Building Details

Year Built 1981

Stories 2

Construction Deltec

Listing Agency: Lake Homes Realty LLC

Listed By: Glenn Fisher · License #270991 Show Phone

Source: Highperformancerea

Added: Aug 12 Changed: Oct 6 Last Checked: Oct 7 at 3:34PM

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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 Lake Homes Realty LLC

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Investment Insights

Based on property information with market context.

This 1,688-square-foot duplex is arranged across two levels, with each level offering two bedrooms, one full bathroom, and an open kitchen and living area. The Deltec home was built in 1981 and features abundant natural light along with year-round views of Lake Hickory.

Located at 500 Steel Bridge Loop in Hickory, the property is within walking distance of Lake Hickory Marina and Wittenburg boat access. Its layout provides two separately configured residential levels while maintaining a consistent two-bedroom, one-bath arrangement throughout.

Key Highlights

• 1,688‑square‑foot duplex with two residential levels
• Each level includes 2 bedrooms, 1 full bathroom, and an open kitchen and living area
• Year‑round views of Lake Hickory

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$15,246

Cap Rate

3.81%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$304,920 $304.9K

Cap Rate 7%

$217,800 $217.8K

Cap Rate 9%

$169,400 $169.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,688 SF

Gross rent

$23.3K $13.80/SF

− Vacancy

−$1.5K −$0.90/SF

EGI

$21.8K $12.90/SF

− OpEx

−$6.5K −$3.87/SF

NOI

$15.2K $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%

$304,920

Cap Rate 7%

$217,800

Cap Rate 9%

$169,400

Alternative Uses

Best Use

Multifamily LT 5

$217.8K

$190.6K – $254.1K (±1% cap)

NOI $15,246 @ 7.0% cap · market cap 3.81%

Second Best

Apartment 5plus

$202.4K

$177.1K – $236.1K (±1% cap)

NOI $14,168 @ 7.0% cap · market cap 3.54%

Theoretical Best

Office A

$493.1K

$431.5K – $575.3K (±1% cap)

NOI $34,516 @ 7.0% cap · market cap 8.63%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Duplexes

Suggested Use

Top Pick Building Supply Real Estate Agency Big Box & Wholesale Store Auto Repair Shop Law Firm Dental Office

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

60

Businesses Nearby

Explore this area Business Placement

Demographics for 28601, NC

53,973

Population

23,400

Households

2.3

Avg Household Size

42

Median Age

35%

College-Educated

90%

High-School Grad

47.1 sq mi

ZIP Area

1,146

Density / Sq Mi

$67,839

Median Household Income

$41,697

Median Earnings

$951

Median Rent

$236,100

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Two-level property with paired living spaces and convenient access to Lake Hickory Marina and Wittenburg boat access.

Where is this duplex located?

The property is located at 500 Steel Bridge Loop Hickory, 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: 1,688‑square‑foot duplex with two residential levels; Each level includes 2 bedrooms, 1 full bathroom, and an open kitchen and living area; Year‑round views of Lake Hickory