Duplex With Expansion
For Sale
$329,900
4169 Grace Chapel Road, Granite Falls, NC 28630
Vacant duplex with unfinished space stubbed for a full bathroom.
Property Size1,564 SF
Price / SF$210.93
Days on Market146
Property Features for 4169 Grace Chapel Road
General Information
Standard status
Active
Size
1,564 SF
Property subtype
Multi-Family
Zoning
NB
Amenities
Other
Carpet,Vinyl
1
No
5
In Unit
1564
2
County Water
0.44
Driveway,Parking Lot
Asphalt,Paved
Crawl Space,Slab
Publicly Maintained Road
Building Details
Building Size
1,564 SF
Year Built
1945
Stories
2
Listing Agency:
Caulder Realty & Land Co.
(864) 525-1177
Listed By:
Kimber Roberts
(864) 525-1177
Source:
Cdanjoyner
Added: Mar 27
Changed: Aug 18
Last Checked: Aug 19 at 5:18AM
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 Caulder Realty & Land Co.
Investment Insights
Based on property information with market context.
This 1,564-square-foot duplex contains two finished residences. The upper unit offers two bedrooms, one bathroom, washer and dryer hookups, and a mini-split system. The lower unit includes one bedroom and one bathroom, along with a substantial unfinished area that is already stubbed for another full bathroom. That space may accommodate additional bedrooms, subject to applicable approvals.
Recent property improvements include new windows, electric panels, a roof, and siding. The property is currently vacant and is served by septic and county water. Additional physical details include a crawl space and slab foundation elements, paved driveway and parking areas, and access from a publicly maintained road. The 0.44-acre property is zoned NB and was built in 1945.
Recent property improvements include new windows, electric panels, a roof, and siding. The property is currently vacant and is served by septic and county water. Additional physical details include a crawl space and slab foundation elements, paved driveway and parking areas, and access from a publicly maintained road. The 0.44-acre property is zoned NB and was built in 1945.
Key Highlights
- 1,564 SF duplex with two finished units
- Upper unit has 2 bedrooms, 1 bathroom, washer/dryer hookups, and a mini‑split system
- Lower unit has 1 bedroom and 1 bathroom
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
$11,711
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
3.55%
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%
$234,220
$234.2K
Cap Rate 7%
$167,300
$167.3K
Cap Rate 9%
$130,122
$130.1K
Market Conditions
NOI Build-Up for 1,564 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
$17.8K $11.40/SF
− Vacancy
−$1.1K −$0.70/SF
EGI
$16.7K $10.70/SF
− OpEx
−$5.0K −$3.21/SF
NOI
$11.7K $7.49/SF
Area
Caldwell County, NC
Vacancy
6.17%
Lease Rate
$11.40 /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%
$234,220
Cap Rate 7%
$167,300
Cap Rate 9%
$130,122
Alternative Uses
Best Use
Multifamily LT 5
$167.3K
$146.4K – $195.2K
NOI $11,711 @ 7.0% cap · market cap 3.55%
Second Best
Apartment 5plus
$154.4K
$135.1K – $180.2K
NOI $10,810 @ 7.0% cap · market cap 3.28%
Theoretical Best
Office A
$356.9K
$312.3K – $416.4K
NOI $24,984 @ 7.0% cap · market cap 7.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6
Businesses Nearby
Explore this area
Business Placement
Demographics for 28630, NC
19,772
Population
9,220
Households
2.1
Avg Household Size
44
Median Age
18%
College-Educated
82%
High-School Grad
61.0 sq mi
ZIP Area
324
Density / Sq Mi
$65,713
Median Household Income
$41,407
Median Earnings
$808
Median Rent
$197,800
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 - Vacant duplex with unfinished space stubbed for a full bathroom.
Where is this duplex located?
The property is located at 4169 Grace Chapel Road Granite Falls, NC.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: 1,564 SF duplex with two finished units; Upper unit has 2 bedrooms, 1 bathroom, washer/dryer hookups, and a mini‑split system; Lower unit has 1 bedroom and 1 bathroom
