Side-by-Side Duplex
701 2nd Street Place Southwest Conover, NC 28613
701 2nd Street Place Southwest, Conover, NC, 28613
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For Sale
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Two newly constructed side-by-side duplexes offer four total residential units on adjacent parcels.
Property Size3,672 SF
Price / SF$204.25
Days on Market42
Property Features for 701 2nd Street Place Southwest
General Information
- Standard status
- Active
- Size
- 3,672 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 2026
Listing agency
Gladysh Realty
Listed by
Viktoriya Gladysh · License #342929
Source
Crexi
Added: Jun 10 Updated: Jul 21 at 7:12AM Checked: Jul 21 at 7:12AM
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 Gladysh Realty
Investment Insights
Based on property information with market context.
This offering includes two newly constructed duplexes positioned side-by-side, providing four total residential units across adjacent parcels. The properties are presented as low-maintenance multifamily investments with modern construction and rental-oriented floor plans.
The duplexes are located at 701-703 2nd St Pl SW and 707-709 2nd St Pl SW in Conover, North Carolina. The location is described as just minutes from Downtown Conover, Interstate 40, US-70, and nearby shopping, dining, and major employment centers, with access to the greater Hickory Metro area.
As a combined portfolio, the configuration supports straightforward management across four units within the same contiguous acquisition footprint.
The duplexes are located at 701-703 2nd St Pl SW and 707-709 2nd St Pl SW in Conover, North Carolina. The location is described as just minutes from Downtown Conover, Interstate 40, US-70, and nearby shopping, dining, and major employment centers, with access to the greater Hickory Metro area.
As a combined portfolio, the configuration supports straightforward management across four units within the same contiguous acquisition footprint.
Key Highlights
- Two newly constructed side‑by‑side duplexes in Conover, NC (4 total residential units).
- Located at 701–703 2nd St Pl SW and 707–709 2nd St Pl SW on adjacent parcels for simplified management.
- Year built 2026 with modern construction and low‑maintenance exteriors.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $50.7k | $13.80 |
| − Vacancy | −$3.3k | −$0.90 |
| EGI | $47.4k | $12.90 |
| − OpEx | −$14.2k | −$3.87 |
| NOI | $33.2k | $9.03 |
3,672 SF · lease $13.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$473.8K
$414.6K – $552.8K
NOI $33,166 @ 7.0% cap · market cap 4.42%
Second Best
Apartment 5plus
$440.3K
$385.3K – $513.7K
NOI $30,820 @ 7.0% cap · market cap 4.11%
Theoretical Best
Office A
$1.07M
$938.6K – $1.25M
NOI $75,085 @ 7.0% cap · market cap 10.01%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two newly constructed side-by-side duplexes offer four total residential units on adjacent parcels.
Where is this duplex located?
The property is located at 701 2nd Street Place Southwest Conover, NC.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Two newly constructed side‑by‑side duplexes in Conover, NC (4 total residential units).; Located at 701–703 2nd St Pl SW and 707–709 2nd St Pl SW on adjacent parcels for simplified management.; Year built 2026 with modern construction and low‑maintenance exteriors.
