New Ranch-Style
New
For Sale
$459,000
415-417 F Avenue SE, Hickory, NC 28602
Two three-bedroom units include ensuite primary suites with private baths and walk-in closets.
Property Size2,496 SF
Price / SF$183.89
Days on Market7
Property Features for 415-417 F Avenue SE
General Information
Standard status
Active
Size
2,496 SF
Property subtype
Duplex
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Amenities
Features: Cleared, Size: 0.48, Size Units: Acres
Man Level Garage: 0
Details: Central Air, Electric
Heating: Central, Electric
Description: Electric Dryer Hookup, Laundry Closet, Main Level, Washer Hookup
Days on Market: 1, Listing Price: 459000, Status: Active
Elementary: Oakwood, Middle/Junior High: Unspecified, High School: Hickory
Total Bathrooms: 6
Finished Area Above Grade: 2496, Area: 2496, Architecture: Ranch, Building Area: 2496, Construction Materials: Hardboard Siding, Stories: 1, Year Built: 2026, Construction Type: Site Built
City: Hickory, State: NC, Zip: 28602, County: Catawba, Directions: Lenoir Thyne Blvd SE to F Ave SE
Full Bathrooms: 4, Half Bathrooms: 0
Sewer: Public Sewer, Water Source: City
Description: Yes
Auction Y/N: 0
Description: Dishwasher, Electric Range, Microwave, Refrigerator
Building Details
Building Size
2,496 SF
Year Built
2026
Buildings
1
Construction
ranch-style
Listing Agency:
Gladysh Realty LLC
(413) 355-0545
Listed By:
Viktoriya Gladysh
(413) 355-0545
Source:
Blackstreaminternational
Added: Aug 13
Changed: Aug 17
Last Checked: Aug 18 at 4:54AM
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 Gladysh Realty LLC
Investment Insights
Based on property information with market context.
Completed in 2026, this ranch-style duplex contains two residences totaling 2,496 square feet. Each unit offers three bedrooms and two full bathrooms, with a primary suite that includes a private bathroom with a shower and a walk-in closet.
The property is located at 415-417 F Avenue SE in Hickory, near Downtown Hickory and the City Walk. Its setting provides proximity to shopping, dining, recreation, and entertainment. The two-unit layout also supports a multigenerational living arrangement, as described in the property information.
The property is located at 415-417 F Avenue SE in Hickory, near Downtown Hickory and the City Walk. Its setting provides proximity to shopping, dining, recreation, and entertainment. The two-unit layout also supports a multigenerational living arrangement, as described in the property information.
Key Highlights
- Two‑unit ranch‑style duplex completed in 2026
- 2,496 square feet with six bedrooms and four full bathrooms
- Each unit includes 3 bedrooms and 2 full bathrooms
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
$22,544
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
4.91%
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%
$450,880
$450.9K
Cap Rate 7%
$322,057
$322.1K
Cap Rate 9%
$250,489
$250.5K
Market Conditions
NOI Build-Up for 2,496 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
$34.4K $13.80/SF
− Vacancy
−$2.2K −$0.90/SF
EGI
$32.2K $12.90/SF
− OpEx
−$9.7K −$3.87/SF
NOI
$22.5K $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 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%
$450,880
Cap Rate 7%
$322,057
Cap Rate 9%
$250,489
Alternative Uses
Best Use
Multifamily LT 5
$322.1K
$281.8K – $375.7K
NOI $22,544 @ 7.0% cap · market cap 4.91%
Second Best
Apartment 5plus
$299.3K
$261.9K – $349.2K
NOI $20,949 @ 7.0% cap · market cap 4.56%
Theoretical Best
Office A
$729.1K
$638.0K – $850.6K
NOI $51,038 @ 7.0% cap · market cap 11.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
745
Businesses Nearby
Explore this area
Business Placement
Demographics for 28602, NC
29,184
Population
12,941
Households
2.3
Avg Household Size
42
Median Age
18%
College-Educated
87%
High-School Grad
70.7 sq mi
ZIP Area
413
Density / Sq Mi
$56,031
Median Household Income
$36,519
Median Earnings
$830
Median Rent
$180,300
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 three-bedroom units include ensuite primary suites with private baths and walk-in closets.
Where is this duplex located?
The property is located at 415-417 F Avenue SE Hickory, NC.
What is the asking price?
The asking price for this property is $459,000.
What are key features of this property?
This property features: Two‑unit ranch‑style duplex completed in 2026; 2,496 square feet with six bedrooms and four full bathrooms; Each unit includes 3 bedrooms and 2 full bathrooms
