Renovated Brick
For Sale
$399,900
4 Faye St, Belmont, NC 28012
Two residential units feature updated kitchens, hardwood flooring, stainless appliances, in-unit laundry, and dedicated carport parking.
Property Size1,720 SF
Price / SF$232.50
Days on Market34
Property Features for 4 Faye St
General Information
Standard status
Active
Size
1,720 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
new white kitchen cabinets
granite countertops
hardwood floors
stainless steel appliances
washer and dryer included
Building Details
Year Built
1956
Construction
brick
Listing Agency:
K2 Real Estate Group
(704) 962-0868
Listed By:
Olga Leggett · License #234194
Source:
Lewisandkirk
Added: Jul 26
Changed: Aug 28
Last Checked: Aug 25 at 5:01AM
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 K2 Real Estate Group
Investment Insights
Based on property information with market context.
This renovated brick duplex contains two residential units, each with two bedrooms and one bathroom. The 1,720-square-foot property includes hardwood flooring throughout, refreshed kitchens with white cabinetry and granite countertops, stainless steel appliances, and a washer and dryer. Each side has its own carport, providing dedicated covered parking for the units.
Built in 1956, the property is currently vacant and available for immediate access. The duplex is located at 4 Faye St in Belmont, North Carolina, offering a clearly defined residential income configuration with improvements already in place.
Built in 1956, the property is currently vacant and available for immediate access. The duplex is located at 4 Faye St in Belmont, North Carolina, offering a clearly defined residential income configuration with improvements already in place.
Key Highlights
- Renovated brick duplex with 1,720 square feet
- Each unit includes 2 bedrooms and 1 bath
- Updated kitchens with white cabinets and granite countertops
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
$19,943
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%
$398,860
$398.9K
Cap Rate 7%
$284,900
$284.9K
Cap Rate 9%
$221,589
$221.6K
Market Conditions
NOI Build-Up for 1,720 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
$31.0K $18.00/SF
− Vacancy
−$2.5K −$1.44/SF
EGI
$28.5K $16.56/SF
− OpEx
−$8.5K −$4.97/SF
NOI
$19.9K $11.59/SF
Area
Gaston County, NC
Vacancy
7.98%
Lease Rate
$18.00 /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%
$398,860
Cap Rate 7%
$284,900
Cap Rate 9%
$221,589
Alternative Uses
Best Use
Multifamily LT 5
$284.9K
$249.3K – $332.4K
NOI $19,943 @ 7.0% cap · market cap 4.99%
Second Best
Apartment 5plus
$260.0K
$227.5K – $303.3K
NOI $18,197 @ 7.0% cap · market cap 4.55%
Theoretical Best
Office A
$541.4K
$473.7K – $631.6K
NOI $37,895 @ 7.0% cap · market cap 9.48%
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
280
Businesses Nearby
Explore this area
Business Placement
Demographics for 28012, NC
26,202
Population
11,511
Households
2.3
Avg Household Size
41
Median Age
42%
College-Educated
92%
High-School Grad
27.3 sq mi
ZIP Area
960
Density / Sq Mi
$81,057
Median Household Income
$48,901
Median Earnings
$1,288
Median Rent
$324,400
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 residential units feature updated kitchens, hardwood flooring, stainless appliances, in-unit laundry, and dedicated carport parking.
Where is this duplex located?
The property is located at 4 Faye St Belmont, NC.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Renovated brick duplex with 1,720 square feet; Each unit includes 2 bedrooms and 1 bath; Updated kitchens with white cabinets and granite countertops
