Two-Unit Duplex with Open
For Sale
$575,000
427 B Arbor Drive, Waxhaw, NC 28173
Residential Income, Waxhaw, NC
Property Size2,624 SF
Lot Size0.11 Acres
Price / SF$219.13
Days on Market52
Property Features for 427 B Arbor Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
AK2
Zoning description
AK2
Bedrooms
6
Bathrooms
6
Full bathrooms
4
Half bathrooms
2
Rooms
Bedroom 3, Bathroom 5, Bathroom 6, Dining Room, Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 6, Bedroom 4, Bathroom 4, Laundry Room, Bedroom 1, Bedroom 5, Bedroom 2
Parking features
Driveway
Window features
Insulated Windows
Patio and Porch features
Porch
Interior features
Open Floorplan, Pantry
Appliances
Dishwasher, Electric Range, Microwave
Lot features
Sloped
Elementary school
Waxhaw
Middle school
Parkwood
High school
Parkwood
Standard status
Active
APN
05-115-055
Lot size
0.11 Acres
Taxes and HOA fees
Tax Description
#1B OPCP378
Legal Description
#1B OPCP378
Utilities
Sewer type
Public Sewer
Heating system
Central, Heat Pump (Heating), Electric (Heating)
Cooling system
Ceiling Fan(s), Central Air, Electric
Building Details
Year built
2021
Floors in Building
2
Number of units
2
Flooring type
Laminate, Carpet
Building materials
Fiber Cement
Roof type
Composition
Architectural style
Other
Listing Agency:
David Hoffman Realty Charlotte
(704) 237-0485
Listed By:
Megan Banks
(704) 905-8689
Added: Aug 20
Changed: Oct 8
Last Checked: Oct 10 at 12:06AM
MLS# 4415435
Copyright © 2026 Canopy MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex contains two residences, each arranged with three bedrooms and two-and-a-half baths. Both units have an open main-level living area, granite countertops, shaker-style cabinets, laminate flooring downstairs, and carpeted bedrooms upstairs. Washer and dryer connections and driveway parking serve each residence. The property was built in 2021 and sits on a 0.114-acre lot. Fiber cement exterior materials, a composition roof, and a porch are also noted.
One residence is leased, while the other is vacant. The vacant unit is being marketed for lease, leaving its next occupancy to be determined. The property is near downtown Waxhaw shopping, dining, community amenities, and the Waxhaw Library. Zoning is AK2.
One residence is leased, while the other is vacant. The vacant unit is being marketed for lease, leaving its next occupancy to be determined. The property is near downtown Waxhaw shopping, dining, community amenities, and the Waxhaw Library. Zoning is AK2.
Key Highlights
- Two residences, each with 3 bedrooms and 2.5 baths
- One unit is leased; the second is vacant and marketed for lease
- Built in 2021 on a 0.114‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,700
Cap Rate
4.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$474,000
$474.0K
Cap Rate 7%
$338,571
$338.6K
Cap Rate 9%
$263,333
$263.3K
Market Conditions
NOI Build-Up for 2,624 SF
Gross rent
$36.2K $13.80/SF
− Vacancy
−$2.4K −$0.90/SF
EGI
$33.9K $12.90/SF
− OpEx
−$10.2K −$3.87/SF
NOI
$23.7K $9.03/SF
Area
Union 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%
$474,000
Cap Rate 7%
$338,571
Cap Rate 9%
$263,333
Alternative Uses
Best Use
Multifamily LT 5
$338.6K
$296.3K – $395.0K
NOI $23,700 @ 7.0% cap · market cap 4.12%
Second Best
Apartment 5plus
$307.6K
$269.2K – $358.9K
NOI $21,534 @ 7.0% cap · market cap 3.75%
Theoretical Best
Office A
$810.5K
$709.2K – $945.6K
NOI $56,735 @ 7.0% cap · market cap 9.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
421
Businesses Nearby
Explore this area
Business Placement
Demographics for 28173, NC
64,144
Population
20,801
Households
3.1
Avg Household Size
39
Median Age
57%
College-Educated
95%
High-School Grad
106.3 sq mi
ZIP Area
603
Density / Sq Mi
$146,196
Median Household Income
$59,188
Median Earnings
$1,700
Median Rent
$558,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence has three bedrooms, two-and-a-half baths, driveway parking, and an open main-level living area.
Where is this duplex located?
The property is located at 427 B Arbor Drive Waxhaw, NC.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Two residences, each with 3 bedrooms and 2.5 baths; One unit is leased; the second is vacant and marketed for lease; Built in 2021 on a 0.114‑acre lot
