Renovated Duplex with Flexible
New
For Sale
$625,000
77 Trotter Place, Asheville, NC 28806
Two updated units offer separate living arrangements and potential rental use in Asheville’s West Asheville area.
Property Size1,050 SF
Lot Size0.34 Acres
Price / SF$297.62
Days on Market3
Property Features for 77 Trotter Place
General Information
Standard status
Active
Size
1,050 SF
Lot size
0.34 Acres
Property subtype
Duplex
Zoning
RM8
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/2BA
Multifamily Units
2
Amenities
Features: Wooded, Size: 0.34, Size Units: Acres
Description: Composition
Description: Partial
Flooring: Tile, Vinyl, Wood
Garage Spaces: 0, Man Level Garage: 0
Details: Ceiling Fan(s), Central Air, Ductless, Electric, Humidity Control, Multi Units
Heating: Central, Ductless, Electric, Heat Pump, Humidity Control
Description: Electric Dryer Hookup, In Basement, In Hall, In Unit, Inside, Laundry Closet, Lower Level, Main Level, Multiple Locations, Washer Hookup
Days on Market: 0, Listing Price: 625000, Status: Coming Soon-No Show
Elementary: Unspecified, Middle/Junior High: Unspecified, High School: Unspecified
Description: Apartment, Exterior Entry, Finished, Full, Walk-Out Access, Walk-Up Access
Total Bathrooms: 5
Finished Area Above Grade: 1050, Area: 2100, Building Area: 2100, Construction Materials: Block, Hardboard Siding, Year Built: 1957, Construction Type: Site Built
City: Asheville, State: NC, Zip: 28806, County: Buncombe, Subdivision: Horney Heights, Directions: Take Haywood Rd. in West Asheville to Sulphur Springs Rd. Take Sulphur Springs to Trotter Pl. Left on Trotter PL. 77 Trotter will be on your right about half way down.
Zoning: RM8
Full Bathrooms: 3, Half Bathrooms: 0
Sewer: Public Sewer, Water Source: City, Utilities: Cable Available, Electricity Connected
Description: Yes
Auction Y/N: 0
Patio Features: Front Porch, Patio, Porch, Rear Porch, Side Porch
Description: Dishwasher, Disposal, Dryer, Electric Range, Electric Water Heater, Exhaust Fan, Microwave, Oven, Refrigerator, Washer, Washer/Dryer
Building Details
Building Size
1,050 SF
Year Built
1957
Buildings
1
Listing Agency:
Patton Allen Real Estate LLC
(828) 348-1154
Listed By:
Jeramy Neugent
(619) 339-7930
Source:
Blackstreaminternational
Added: Sep 1
Changed: Sep 2
Last Checked: Sep 2 at 5:59PM
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 Patton Allen Real Estate LLC
Investment Insights
Based on property information with market context.
Located at 77 Trotter Place in Asheville, this 2,100-square-foot duplex includes an upper residence with 3 bedrooms and 1 bath, plus a lower unit with 2 bedrooms and 2 baths. The lower unit features high ceilings, while both units are supported by newer HVAC systems, newer water heaters, updated insulation, fresh flooring, newer siding, and a newer roof. Two washer and dryer sets are included.
The property occupies a 0.34-acre lot zoned RM8. A flag lot subdivision is pending city approval, and the source information also identifies potential for an ADU. Malvern Park is a few blocks away and includes tennis, pickleball, basketball, a playground, greenway access, and a pavilion; a future aquatic center is planned there. Haywood Road shops, restaurants, breweries, groceries, bars, coffee shops, and boutiques are within less than a mile.
The property occupies a 0.34-acre lot zoned RM8. A flag lot subdivision is pending city approval, and the source information also identifies potential for an ADU. Malvern Park is a few blocks away and includes tennis, pickleball, basketball, a playground, greenway access, and a pavilion; a future aquatic center is planned there. Haywood Road shops, restaurants, breweries, groceries, bars, coffee shops, and boutiques are within less than a mile.
Key Highlights
- 2,100‑square‑foot duplex with upper 3‑bedroom, 1‑bath unit and lower 2‑bedroom, 2‑bath unit
- 0.34‑acre lot zoned RM8
- Flag lot subdivision pending city approval; ADU potential identified
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
$23,603
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
3.78%
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%
$472,060
$472.1K
Cap Rate 7%
$337,186
$337.2K
Cap Rate 9%
$262,256
$262.3K
Market Conditions
NOI Build-Up for 2,100 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
$38.3K $18.24/SF
− Vacancy
−$4.6K −$2.18/SF
EGI
$33.7K $16.06/SF
− OpEx
−$10.1K −$4.82/SF
NOI
$23.6K $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%
$472,060
Cap Rate 7%
$337,186
Cap Rate 9%
$262,256
Alternative Uses
Best Use
Multifamily LT 5
$337.2K
$295.0K – $393.4K
NOI $23,603 @ 7.0% cap · market cap 3.78%
Second Best
Apartment 5plus
$292.5K
$255.9K – $341.2K
NOI $20,472 @ 7.0% cap · market cap 3.28%
Theoretical Best
Office A
$664.0K
$581.0K – $774.7K
NOI $46,483 @ 7.0% cap · market cap 7.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
593
Businesses Nearby
Explore this area
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
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 updated units offer separate living arrangements and potential rental use in Asheville’s West Asheville area.
Where is this duplex located?
The property is located at 77 Trotter Place Asheville, NC.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 2,100‑square‑foot duplex with upper 3‑bedroom, 1‑bath unit and lower 2‑bedroom, 2‑bath unit; 0.34‑acre lot zoned RM8; Flag lot subdivision pending city approval; ADU potential identified
