Furnished
For Sale
$649,000
71 And 73 Panorama Dr, Asheville, NC 28806
Both residences are furnished and currently tenant-occupied with leases in place.
Property Size2,860 SF
Price / SF$226.92
Days on Market51
Property Features for 71 And 73 Panorama Dr
General Information
Standard status
Active
Size
2,860 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Furnished
Yes
Multifamily Units
2
Building Details
Year Built
2019
Buildings
1
Tenancy
Multi
Listing Agency:
EXP Realty LLC
Listed By:
Mike Szabo
(239) 810-3155
Source:
Lewisandkirk
Added: Aug 30
Changed: Oct 6
Last Checked: Oct 7 at 3:52PM
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
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Investment Insights
Based on property information with market context.
Built in 2019, this 2,860-square-foot duplex includes two furnished residences. Each side offers two bedrooms and 2.5 bathrooms, creating matching layouts across the property. The building is described as well maintained and includes modern finishes with low maintenance requirements.
Both units are tenant-occupied with leases in place at market rates. The property is located at 71 And 73 Panorama Dr in Asheville, approximately 15 minutes from downtown Asheville, with access to dining, shopping, and outdoor recreation in a quiet residential setting.
Both units are tenant-occupied with leases in place at market rates. The property is located at 71 And 73 Panorama Dr in Asheville, approximately 15 minutes from downtown Asheville, with access to dining, shopping, and outdoor recreation in a quiet residential setting.
Key Highlights
- 2,860‑square‑foot duplex built in 2019
- Each side features 2 bedrooms and 2.5 bathrooms
- Both units are fully furnished
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,145
Cap Rate
4.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$642,900
$642.9K
Cap Rate 7%
$459,214
$459.2K
Cap Rate 9%
$357,167
$357.2K
Market Conditions
NOI Build-Up for 2,860 SF
Gross rent
$52.2K $18.24/SF
− Vacancy
−$6.2K −$2.18/SF
EGI
$45.9K $16.06/SF
− OpEx
−$13.8K −$4.82/SF
NOI
$32.1K $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 Rate 5%
$642,900
Cap Rate 7%
$459,214
Cap Rate 9%
$357,167
Alternative Uses
Best Use
Multifamily LT 5
$459.2K
$401.8K – $535.8K
NOI $32,145 @ 7.0% cap · market cap 4.95%
Second Best
Apartment 5plus
$398.3K
$348.5K – $464.7K
NOI $27,881 @ 7.0% cap · market cap 4.30%
Theoretical Best
Office A
$904.4K
$791.3K – $1.06M
NOI $63,306 @ 7.0% cap · market cap 9.75%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
38
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
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are furnished and currently tenant-occupied with leases in place.
Where is this duplex located?
The property is located at 71 And 73 Panorama Dr Asheville, NC.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: 2,860‑square‑foot duplex built in 2019; Each side features 2 bedrooms and 2.5 bathrooms; Both units are fully furnished
