Single-Level Duplex with Two
For Sale
$445,000
575 Sand Hill Rd, Asheville, NC 28806
Slab construction and zero-stair entry provide practical access across the two residential units.
Property Size1,800 SF
Price / SF$247.22
Days on Market11
Property Features for 575 Sand Hill Rd
General Information
Standard status
Active
Size
1,800 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1982
Listing Agency:
RE/MAX Executive
Listed By:
Alexandra Schrank · License #284025
(828) 782-1957
Source:
Lewisandkirk
Added: Sep 9
Changed: Sep 10
Last Checked: Sep 19 at 11:07AM
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 RE/MAX Executive
Investment Insights
Based on property information with market context.
Built in 1982, this 1,800-square-foot duplex contains two matching residential units on a slab foundation with zero-stair entry. Unit B is vacant, recently cleaned and painted, and ready for showings. Unit A has been occupied by the same tenant for approximately 20 years, with a scheduled move creating flexibility for the next owner to occupy, lease, or update the unit. New water lines have been installed, and the property has no reported history of flooding.
The property is located in West Asheville at 575 Sand Hill Road, with access to dining, shopping, and commuter routes. The lot may accommodate an additional structure, garage, or apartment, subject to buyer verification. The duplex configuration can support continued rental use, owner occupancy, or living arrangements involving multiple generations, as directly supported by the existing two-unit layout.
The property is located in West Asheville at 575 Sand Hill Road, with access to dining, shopping, and commuter routes. The lot may accommodate an additional structure, garage, or apartment, subject to buyer verification. The duplex configuration can support continued rental use, owner occupancy, or living arrangements involving multiple generations, as directly supported by the existing two-unit layout.
Key Highlights
- 1800 square feet with two matching residential units
- Built in 1982 on a slab foundation with zero‑stair entry
- Unit B is vacant, cleaned, painted, and available for showings
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
$20,231
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
4.55%
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%
$404,620
$404.6K
Cap Rate 7%
$289,014
$289.0K
Cap Rate 9%
$224,789
$224.8K
Market Conditions
NOI Build-Up for 1,800 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
$32.8K $18.24/SF
− Vacancy
−$3.9K −$2.18/SF
EGI
$28.9K $16.06/SF
− OpEx
−$8.7K −$4.82/SF
NOI
$20.2K $11.24/SF
Area
Buncombe County, NC
Vacancy
11.97%
Lease Rate
$18.24 /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%
$404,620
Cap Rate 7%
$289,014
Cap Rate 9%
$224,789
Alternative Uses
Best Use
Multifamily LT 5
$289.0K
$252.9K – $337.2K
NOI $20,231 @ 7.0% cap · market cap 4.55%
Second Best
Apartment 5plus
$250.7K
$219.3K – $292.5K
NOI $17,547 @ 7.0% cap · market cap 3.94%
Theoretical Best
Office A
$569.2K
$498.0K – $664.1K
NOI $39,843 @ 7.0% cap · market cap 8.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
206
Businesses Nearby
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Business Placement
Demographics for 28806, NC
44,621
Population
21,185
Households
2.1
Avg Household Size
37
Median Age
45%
College-Educated
91%
High-School Grad
38.1 sq mi
ZIP Area
1,171
Density / Sq Mi
$59,925
Median Household Income
$37,743
Median Earnings
$1,224
Median Rent
$335,800
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 - Slab construction and zero-stair entry provide practical access across the two residential units.
Where is this duplex located?
The property is located at 575 Sand Hill Rd Asheville, NC.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: 1800 square feet with two matching residential units; Built in 1982 on a slab foundation with zero‑stair entry; Unit B is vacant, cleaned, painted, and available for showings
