427 B Arbor Drive
Waxhaw, NC, 28173 $ 575,000
Bedrooms6 Baths4.2 Sq 2,640 Monthly Estimate*
$ 3,971
for $575,000 with 6 bedrooms and 4 full baths, 2 half baths. This 2,640 square foot home was built in 2021 on a lot size of 0.114.
An excellent downtown Waxhaw investment opportunity offering the combination of current rental income and immediate lease-up flexibility. Built in 2022, this duplex contains approximately 2,624 total square feet, with each residence offering three bedrooms, two-and-a-half baths and approximately 1,320 square feet. Both units feature open-concept main-level living, modern finishes, granite countertops, shaker-style cabinetry, durable laminate flooring on the main level, carpeted bedrooms upstairs, washer/dryer connections and driveway parking. The property is convenient to downtown Waxhaw shopping, dining and community amenities, with the Waxhaw Library located nearby. Unit C is currently leased at $1,750 per month. Unit D is vacant and is currently being marketed for lease at $1,800 per month, giving the next owner the flexibility to select the next tenant, establish the new lease terms or potentially occupy one side, subject to applicable lease and financing requirements. Based on the current $1,750 rent and the vacant unit’s $1,800 advertised rent, projected stabilized gross income is $3,550 per month, or $42,600 annually. At the $575,000 asking price, that represents an approximate 7.41% stabilized gross yield before operating expenses. Projected income is based on the vacant unit being leased at its current advertised rental rate and is not guaranteed. Gross yield is not a cap rate and does not deduct taxes, insurance, utilities, maintenance, vacancy, management or capital reserves. This property offers an appealing balance for an investor: income already in place from one unit, combined with immediate control over the second unit. Lease documentation, rental history and available financial information may be reviewed during due diligence. A companion fully occupied duplex containing two additional three-bedroom rental units is also being offered separately, creating the opportunity to acquire both buildings as a four-unit portfolio, subject to availability. See companion MLS 4415402. Buyer is always encouraged to verify all property information, square footage, leases, projected income and expenses. ****virtual staging used! There are mounted sconces represented in the primary bedroom that are not present! that is virtual staging only****
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FeaturesGeneralLiving Area 2640
Sewer Public Sewer
Heating Central Electric Heat Pump
Cooling Ceiling Fan(s) Central Air Electric
Utilities Electricity Connected
Roof Composition
Appliances Dishwasher Electric Range Microwave
Development Status Completed
Zoning AK2
Patio/Porch Features Covered Front Porch
Architectural Style Arts and Crafts
Construction Materials Fiber Cement
Pets Allowed Conditional
Year Built 2021
Tenant Pays All Utilities
Stories Count 2
Property Subtype Duplex
Parcel Number 05-115-055
Waterfront Features None
Community Features None
County Union
New Construction N
Property Type Residential Income
HOA N
Subdivision Name None
Garage Y/N N
Other Structures None
Full Baths 4
High School Parkwood
City Waxhaw
Senior Community Y/N N
Open Parking Spaces 4
Number Of Units Total 2
Lot Size Units Acres
Carport Y/N N
Elementary School Waxhaw
Middle/Junior High School Parkwood
Additional Parcels Y/N N
Standard Status Active
Construction Type Site Built
Tax Assessed Value 603700
Listing Terms Cash Other - See Remarks
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InteriorInterior Amenities Open Floorplan Pantry
Flooring Carpet Laminate
Basement (Y/N) N
Window Features Insulated Window(s)
Fireplace Y/N N
Above Grade Finished Area 2640
Half Baths 2
Laundry Features In Unit Inside Laundry Closet Main Level Washer Hookup
Total Bedrooms 6
Below Grade Finished Area 0
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ExteriorParking Features Driveway Parking Space(s)
Lot Features Sloped
Water Source City
Lot Size Area 0.114
Foundation Details Crawl Space
Building Area Total 2640
Road Surface Type Concrete Paved
Other Parking There are 2 spaces per unit
Door Features Insulated Door(s)
Road Responsibility Publicly Maintained Road
Horse Amenities None
Main Level Garage YN N
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* Excluded FeaturesList ByDavid Hoffman Realty CharlotteBroker
Affordability Calculator
- Monthly Principal & Interest
- $3,971
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 7.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyMulti-family listings in Waxhaw, NC
Average List Price $575,000
Percent of Sale Price 0%
About Waxhaw, NC 16,576 Population
317% Since 2002
$ 87,170 Median Income
37.82 Median Age
51% Households with Children
Trends Information provided by ATTOM Data Solutions.
294218 Elementary School
293270 Middle School
Parkwood High School High School
Pricing History| Date | Price | Price Change | Description |
|---|
| 8/20/2026 | $575,000 | | Listed Price |