New Construction Ranch
For Sale
$650,000
6016/6020 Paw Creek Road, Charlotte, NC 28214
Two-unit residence with upgraded finishes, private fenced yards, and separately metered utilities near Uptown Charlotte.
Property Size2,424 SF
Price / SF$268.15
Days on Market154
Property Features for 6016/6020 Paw Creek Road
General Information
Standard status
Active
Size
2,424 SF
Total Parking Spaces
6
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Amenities
washer
dryer
refrigerator
blinds
fenced backyard
No
6
Insulated Window(s)
Electric Dryer Hookup,Main Level,Washer Hookup
2424
City
Insulated Door(s)
0.19
Driveway
Concrete,Paved
Slab
Publicly Maintained Road
Building Details
Building Size
2,424 SF
Year Built
2026
Buildings
1
Stories
1
Construction
ranch style
Listing Agency:
EXP Realty LLC Ballantyne
(864) 420-1017
Listed By:
Diane Maxwell
(864) 420-1017
Source:
Cdanjoyner
Added: Mar 16
Changed: Aug 16
Last Checked: Aug 16 at 3:28AM
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 EXP Realty LLC Ballantyne
Investment Insights
Based on property information with market context.
This new-construction ranch-style duplex contains 2,424 square feet with two separately configured residences. Each side offers three bedrooms, two bathrooms, an open living arrangement, 9' ceilings, a primary suite with walk-in closet and ensuite bath, and a dual vanity. Interior selections include quartz countertops, white shaker cabinetry, tiled backsplashes, luxury vinyl plank flooring, Pella windows and doors, stainless steel appliances, and Moen fixtures. Washer and dryer connections are provided, with a package that also includes a refrigerator, blinds, and fencing.
Each unit has a private backyard enclosed by a 6' wood privacy fence. The property is served by a publicly maintained road and includes a paved concrete driveway. Utilities are individually metered, and the property has no HOA or rental restrictions. Located at 6016/6020 Paw Creek Road in Charlotte, the duplex is positioned minutes from Uptown Charlotte, with 4 month delivery upon contract.
Each unit has a private backyard enclosed by a 6' wood privacy fence. The property is served by a publicly maintained road and includes a paved concrete driveway. Utilities are individually metered, and the property has no HOA or rental restrictions. Located at 6016/6020 Paw Creek Road in Charlotte, the duplex is positioned minutes from Uptown Charlotte, with 4 month delivery upon contract.
Key Highlights
- 2,424‑square‑foot duplex with two 3‑bedroom, 2‑bath units
- New construction with 2026 completion and 4 month delivery upon contract
- 9' ceilings, quartz countertops, shaker cabinets, and luxury vinyl plank flooring
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
$31,850
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
4.90%
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%
$637,000
$637.0K
Cap Rate 7%
$455,000
$455.0K
Cap Rate 9%
$353,889
$353.9K
Market Conditions
NOI Build-Up for 2,424 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
$48.0K $19.80/SF
− Vacancy
−$2.5K −$1.03/SF
EGI
$45.5K $18.77/SF
− OpEx
−$13.6K −$5.63/SF
NOI
$31.8K $13.14/SF
Area
Charlotte, NC
Vacancy
5.20%
Lease Rate
$19.80 /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%
$637,000
Cap Rate 7%
$455,000
Cap Rate 9%
$353,889
Alternative Uses
Best Use
Multifamily LT 5
$455.0K
$398.1K – $530.8K
NOI $31,850 @ 7.0% cap · market cap 4.90%
Second Best
Apartment 5plus
$419.0K
$366.6K – $488.8K
NOI $29,330 @ 7.0% cap · market cap 4.51%
Theoretical Best
Office A
$807.2K
$706.3K – $941.7K
NOI $56,504 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
74
Businesses Nearby
Explore this area
Business Placement
Demographics for 28214, NC
42,925
Population
15,896
Households
2.7
Avg Household Size
36
Median Age
36%
College-Educated
90%
High-School Grad
33.9 sq mi
ZIP Area
1,266
Density / Sq Mi
$83,618
Median Household Income
$43,104
Median Earnings
$1,570
Median Rent
$258,400
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 - Two-unit residence with upgraded finishes, private fenced yards, and separately metered utilities near Uptown Charlotte.
Where is this duplex located?
The property is located at 6016/6020 Paw Creek Road Charlotte, NC.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 2,424‑square‑foot duplex with two 3‑bedroom, 2‑bath units; New construction with 2026 completion and 4 month delivery upon contract; 9' ceilings, quartz countertops, shaker cabinets, and luxury vinyl plank flooring
