Tenant-Occupied Duplex For
For Sale
$425,000
5729 Brickstone Drive, Charlotte, NC 28227
Well-maintained duplex with one tenant-occupied unit and an updated second unit ready for new occupancy.
Property Size2,884 SF
Price / SF$147.36
Days on Market24
Property Features for 5729 Brickstone Drive
General Information
Standard status
Active
Size
2,884 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Amenities
Size: 0.33, Size Units: Acres
Description: Architectural Shingle
Man Level Garage: 0
Details: Central Air
Heating: Central
Description: Laundry Closet
Days on Market: 14, Listing Price: 425000, Status: Active
Elementary: Unspecified, Middle/Junior High: Unspecified, High School: Unspecified
Total Bathrooms: 6
Finished Area Above Grade: 2884, Area: 2884, Building Area: 2884, Construction Materials: Wood, Year Built: 1987, Construction Type: Site Built
City: Charlotte, State: NC, Zip: 28227, County: Mecklenburg, Subdivision: None, Directions: Head north on N Tryon Street (US-29 N) toward I-277. Merge onto I-277 N / US-16 N. Take the exit for I-77 North toward Statesville. Continue on I-77 North for approximately 4 miles. Take the appropriate exit toward the neighborhood where Bickstone Drive is located (the exact exit depends on the cross street). Follow local roads to 5729 Bickstone Drive
Zoning: R
Full Bathrooms: 4, Half Bathrooms: 2
Sewer: Public Sewer, Water Source: City
Description: No
Auction Y/N: 0
Description: Dishwasher, Electric Range, Refrigerator
Building Details
Building Size
2,884 SF
Year Built
1987
Tenancy
Multi
Listing Agency:
Mark Spain Real Estate
(704) 400-7748
Listed By:
Erica Strong
(704) 400-7748
Source:
Blackstreaminternational
Added: Jul 17
Changed: Aug 8
Last Checked: Aug 9 at 4:40AM
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 Mark Spain Real Estate
Investment Insights
Based on property information with market context.
This well-maintained duplex offers two separate units, including one unit that is currently tenant-occupied and producing immediate rental income. The second side has been thoughtfully updated and presents a move-in-ready, refreshed interior for a new tenant or an owner-occupant.
The property is located at 5729 Brickstone Drive in Charlotte, NC 28227. The current configuration supports straightforward occupancy planning given the mix of tenant-occupied and updated space.
As a residential income property, the duplex provides two units under one ownership structure, with recent updates concentrated on one side to support leasing and occupancy flexibility.
The property is located at 5729 Brickstone Drive in Charlotte, NC 28227. The current configuration supports straightforward occupancy planning given the mix of tenant-occupied and updated space.
As a residential income property, the duplex provides two units under one ownership structure, with recent updates concentrated on one side to support leasing and occupancy flexibility.
Key Highlights
- Duplex built in 1987
- One unit is currently tenant‑occupied, providing immediate rental income
- Second unit has been updated and is ready for new occupancy
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$33,216
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.82%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$664,320
$664.3K
Cap Rate 7%
$474,514
$474.5K
Cap Rate 9%
$369,067
$369.1K
Market Conditions
NOI Build-Up for 2,884 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$51.6K $17.88/SF
− Vacancy
−$4.1K −$1.43/SF
EGI
$47.5K $16.45/SF
− OpEx
−$14.2K −$4.94/SF
NOI
$33.2K $11.52/SF
Area
ZIP 28227
Vacancy
7.98%
Lease Rate
$17.88 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$664,320
Cap Rate 7%
$474,514
Cap Rate 9%
$369,067
Alternative Uses
Best Use
Multifamily LT 5
$474.5K
$415.2K – $553.6K
NOI $33,216 @ 7.0% cap · market cap 7.82%
Second Best
Apartment 5plus
$435.9K
$381.4K – $508.5K
NOI $30,512 @ 7.0% cap · market cap 7.18%
Theoretical Best
Office A
$1.03M
$899.1K – $1.20M
NOI $71,928 @ 7.0% cap · market cap 16.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
140
Businesses Nearby
Explore this area
Business Placement
Demographics for 28227, NC
57,126
Population
23,179
Households
2.5
Avg Household Size
38
Median Age
30%
College-Educated
87%
High-School Grad
40.2 sq mi
ZIP Area
1,421
Density / Sq Mi
$75,322
Median Household Income
$41,742
Median Earnings
$1,412
Median Rent
$313,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained duplex with one tenant-occupied unit and an updated second unit ready for new occupancy.
Where is this duplex located?
The property is located at 5729 Brickstone Drive Charlotte, NC.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Duplex built in 1987; One unit is currently tenant‑occupied, providing immediate rental income; Second unit has been updated and is ready for new occupancy
