Newly Built
New
For Sale
$439,900
511 N Hill Street A and B, Dallas, NC 28034
Two-unit residential property with central air, heat pumps, and contemporary kitchen appliances.
Property Size3,368 SF
Price / SF$130.61
Days on Market4
Property Features for 511 N Hill Street A and B
General Information
Standard status
Active
Size
3,368 SF
Property subtype
Residential Income
Zoning
R-6
Additional Details
Road Access
Yes
Amenities
Central Air, Electric
Electric, Heat Pump
Dishwasher, Disposal, Electric Range, Microwave
Driveway
Transitional
Building Details
Building Size
3,368 SF
Year Built
2023
Stories
3
Listing Agency:
Exp Realty, LLC
(704) 957-3990
Listed By:
Nancy Buckstad · License #194805
(704) 957-3990
Source:
Evrealestate
Added: Aug 8
Changed: Aug 10
Last Checked: Aug 11 at 7:59AM
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 Exp Realty, LLC
Investment Insights
Based on property information with market context.
Constructed in 2023, this duplex contains 3,368 square feet and is identified as units A and B. Interior features include central air, electric service, heat pumps, dishwashers, disposals, electric ranges, and microwaves. The property also includes a driveway and transitional exterior design elements.
The property is located at 511 N Hill Street in Dallas, North Carolina, within Gaston County. R-6 zoning applies to the site, and the recorded directions provide access from I-85 West via 321 North and local streets.
The property is located at 511 N Hill Street in Dallas, North Carolina, within Gaston County. R-6 zoning applies to the site, and the recorded directions provide access from I-85 West via 321 North and local streets.
Key Highlights
- Duplex with units identified as A and B
- 3,368 square feet of property size
- Built in 2023
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
$39,050
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
8.88%
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%
$781,000
$781.0K
Cap Rate 7%
$557,857
$557.9K
Cap Rate 9%
$433,889
$433.9K
Market Conditions
NOI Build-Up for 3,368 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
$60.6K $18.00/SF
− Vacancy
−$4.8K −$1.44/SF
EGI
$55.8K $16.56/SF
− OpEx
−$16.7K −$4.97/SF
NOI
$39.1K $11.59/SF
Area
Gaston County, NC
Vacancy
7.98%
Lease Rate
$18.00 /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%
$781,000
Cap Rate 7%
$557,857
Cap Rate 9%
$433,889
Alternative Uses
Best Use
Multifamily LT 5
$557.9K
$488.1K – $650.8K
NOI $39,050 @ 7.0% cap · market cap 8.88%
Second Best
Apartment 5plus
$509.0K
$445.4K – $593.9K
NOI $35,633 @ 7.0% cap · market cap 8.10%
Theoretical Best
Office A
$1.06M
$927.6K – $1.24M
NOI $74,204 @ 7.0% cap · market cap 16.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
285
Businesses Nearby
Explore this area
Business Placement
Demographics for 28034, NC
19,258
Population
8,085
Households
2.4
Avg Household Size
39
Median Age
16%
College-Educated
86%
High-School Grad
45.6 sq mi
ZIP Area
422
Density / Sq Mi
$59,969
Median Household Income
$42,804
Median Earnings
$841
Median Rent
$221,000
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-unit residential property with central air, heat pumps, and contemporary kitchen appliances.
Where is this duplex located?
The property is located at 511 N Hill Street A and B Dallas, NC.
What is the asking price?
The asking price for this property is $439,900.
What are key features of this property?
This property features: Duplex with units identified as A and B; 3,368 square feet of property size; Built in 2023
