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Paul Sofia
  • Lender
  • Charlotte, NC
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Duplex pricing question Charlotte MSA (East Rowan County)

Paul Sofia
  • Lender
  • Charlotte, NC
Posted Apr 15 2024, 10:11

I've been acquiring and selling real estate for well over 20 years but I've never acquired or built a duplex. I've got a piece of land under contract that I can subdivide and put a duplex on one of the lots to sell. I honestly don't know the demands in the current market SFR on the other hand, I can do an entry level home with an attractive price point on both lots, New duplexes near this area in are bringing $1,500 + that I'm aware of. Thoughts.....

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Brandon Elliott
  • Realtor
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Brandon Elliott
  • Realtor
Replied Apr 15 2024, 10:18

Would it be helpful to connect with a local realtor that specializes in selling duplexes and their respective rents/ price per square foot?

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Paul Sofia
  • Lender
  • Charlotte, NC
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Paul Sofia
  • Lender
  • Charlotte, NC
Replied Apr 15 2024, 11:37

Eventually but looking from an experienced investor's prospective is helpful.

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Wyatt Wolff
Pro Member
  • Lender
  • Charlotte, NC
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Wyatt Wolff
Pro Member
  • Lender
  • Charlotte, NC
Replied Apr 16 2024, 09:34

Duplex all the way. Two angles. One, you now have double the doors, w just one roof. Better for cashflow, and maintenance is still fairly stable. 

Second, from a demand perspective if you were to sell... duplexes are the hottest thing that Charlotte doesn't have any of. Househackers/ new investors will always gobble them up, giving you an escape hatch if you ever wanted it. 

But don't listen to me, ask some agents what they think! 

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Paul Sofia
  • Lender
  • Charlotte, NC
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Paul Sofia
  • Lender
  • Charlotte, NC
Replied Apr 19 2024, 13:36

Thanks.   Would not be for a rental but yes, I can get some comps from a realtor

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Kai Kopsch
Pro Member
  • Real Estate Broker
  • Charlotte, NC
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Kai Kopsch
Pro Member
  • Real Estate Broker
  • Charlotte, NC
Replied Apr 20 2024, 07:33

Duplex units are very rare in the Charlotte MSA only 19 units sold past 60 days. 


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