Brick Duplex With Private
8051 S Way Road, Charlotte, NC 28215
For Sale
$499,000
Two rental units feature updated baths, carpet-free interiors, and separate driveways for convenient access.
Property Size1,979 SF
Lot Size0.53 Acres
Price / SF$259.36
Days on Market65
Property Features for 8051 S Way Road
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Amenities
Dimensions: 96 'x 233' x 101'x 236', Corner Lot, Level
Public Sewer
Additional parcels description:, Parcel Number: 107-052-10, Assessed Value: $283,400
Tile, Laminate
Central Air
Electric
In Kitchen
Listing ID: CAR4420821, Standard Status: Active, MLS Status: Active, Property Subtype: Duplex, 6 days on market, Special Conditions: None
4 open parking spaces, Driveway
Elementary School: Berryhill, Middle School: Unspecified, High School: West Mecklenburg
4 total bedrooms
Built in 1979, Living area: 1924, Construction Materials: Brick Full
Subdivision: King Acres, County/Parish: Mecklenburg
Other structures: Other - See Remarks
2 full bathrooms
Water Source: City
Crawl Space
Allowed: Yes
All Utilities
Road Responsibility: Publicly Maintained Road, Road Surface: Concrete, Paved
Dishwasher, Electric Range, Gas Water Heater, Refrigerator
Building Details
Building Size
Year Built
Buildings
Construction
Listing Agency:
Keller Williams Ballantyne Area
(704) 887-6600
Listed By:
Jay White · License #246190
(704) 654-0733
Source:
Blackstreaminternational
Added: Sep 4
Changed: Nov 6
Last Checked: Nov 6 at 9:21AM
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 Keller Williams Ballantyne Area
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Investment Insights
Based on property information with market context.
This 1,924-square-foot brick duplex, built in 1979, includes two 2BR/1BA units. Each side has an updated bathroom, no carpet, and a private driveway. The property occupies a 0.53-acre corner lot and offers separate access to the units. One unit is currently leased through July 2027.
The property is minutes from Reedy Creek Nature Preserve and close to WT Harris Blvd. UNC Charlotte is approximately 10 minutes away, while NoDa is approximately 15 minutes away. Showings for the unit at 8051 South Way are restricted until the buyer is under contract; the other unit is accessed from 8001 Linda Lake.
The property is minutes from Reedy Creek Nature Preserve and close to WT Harris Blvd. UNC Charlotte is approximately 10 minutes away, while NoDa is approximately 15 minutes away. Showings for the unit at 8051 South Way are restricted until the buyer is under contract; the other unit is accessed from 8001 Linda Lake.
Key Highlights
- Two 2BR/1BA units within a brick duplex
- 1,924 square feet on a 0.53‑acre corner lot
- Updated bathrooms and no carpet in both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,308
Cap Rate
4.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$446,160
$446.2K
Cap Rate 7%
$318,686
$318.7K
Cap Rate 9%
$247,867
$247.9K
Market Conditions
NOI Build-Up for 1,924 SF
Gross rent
$34.6K $18.00/SF
− Vacancy
−$2.8K −$1.44/SF
EGI
$31.9K $16.56/SF
− OpEx
−$9.6K −$4.97/SF
NOI
$22.3K $11.59/SF
Area
ZIP 28215
Vacancy
7.98%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$446,160
Cap Rate 7%
$318,686
Cap Rate 9%
$247,867
Alternative Uses
Best Use
Multifamily LT 5
$318.7K
$278.9K – $371.8K
NOI $22,308 @ 7.0% cap · market cap 4.47%
Second Best
Apartment 5plus
$290.8K
$254.5K – $339.3K
NOI $20,356 @ 7.0% cap · market cap 4.08%
Theoretical Best
Office A
$605.6K
$529.9K – $706.5K
NOI $42,390 @ 7.0% cap · market cap 8.49%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
197
Businesses Nearby
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Business Placement
Demographics for 28215, NC
61,842
Population
25,350
Households
2.4
Avg Household Size
35
Median Age
31%
College-Educated
84%
High-School Grad
28.9 sq mi
ZIP Area
2,140
Density / Sq Mi
$66,065
Median Household Income
$37,904
Median Earnings
$1,349
Median Rent
$273,800
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Charlotte, NC
Properties on Market for Duplexes in Charlotte
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two rental units feature updated baths, carpet-free interiors, and separate driveways for convenient access.
Where is this duplex located?
The property is located at 8051 S Way Road Charlotte, NC.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Two 2BR/1BA units within a brick duplex; 1,924 square feet on a 0.53‑acre corner lot; Updated bathrooms and no carpet in both units
