New Two-Unit
For Sale
$399,900
4000 Herman Sipe Rd, Conover, NC 28613
Each residence provides two bedrooms, two bathrooms, granite countertops, and a combination of tile and LVP flooring.
Property Size2,048 SF
Price / SF$195.26
Days on Market59
Property Features for 4000 Herman Sipe Rd
General Information
Standard status
Active
Size
2,048 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
2026
Buildings
1
Listing Agency:
Keller Williams Unified
Listed By:
Evan Massey · License #316960
(704) 799-3700
Source:
Lewisandkirk
Added: Aug 18
Changed: Oct 10
Last Checked: Oct 7 at 5:30PM
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 Keller Williams Unified
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Investment Insights
Based on property information with market context.
This newly built duplex contains two separately configured residences, each measuring approximately 1,024 square feet. Both units offer two bedrooms and two bathrooms, with granite countertops plus tile and LVP flooring throughout. The combined property totals approximately 2,048 square feet under one roof.
Located at 4000 Herman Sipe Rd in Conover, the duplex is a short distance from downtown Conover and I-40, with Hickory reachable in approximately 10 minutes. The two-unit layout supports side-by-side occupancy for an owner and family members or the option to occupy one unit while leasing the other.
Located at 4000 Herman Sipe Rd in Conover, the duplex is a short distance from downtown Conover and I-40, with Hickory reachable in approximately 10 minutes. The two-unit layout supports side-by-side occupancy for an owner and family members or the option to occupy one unit while leasing the other.
Key Highlights
- Newly built duplex with two units under one roof
- Each unit is approximately 1,024 sq ft with 2 beds and 2 baths
- Combined property size of approximately 2,048 sq ft
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,498
Cap Rate
4.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$369,960
$370.0K
Cap Rate 7%
$264,257
$264.3K
Cap Rate 9%
$205,533
$205.5K
Market Conditions
NOI Build-Up for 2,048 SF
Gross rent
$28.3K $13.80/SF
− Vacancy
−$1.8K −$0.90/SF
EGI
$26.4K $12.90/SF
− OpEx
−$7.9K −$3.87/SF
NOI
$18.5K $9.03/SF
Area
Catawba County, NC
Vacancy
6.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$369,960
Cap Rate 7%
$264,257
Cap Rate 9%
$205,533
Alternative Uses
Best Use
Multifamily LT 5
$264.3K
$231.2K – $308.3K
NOI $18,498 @ 7.0% cap · market cap 4.63%
Second Best
Apartment 5plus
$245.6K
$214.9K – $286.5K
NOI $17,189 @ 7.0% cap · market cap 4.30%
Theoretical Best
Office A
$598.3K
$523.5K – $698.0K
NOI $41,878 @ 7.0% cap · market cap 10.47%
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
41
Businesses Nearby
Explore this area
Business Placement
Demographics for 28613, NC
22,970
Population
10,222
Households
2.2
Avg Household Size
41
Median Age
20%
College-Educated
85%
High-School Grad
42.4 sq mi
ZIP Area
542
Density / Sq Mi
$55,690
Median Household Income
$38,932
Median Earnings
$822
Median Rent
$208,400
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 - Each residence provides two bedrooms, two bathrooms, granite countertops, and a combination of tile and LVP flooring.
Where is this duplex located?
The property is located at 4000 Herman Sipe Rd Conover, 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: Newly built duplex with two units under one roof; Each unit is approximately 1,024 sq ft with 2 beds and 2 baths; Combined property size of approximately 2,048 sq ft
