3-Unit
For Sale
$890,000
512 516 520 Carolyn Lane, Charlotte, NC 28213
Each residence places the great room and dining area downstairs, with bedrooms and laundry on the upper level.
Property Size2,026 SF
Price / SF$219.59
Days on Market9
Property Features for 512 516 520 Carolyn Lane
General Information
Standard status
Active
Size
2,026 SF
Property subtype
Triplex
Additional Details
Multifamily Units
3
Amenities
Cleared
Composition
Insulated Door(s)
Public Sewer
Additional parcels description:, Parcel Number: 049-242-37, Assessed Value: $31,600
Vinyl
1 space
Central Air, Electric, Heat Pump
Central, Electric, Heat Pump
Electric Dryer Hookup, Laundry Room, Upper Level, Washer Hookup
Listing ID: CAR4427786, Standard Status: Active, MLS Status: Active, Property Subtype: Triplex, 1 day on market, Special Conditions: None
2 open parking spaces, Other Parking: 1 single car garage and driveway per unit, Driveway, Attached Garage
Elementary School: Newell, Middle School: Martin Luther King Jr, High School: Julius L. Chambers
Insulated Window(s)
3 total bedrooms
Built in 2026, Living area: 4053, Construction Materials: Vinyl
County/Parish: Mecklenburg
2 full bathrooms, 1 half bathroom
Electricity Connected, Water Source: City
Slab
All Utilities
Allowed: Yes
Road Responsibility: Publicly Maintained Road, Road Surface: Concrete, Paved
Patio/Porch Features: Covered, Front Porch, Patio, Storage
Attic Other, Breakfast Bar, Entrance Foyer, Kitchen Island, Open Floorplan, Pantry, Walk-In Closet(s)
Carbon Monoxide Detector(s), Smoke Detector(s)
Dishwasher, Microwave, Oven, Refrigerator, Refrigerator with Ice Maker, Self Cleaning Oven
Building Details
Building Size
2,026 SF
Year Built
2026
Listing Agency:
RE/MAX Executive
(803) 578-7989
Listed By:
Cherie Burris · License #236844
(803) 370-2426
Source:
Blackstreaminternational
Added: Sep 23
Changed: Sep 30
Last Checked: Sep 30 at 12:23PM
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 RE/MAX Executive
Investment Insights
Based on property information with market context.
This 2026-built triplex contains three residences totaling 4,053 square feet. Each unit has three bedrooms, a great room, a dining area, and a kitchen with an island, pantry, white cabinetry, countertops, and stainless steel appliances. LVP flooring runs throughout. A half bath is located on the main floor; upstairs, the primary suite includes a walk-in closet and private bath, while two additional bedrooms share a full bath. Each unit also has an upstairs laundry room with wire shelving, a concrete patio, and an exterior storage closet.
The property at 512, 516, and 520 Carolyn Ln in Charlotte is described as minutes from UNCC, IKEA, and 485.
The property at 512, 516, and 520 Carolyn Ln in Charlotte is described as minutes from UNCC, IKEA, and 485.
Key Highlights
- Three‑unit property with 4,053 square feet, built in 2026
- Each unit has three bedrooms, two full baths, and a main‑level half bath
- Kitchen in each residence includes an island, pantry, white cabinets, and stainless steel appliances
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
$53,254
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
5.98%
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%
$1,065,080
$1.1M
Cap Rate 7%
$760,771
$760.8K
Cap Rate 9%
$591,711
$591.7K
Market Conditions
NOI Build-Up for 4,053 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
$80.2K $19.80/SF
− Vacancy
−$4.2K −$1.03/SF
EGI
$76.1K $18.77/SF
− OpEx
−$22.8K −$5.63/SF
NOI
$53.3K $13.14/SF
Area
Charlotte, NC
Vacancy
5.20%
Lease Rate
$19.80 /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%
$1,065,080
Cap Rate 7%
$760,771
Cap Rate 9%
$591,711
Alternative Uses
Best Use
Multifamily LT 5
$760.8K
$665.7K – $887.6K
NOI $53,254 @ 7.0% cap · market cap 5.98%
Second Best
Apartment 5plus
$700.6K
$613.0K – $817.3K
NOI $49,040 @ 7.0% cap · market cap 5.51%
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,476 @ 7.0% cap · market cap 10.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
495
Businesses Nearby
Explore this area
Business Placement
Demographics for 28213, NC
47,215
Population
20,484
Households
2.3
Avg Household Size
31
Median Age
34%
College-Educated
86%
High-School Grad
14.2 sq mi
ZIP Area
3,325
Density / Sq Mi
$55,612
Median Household Income
$39,704
Median Earnings
$1,341
Median Rent
$251,700
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?
Triplex - Each residence places the great room and dining area downstairs, with bedrooms and laundry on the upper level.
Where is this triplex located?
The property is located at 512 516 520 Carolyn Lane Charlotte, NC.
What is the asking price?
The asking price for this property is $890,000.
What are key features of this property?
This property features: Three‑unit property with 4,053 square feet, built in 2026; Each unit has three bedrooms, two full baths, and a main‑level half bath; Kitchen in each residence includes an island, pantry, white cabinets, and stainless steel appliances
