Two-Unit Duplex on
For Sale
$547,999
540 Duncan Creek Road, Fletcher, NC 28732
Separate living spaces, pasture, and a spring-fed pond support flexible residential use.
Property Size2,818 SF
Lot Size5.10 Acres
Price / SF$194.46
Days on Market92
Property Features for 540 Duncan Creek Road
General Information
Standard status
Active
Size
2,818 SF
Lot size
5.10 Acres
Property subtype
Duplex
Zoning
R2R
Units
Unit Mix
1 x 2BR/2BA, 1 x 2BR/1.5BA
Multifamily Units
2
Amenities
fenced pastureland
spring-fed pond
Building Details
Building Size
2,818 SF
Year Built
1964
Listing Agency:
Mountain Real Estate Rocks
Listed By:
Donna Hodges
(828) 508-6112
Source:
Mountainrealestaterocks
Added: Aug 3
Changed: Nov 2
Last Checked: Oct 29 at 2:36PM
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 Mountain Real Estate Rocks
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Investment Insights
Based on property information with market context.
This duplex contains two residences totaling 2,818 square feet on a 5.1-acre parcel. The one-story unit has 1,195 square feet, two bedrooms, and two bathrooms; the two-story unit offers 1,625 square feet, two bedrooms, and one-and-a-half bathrooms. The mostly cleared property includes fenced pasture and a spring-fed pond. Improvements include a replacement roof and gutters, structural work, crawlspace encapsulation, a new well pump and pressure tank, fencing, and resurfaced road areas.
The property is between Asheville and Hendersonville, is zoned R2R, and is identified as outside a flood zone. No deed or rental restrictions are stated. Rental history is documented, and the property may be sold furnished and equipped for continued use.
The property is between Asheville and Hendersonville, is zoned R2R, and is identified as outside a flood zone. No deed or rental restrictions are stated. Rental history is documented, and the property may be sold furnished and equipped for continued use.
Key Highlights
- Two residences totaling 2,818 square feet
- 5.1 acres, mostly cleared, with fenced pasture
- One‑story unit: 1,195 square feet, 2 bedrooms, 2 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,316
Cap Rate
4.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$506,320
$506.3K
Cap Rate 7%
$361,657
$361.7K
Cap Rate 9%
$281,289
$281.3K
Market Conditions
NOI Build-Up for 2,818 SF
Gross rent
$42.3K $15.00/SF
− Vacancy
−$6.1K −$2.17/SF
EGI
$36.2K $12.83/SF
− OpEx
−$10.8K −$3.85/SF
NOI
$25.3K $8.98/SF
Area
Henderson County, NC
Vacancy
14.44%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$506,320
Cap Rate 7%
$361,657
Cap Rate 9%
$281,289
Alternative Uses
Best Use
Multifamily LT 5
$361.7K
$316.5K – $421.9K
NOI $25,316 @ 7.0% cap · market cap 4.62%
Second Best
Apartment 5plus
$319.9K
$280.0K – $373.3K
NOI $22,396 @ 7.0% cap · market cap 4.09%
Theoretical Best
Office A
$939.1K
$821.7K – $1.10M
NOI $65,738 @ 7.0% cap · market cap 12.00%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
15
Businesses Nearby
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Business Placement
Demographics for 28732, NC
19,158
Population
8,181
Households
2.3
Avg Household Size
43
Median Age
40%
College-Educated
93%
High-School Grad
41.3 sq mi
ZIP Area
464
Density / Sq Mi
$79,451
Median Household Income
$41,748
Median Earnings
$1,206
Median Rent
$341,900
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 - Separate living spaces, pasture, and a spring-fed pond support flexible residential use.
Where is this duplex located?
The property is located at 540 Duncan Creek Road Fletcher, NC.
What is the asking price?
The asking price for this property is $547,999.
What are key features of this property?
This property features: Two residences totaling 2,818 square feet; 5.1 acres, mostly cleared, with fenced pasture; One‑story unit: 1,195 square feet, 2 bedrooms, 2 bathrooms
