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
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.
How Realmo checks its estimates
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
983
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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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?
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
