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    Flat Rock Duplex Investment Opportunity Title is generated by Realmo AI

    544 Tracy Grove Road, Flat Rock, NC 28731

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    Claim this Listing
    For Sale
    $525,000

    MULTI_FAMILY - Ranch - Flat Rock, NC

    Type:Single Family Residence
    Property size:
    2,440 SF
    Lot size:
    0.86 Acres
    Price / SF:
    $215/SF
    Added:
    Jun 27, 2025
    Days on Market:
    327
    Last Refresh:
    May 19 at 1:06 pm

    Property Features for 544 Tracy Grove Road

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Single Family Residence
    Zoning
    R-1
    Bedrooms
    4
    Bathrooms
    4
    Rooms
    Bedroom 2, Laundry Room, Bathroom 4, Bedroom 1, Bedroom 3, Bathroom 2, Bathroom 3, Bedroom 4, Bathroom 1
    Parking features
    Driveway, Garage - Attached, Open
    Window features
    Insulated Windows, Window Treatments
    Patio and Porch features
    Porch
    Interior features
    Walk-In Closet(s)
    Exterior features
    Lawn Maintenance
    Appliances
    Dishwasher, Electric Range, Electric Water Heater, Refrigerator
    Standard status
    Active
    APN
    10013580
    Size
    2,440 SF
    Lot size
    0.86 Acres

    Taxes and HOA fees

    Tax Description
    Tract C Plat Slide 2025-16121

    Utilities

    Utilities
    Cable Available
    Heating system
    Central, Heat Pump (Heating)
    Cooling system
    Heat Pump, Central Air
    Water source
    Well

    Building Details

    Year built
    2011
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Laminate, Tile
    Building materials
    Vinyl
    Roof type
    Shingle
    Architectural style
    Ranch

    We can help!

    Listing Contact
    Jon Blatt

    Listing agent Jon Blatt

    Listing office So. Homes & Land/So. Commercial 303 S. Church St, Hendersonville, NC

    Listing date Jun 27, 2025

    MLS# 4275855 Listing URL

    Copyright © 2026 Canopy MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Strong rental history with leases in place into 2026, providing immediate income.
    • Up‑to‑date duplex configuration with two units, each featuring 2 bedrooms, 2 full baths, and a 2‑car garage.
    • Low‑maintenance exterior and separate power meters for each unit, reducing owner expenses.
    • Desirable great room floor plan and laundry room with hookups in each unit.
    • Durable tile and laminate flooring throughout.
    • Located in an area with county‑only taxes.

    Overview

    This property in Flat Rock, North Carolina, presents an investment opportunity with an up-to-date duplex home. The structure offers a total area of over 2,440 square feet and features tile and laminate flooring, kitchen appliances, heat pumps, and paved driveways. Each of the two units provides just over 1,220 square feet of living space, including 2 bedrooms, 2 full baths, and a 2-car garage. The layout incorporates a great room floor plan and a laundry room with hookups for a tenant-provided washer and dryer. The exterior is designed for low maintenance. Separate power meters are installed for each unit. The property is located on a lot of 0.86 acres and is subject to county-only taxes. The property is zoned R-1. The intended use of the property is for residential income. Longer-term tenants are in place with written leases into 2026; however, the left side tenant has given notice they will be vacating at the end of April, 2026, and the unit will be re-rented at that time.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Flat Rock
    County
    Henderson
    State
    North Carolina
    Longitude
    -82.4344058
    Latitude
    35.3210271

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    FAQs

    What type of property is this?
    Duplex - Up-to-date duplex with strong rental history and long-term tenants.
    Where is this duplex located?
    The property is located at 544 Tracy Grove Road Flat Rock, NC.
    What is the asking price?
    The asking price for this property is $525,000.
    What are key features of this property?
    This property features: Strong rental history with leases in place into 2026, providing immediate income.; Up‑to‑date duplex configuration with two units, each featuring 2 bedrooms, 2 full baths, and a 2‑car garage.; Low‑maintenance exterior and separate power meters for each unit, reducing owner expenses.
    (828) 388-1210
    We can help!
    Listing Contact
    Jon Blatt
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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