Two-Unit Duplex
For Sale
$249,900
537 & 539 Broadway Ct, Statesville, NC 28677
Both residences are leased month to month and feature matching two-bedroom, one-bathroom layouts.
Property Size1,590 SF
Price / SF$157.17
Days on Market79
Property Features for 537 & 539 Broadway Ct
General Information
Standard status
Active
Size
1,590 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1950
Listing Agency:
Keller Williams Unified
Listed By:
Jamie Gentry
(336) 283-8691
Source:
Highperformancerea
Added: Jul 29
Changed: Oct 9
Last Checked: Oct 7 at 4:58PM
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 Keller Williams Unified
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Investment Insights
Based on property information with market context.
This 1,590-square-foot duplex, built in 1950, contains two residential units with matching two-bedroom, one-bathroom configurations. The property is set up for separate occupancy, with both residences currently leased on a month-to-month basis.
Located at 537 & 539 Broadway Ct in Statesville, North Carolina, the property offers an established two-unit configuration with current tenancy in place. The arrangement provides flexibility associated with month-to-month leases while preserving the existing residential layout.
Located at 537 & 539 Broadway Ct in Statesville, North Carolina, the property offers an established two-unit configuration with current tenancy in place. The arrangement provides flexibility associated with month-to-month leases while preserving the existing residential layout.
Key Highlights
- Two residential units, each with 2 bedrooms and 1 bathroom
- Both units currently leased on a month‑to‑month basis
- 1,590 square feet of property size
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,648
Cap Rate
6.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$312,960
$313.0K
Cap Rate 7%
$223,543
$223.5K
Cap Rate 9%
$173,867
$173.9K
Market Conditions
NOI Build-Up for 1,590 SF
Gross rent
$23.5K $14.76/SF
− Vacancy
−$1.1K −$0.70/SF
EGI
$22.4K $14.06/SF
− OpEx
−$6.7K −$4.22/SF
NOI
$15.6K $9.84/SF
Area
Iredell County, NC
Vacancy
4.75%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$312,960
Cap Rate 7%
$223,543
Cap Rate 9%
$173,867
Alternative Uses
Best Use
Multifamily LT 5
$223.5K
$195.6K – $260.8K
NOI $15,648 @ 7.0% cap · market cap 6.26%
Second Best
Apartment 5plus
$206.5K
$180.7K – $240.9K
NOI $14,455 @ 7.0% cap · market cap 5.78%
Theoretical Best
Office A
$500.4K
$437.9K – $583.9K
NOI $35,031 @ 7.0% cap · market cap 14.02%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
983
Businesses Nearby
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Business Placement
Demographics for 28677, NC
35,926
Population
16,096
Households
2.2
Avg Household Size
41
Median Age
22%
College-Educated
85%
High-School Grad
83.0 sq mi
ZIP Area
433
Density / Sq Mi
$59,081
Median Household Income
$34,684
Median Earnings
$861
Median Rent
$207,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are leased month to month and feature matching two-bedroom, one-bathroom layouts.
Where is this duplex located?
The property is located at 537 & 539 Broadway Ct Statesville, NC.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Two residential units, each with 2 bedrooms and 1 bathroom; Both units currently leased on a month‑to‑month basis; 1,590 square feet of property size
