Two-Unit
For Sale
$375,000
Pending
7537 Old Plank Rd, Stanley, NC 28164
Separate addresses support flexible owner-occupant or dual-tenant use.
Property Size1,877 SF
Days on Market42
Property Features for 7537 Old Plank Rd
General Information
Standard status
Pending
Size
1,877 SF
Property subtype
Residential Income
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
Real Broker, LLC
(704) 929-8312
Listed By:
Brad Cook
(704) 929-8312
Source:
Exprealty
Added: Jun 21
Changed: Jul 31
Last Checked: Jul 31 at 8:31PM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
This duplex includes two separate residential units under one roof with a combined 1,877 square feet. Unit 7537 offers 2 bedrooms, 1 bath, and 831 sq ft, while Unit 7539 provides 3 bedrooms, 2 baths, and 1,046 sq ft. The separate addresses are already established, supporting straightforward management and flexible occupancy arrangements.
Located in Stanley, the property offers access to Charlotte and the surrounding Gaston County area. The configuration supports leasing both units or occupying one unit while leasing the other, providing multiple ways to use the property as a residential income asset.
Located in Stanley, the property offers access to Charlotte and the surrounding Gaston County area. The configuration supports leasing both units or occupying one unit while leasing the other, providing multiple ways to use the property as a residential income asset.
Key Highlights
- Two‑unit duplex with 1,877 square feet combined
- Unit 7537 includes 2 bedrooms, 1 bath, and 831 sq ft
- Unit 7539 includes 3 bedrooms, 2 baths, and 1,046 sq ft
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 | $33.8k | $18.00 |
| − Vacancy | −$2.7k | −$1.44 |
| EGI | $31.1k | $16.56 |
| − OpEx | −$9.3k | −$4.97 |
| NOI | $21.8k | $11.59 |
1,877 SF · lease $18.00/SF/yr · vacancy 7.98% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$310.9K
$272.0K – $362.7K
NOI $21,763 @ 7.0% cap · market cap 5.80%
Second Best
Apartment 5plus
$283.7K
$248.2K – $331.0K
NOI $19,858 @ 7.0% cap · market cap 5.30%
Theoretical Best
Office A
$590.8K
$516.9K – $689.2K
NOI $41,354 @ 7.0% cap · market cap 11.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
26
Businesses Nearby
Explore this area
Business Placement
Demographics for 28164, NC
14,903
Population
6,387
Households
2.3
Avg Household Size
45
Median Age
24%
College-Educated
91%
High-School Grad
41.0 sq mi
ZIP Area
363
Density / Sq Mi
$82,661
Median Household Income
$51,238
Median Earnings
$1,161
Median Rent
$268,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Separate addresses support flexible owner-occupant or dual-tenant use.
Where is this duplex located?
The property is located at 7537 Old Plank Rd Stanley, NC.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,877 square feet combined; Unit 7537 includes 2 bedrooms, 1 bath, and 831 sq ft; Unit 7539 includes 3 bedrooms, 2 baths, and 1,046 sq ft
