Duplex with Greenway
For Sale
$300,000
448 Sand Hill Rd, Asheville, NC 28806
Two vacant residences offer flexible options for owner occupancy, multigenerational living, or leasing.
Property Size1,504 SF
Price / SF$199.47
Days on Market72
Property Features for 448 Sand Hill Rd
General Information
Standard status
Active
Size
1,504 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1931
Listing Agency:
Keller Williams Professionals
Listed By:
Jean Gatlin
(828) 275-2740
Source:
Lewisandkirk
Added: Aug 4
Changed: Oct 10
Last Checked: Oct 12 at 9:45PM
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 Professionals
Investment Insights
Based on property information with market context.
This two-unit duplex contains 1,504 square feet, with each residence configured as a two-bedroom, one-bath home. Both units are currently vacant, allowing a new owner to occupy the property, lease both residences, or combine personal use with rental occupancy. The building dates to 1931 and offers separate living spaces within a straightforward residential layout.
The property is located at 448 Sand Hill Rd in Asheville, North Carolina, within West Asheville. Direct access to the Hominy Creek Greenway connects the property with a route for walking and biking. Shops, restaurants, and entertainment in West Asheville are described as minutes away, while the setting also provides access to the surrounding creek and greenway environment.
The property is located at 448 Sand Hill Rd in Asheville, North Carolina, within West Asheville. Direct access to the Hominy Creek Greenway connects the property with a route for walking and biking. Shops, restaurants, and entertainment in West Asheville are described as minutes away, while the setting also provides access to the surrounding creek and greenway environment.
Key Highlights
- Two‑unit duplex with 1,504 square feet
- Each unit includes 2 bedrooms and 1 full bath
- Both units are currently vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,904
Cap Rate
5.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$338,080
$338.1K
Cap Rate 7%
$241,486
$241.5K
Cap Rate 9%
$187,822
$187.8K
Market Conditions
NOI Build-Up for 1,504 SF
Gross rent
$27.4K $18.24/SF
− Vacancy
−$3.3K −$2.18/SF
EGI
$24.1K $16.06/SF
− OpEx
−$7.2K −$4.82/SF
NOI
$16.9K $11.24/SF
Area
Buncombe County, NC
Vacancy
11.97%
Lease Rate
$18.24 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$338,080
Cap Rate 7%
$241,486
Cap Rate 9%
$187,822
Alternative Uses
Best Use
Multifamily LT 5
$241.5K
$211.3K – $281.7K
NOI $16,904 @ 7.0% cap · market cap 5.63%
Second Best
Apartment 5plus
$209.5K
$183.3K – $244.4K
NOI $14,662 @ 7.0% cap · market cap 4.89%
Theoretical Best
Office A
$475.6K
$416.1K – $554.9K
NOI $33,291 @ 7.0% cap · market cap 11.10%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
209
Businesses Nearby
Explore this area
Business Placement
Demographics for 28806, NC
44,621
Population
21,185
Households
2.1
Avg Household Size
37
Median Age
45%
College-Educated
91%
High-School Grad
38.1 sq mi
ZIP Area
1,171
Density / Sq Mi
$59,925
Median Household Income
$37,743
Median Earnings
$1,224
Median Rent
$335,800
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 - Two vacant residences offer flexible options for owner occupancy, multigenerational living, or leasing.
Where is this duplex located?
The property is located at 448 Sand Hill Rd Asheville, NC.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,504 square feet; Each unit includes 2 bedrooms and 1 full bath; Both units are currently vacant
