Updated Multifamily Property with Guest
For Sale
$399,000
526 Kentwood St SW, Lenoir, NC 28645
Remodeled Craftsman-style residence with a second living quarter, upgraded systems, and flexible residential use.
Property Size2,550 SF
Price / SF$156.47
Days on Market61
Property Features for 526 Kentwood St SW
General Information
Standard status
Active
Size
2,550 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR
Multifamily Units
2
Building Details
Year Built
1966
Buildings
2
Construction
Craftsman-style
Listing Agency:
Mountainside Realty, LLC
Listed By:
Donna Daughenbaugh Phillips
(828) 729-5959
Source:
Highperformancerea
Added: Aug 15
Changed: Oct 10
Last Checked: Oct 7 at 4:51PM
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 Mountainside Realty, LLC
Investment Insights
Based on property information with market context.
Built in 1966, this 2,550-square-foot Craftsman-style multifamily property combines a three-bedroom, two-bath main residence with a rebuilt two-bedroom guest house. The primary home features refinished hardwood floors, living and dining rooms, a fireplace, private deck, updated kitchen finishes, stainless steel appliances, original built-in cabinetry, a front porch, laundry area, and storage off the mudroom. A curved hardwood staircase connects the main level to the upper bedrooms and bath.
The guest house provides a separate second living quarter with its own kitchen, living area, fireplace mantel, full bath, laundry room, and walk-in closet. Major improvements include a new central AC unit, new coils in the gas furnace, and updated electrical and plumbing systems. The property is located at 526 Kentwood St SW in Lenoir, North Carolina, and offers two residential components on one lot.
The guest house provides a separate second living quarter with its own kitchen, living area, fireplace mantel, full bath, laundry room, and walk-in closet. Major improvements include a new central AC unit, new coils in the gas furnace, and updated electrical and plumbing systems. The property is located at 526 Kentwood St SW in Lenoir, North Carolina, and offers two residential components on one lot.
Key Highlights
- 2,550‑square‑foot multifamily property built in 1966
- Main residence includes 3 bedrooms and 2 full baths
- Rebuilt 2‑bedroom guest house with kitchen, bath, laundry, and walk‑in closet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,624
Cap Rate
4.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$352,480
$352.5K
Cap Rate 7%
$251,771
$251.8K
Cap Rate 9%
$195,822
$195.8K
Market Conditions
NOI Build-Up for 2,550 SF
Gross rent
$34.3K $13.44/SF
− Vacancy
−$2.2K −$0.87/SF
EGI
$32.0K $12.57/SF
− OpEx
−$14.4K −$5.65/SF
NOI
$17.6K $6.91/SF
Area
Caldwell County, NC
Vacancy
6.50%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$352,480
Cap Rate 7%
$251,771
Cap Rate 9%
$195,822
Alternative Uses
Best Use
Apartment 5plus
$251.8K
$220.3K – $293.7K
NOI $17,624 @ 7.0% cap · market cap 4.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$581.9K
$509.2K – $678.9K
NOI $40,735 @ 7.0% cap · market cap 10.21%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
773
Businesses Nearby
Explore this area
Business Placement
Demographics for 28645, NC
46,004
Population
21,558
Households
2.1
Avg Household Size
45
Median Age
17%
College-Educated
82%
High-School Grad
329.1 sq mi
ZIP Area
140
Density / Sq Mi
$50,529
Median Household Income
$34,526
Median Earnings
$726
Median Rent
$157,800
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?
Multifamily property - Remodeled Craftsman-style residence with a second living quarter, upgraded systems, and flexible residential use.
Where is this multifamily property located?
The property is located at 526 Kentwood St SW Lenoir, NC.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 2,550‑square‑foot multifamily property built in 1966; Main residence includes 3 bedrooms and 2 full baths; Rebuilt 2‑bedroom guest house with kitchen, bath, laundry, and walk‑in closet
