Three-Story Modern
New
For Sale
$428,900
511 N Hill Street C And D, Dallas, NC 28034
Two residential units offer open layouts, contemporary finishes, and separate living arrangements for occupants or rental use.
Property Size3,319 SF
Price / SF$129.23
Days on Market3
Property Features for 511 N Hill Street C And D
General Information
Standard status
Active
Size
3,319 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
2023
Buildings
1
Stories
3
Listing Agency:
EXP Realty LLC Mooresville
Listed By:
Nancy Buckstad · License #194805
(704) 957-3990
Source:
Highperformancerea
Added: Sep 1
Last Checked: Sep 2 at 7:22PM
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 Mooresville
Investment Insights
Based on property information with market context.
Built in 2023, this duplex contains two residential units within a three-story configuration totaling 3,319 square feet. Both units use an open-concept arrangement with a great room, dining area, and kitchen on the main level. Granite countertops, stainless steel appliances, cabinetry, and luxury vinyl plank flooring are included throughout each unit.
The middle floor in each residence contains a primary suite with a bedroom, walk-in closet, and private bathroom with dual vanities. Two additional bedrooms and a shared full bathroom occupy the upper level. The property is located in Dallas with access to Highway 321 and I-85, connecting the property with Gastonia, Charlotte, and surrounding areas.
The middle floor in each residence contains a primary suite with a bedroom, walk-in closet, and private bathroom with dual vanities. Two additional bedrooms and a shared full bathroom occupy the upper level. The property is located in Dallas with access to Highway 321 and I-85, connecting the property with Gastonia, Charlotte, and surrounding areas.
Key Highlights
- Two‑unit duplex with 3,319 square feet across a three‑story design
- Built in 2023
- Each unit includes a main‑level great room, dining area, and kitchen
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
$38,482
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
8.97%
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%
$769,640
$769.6K
Cap Rate 7%
$549,743
$549.7K
Cap Rate 9%
$427,578
$427.6K
Market Conditions
NOI Build-Up for 3,319 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
$59.7K $18.00/SF
− Vacancy
−$4.8K −$1.44/SF
EGI
$55.0K $16.56/SF
− OpEx
−$16.5K −$4.97/SF
NOI
$38.5K $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%
$769,640
Cap Rate 7%
$549,743
Cap Rate 9%
$427,578
Alternative Uses
Best Use
Multifamily LT 5
$549.7K
$481.0K – $641.4K
NOI $38,482 @ 7.0% cap · market cap 8.97%
Second Best
Apartment 5plus
$501.6K
$438.9K – $585.2K
NOI $35,114 @ 7.0% cap · market cap 8.19%
Theoretical Best
Office A
$1.04M
$914.1K – $1.22M
NOI $73,124 @ 7.0% cap · market cap 17.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway 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 residential units offer open layouts, contemporary finishes, and separate living arrangements for occupants or rental use.
Where is this duplex located?
The property is located at 511 N Hill Street C And D Dallas, NC.
What is the asking price?
The asking price for this property is $428,900.
What are key features of this property?
This property features: Two‑unit duplex with 3,319 square feet across a three‑story design; Built in 2023; Each unit includes a main‑level great room, dining area, and kitchen
