Maintained Duplex with
For Sale
$385,000
808 Harrisburg Dr Sw, Lenoir, NC 28645
Two-unit rental property with documented improvements, professional management, and established rental income.
Property Size3,874 SF
Price / SF$99.38
Days on Market75
Property Features for 808 Harrisburg Dr Sw
General Information
Standard status
Active
Size
3,874 SF
Property subtype
Residential Income
Listing Agency:
lpt realty llc
(877) 366-2213
Listed By:
Tristan Karmatz
(704) 775-5589
Source:
Exprealty
Added: Jun 18
Changed: Aug 30
Last Checked: Aug 31 at 12:12AM
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 lpt realty llc
Investment Insights
Based on property information with market context.
This 3,874-square-foot duplex is an income-producing residential asset with established rental operations and professional management. Ownership improvements have addressed HVAC systems, moisture management, crawl space conditions, drainage, exterior maintenance, and structural elements. The property has been actively maintained, with work focused on ongoing operation and preservation of the improvements.
Documentation and records for completed upgrades are available for buyer review. Located at 808 Harrisburg Dr Sw in Lenoir, NC, the property combines a two-unit configuration with a history of rental income and completed capital work.
Documentation and records for completed upgrades are available for buyer review. Located at 808 Harrisburg Dr Sw in Lenoir, NC, the property combines a two-unit configuration with a history of rental income and completed capital work.
Key Highlights
- 3,874‑square‑foot duplex at 808 Harrisburg Dr Sw, Lenoir, NC
- Two‑unit residential income property with established rental operations
- HVAC enhancements and moisture management systems completed
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
$29,007
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
7.53%
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%
$580,140
$580.1K
Cap Rate 7%
$414,386
$414.4K
Cap Rate 9%
$322,300
$322.3K
Market Conditions
NOI Build-Up for 3,874 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
$44.2K $11.40/SF
− Vacancy
−$2.7K −$0.70/SF
EGI
$41.4K $10.70/SF
− OpEx
−$12.4K −$3.21/SF
NOI
$29.0K $7.49/SF
Area
Caldwell County, NC
Vacancy
6.17%
Lease Rate
$11.40 /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%
$580,140
Cap Rate 7%
$414,386
Cap Rate 9%
$322,300
Alternative Uses
Best Use
Multifamily LT 5
$414.4K
$362.6K – $483.5K
NOI $29,007 @ 7.0% cap · market cap 7.53%
Second Best
Apartment 5plus
$382.5K
$334.7K – $446.3K
NOI $26,775 @ 7.0% cap · market cap 6.95%
Theoretical Best
Office A
$884.1K
$773.6K – $1.03M
NOI $61,885 @ 7.0% cap · market cap 16.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
176
Businesses Nearby
Explore this area
Business Placement
Demographics for 28645, NC
46,004
Population
21,558
Households
2.1
Avg Household Size
45
Median Age
17%
College-Educated
82%
High-School Grad
329.1 sq mi
ZIP Area
140
Density / Sq Mi
$50,529
Median Household Income
$34,526
Median Earnings
$726
Median Rent
$157,800
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-unit rental property with documented improvements, professional management, and established rental income.
Where is this duplex located?
The property is located at 808 Harrisburg Dr Sw Lenoir, NC.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: 3,874‑square‑foot duplex at 808 Harrisburg Dr Sw, Lenoir, NC; Two‑unit residential income property with established rental operations; HVAC enhancements and moisture management systems completed
