duplex contains two units: one with 2 beds and 1 bath, and another with 1 bed and 1 bath. Each residence has two exterior entrances. The property measures 1,303 square feet and sits on approximately one-third of an acre, with a rear driveway providing off-street parking.
Renovations and system replacements completed in 2024/2025 include LVP flooring, stoves, refrigerators, electrical and plumbing work, windows, vinyl siding, HVAC units, a roof, and water heaters. Both units are to be delivered vacant, leaving leasing decisions to the next owner.
Renovations and system replacements completed in 2024/2025 include LVP flooring, stoves, refrigerators, electrical and plumbing work, windows, vinyl siding, HVAC units, a roof, and water heaters. Both units are to be delivered vacant, leaving leasing decisions to the next owner.
Key Highlights
- Two units: one with 2 beds and 1 bath; the other with 1 bed and 1 bath
- Each unit has two separate exterior entrances
- 1,303 square feet on approximately one‑third of an acre
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,823
Cap Rate
4.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$256,460
$256.5K
Cap Rate 7%
$183,186
$183.2K
Cap Rate 9%
$142,478
$142.5K
Market Conditions
NOI Build-Up for 1,303 SF
Gross rent
$19.2K $14.76/SF
− Vacancy
−$914 −$0.70/SF
EGI
$18.3K $14.06/SF
− OpEx
−$5.5K −$4.22/SF
NOI
$12.8K $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%
$256,460
Cap Rate 7%
$183,186
Cap Rate 9%
$142,478
Alternative Uses
Best Use
Multifamily LT 5
$183.2K
$160.3K – $213.7K
NOI $12,823 @ 7.0% cap · market cap 4.93%
Second Best
Apartment 5plus
$169.2K
$148.1K – $197.4K
NOI $11,846 @ 7.0% cap · market cap 4.56%
Theoretical Best
Office A
$410.1K
$358.9K – $478.5K
NOI $28,708 @ 7.0% cap · market cap 11.04%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
204
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?
Duplex - Two vacant residences offer separate exterior access and off-street parking on a roughly one-third-acre parcel.
Where is this duplex located?
The property is located at 335 Unit A & Unit B N Oakland Avenue Statesville, NC.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: Two units: one with 2 beds and 1 bath; the other with 1 bed and 1 bath; Each unit has two separate exterior entrances; 1,303 square feet on approximately one‑third of an acre
