Three-Unit Multifamily
For Sale
$299,000
930 S Miller Street, Gastonia, NC 28052
A detached residence and rear duplex provide three separately metered rental units on one parcel.
Property Size1,948 SF
Price / SF$153.49
Days on Market184
Property Features for 930 S Miller Street
General Information
Standard status
Active
Size
1,948 SF
Property subtype
Triplex
Occupancy
100%
Units
Multifamily Units
3
Individually Metered Utilities
electricity, water
Additional Details
Gross Income
$36,000
Tenant in Place
Yes
Building Details
Building Size
1,948 SF
Year Built
1950
Buildings
2
Tenancy
Multi
Listing Agency:
Lifestyle International Realty
Listed By:
Guerra & Associates Realty LLC
(704) 699-3877
Source:
Guerra-realty
Added: Apr 27
Changed: Oct 27
Last Checked: Oct 27 at 4:30AM
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 Lifestyle International Realty
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Investment Insights
Based on property information with market context.
This multifamily property combines a single-family residence with a two-story duplex at the rear, totaling three units on one parcel. The property contains 1,948 square feet and was built in 1950. All units are tenant-occupied, and each has separate electric and water meters.
The duplex received new 220-volt window heating and cooling units and water heaters within the last year. Vinyl plank flooring extends throughout the units, and the duplex bathrooms were updated within the past two years. The property is being sold as-is.
The duplex received new 220-volt window heating and cooling units and water heaters within the last year. Vinyl plank flooring extends throughout the units, and the duplex bathrooms were updated within the past two years. The property is being sold as-is.
Key Highlights
- Three tenant‑occupied units: one single‑family residence and a two‑story duplex
- 1,948 square feet; built in 1950
- Separate electric and water meters for all three units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,609
Cap Rate
6.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$412,180
$412.2K
Cap Rate 7%
$294,414
$294.4K
Cap Rate 9%
$228,989
$229.0K
Market Conditions
NOI Build-Up for 1,948 SF
Gross rent
$40.9K $21.00/SF
− Vacancy
−$3.4K −$1.76/SF
EGI
$37.5K $19.24/SF
− OpEx
−$16.9K −$8.66/SF
NOI
$20.6K $10.58/SF
Area
Gaston County, NC
Vacancy
8.40%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$412,180
Cap Rate 7%
$294,414
Cap Rate 9%
$228,989
Alternative Uses
Best Use
Apartment 5plus
$294.4K
$257.6K – $343.5K
NOI $20,609 @ 7.0% cap · market cap 6.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$613.1K
$536.5K – $715.3K
NOI $42,918 @ 7.0% cap · market cap 14.35%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
153
Businesses Nearby
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Business Placement
Demographics for 28052, NC
35,332
Population
15,561
Households
2.3
Avg Household Size
38
Median Age
16%
College-Educated
83%
High-School Grad
41.4 sq mi
ZIP Area
853
Density / Sq Mi
$46,015
Median Household Income
$34,339
Median Earnings
$1,058
Median Rent
$173,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - A detached residence and rear duplex provide three separately metered rental units on one parcel.
Where is this multifamily property located?
The property is located at 930 S Miller Street Gastonia, NC.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Three tenant‑occupied units: one single‑family residence and a two‑story duplex; 1,948 square feet; built in 1950; Separate electric and water meters for all three units
