416 Norwood DR, Charlotte, NC 28208
416 Norwood DR, Charlotte, NC 28208
416 Norwood DR, Charlotte, NC 28208
37
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$229,900
Est. payment /mo
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2 Beds
2 Baths
1,220 SqFt
New

416 Norwood DR Charlotte, NC 28208

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Jeff Villines

Jeff Villines

+1(704) 500-4737

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Duplex

Listing Status Active

Purchase Type For Sale

Square Footage 1,220 sqft

Price per Sqft $188

MLS Listing ID 4440096

Bedrooms 2

Full Baths 2

Abv Grd Liv Area 1,220

Year Built 1924

Lot Size 7,535 Sqft

Acres 0.173

Lot Dimensions 50 X 150 X 50 X 150

Property Sub-Type Duplex

Property Description

Rare opportunity in Lakewood: a clean, mostly renovated duplex priced to move. Close to Downtown Charlotte and major freeways, this two-unit property offers strong long-term cash flow potential and future value growth. Ideal for an investor, 1031 exchange, or hold strategy.Each side is a complete one-bedroom unit. The owner has painted and refinished the walls, installed new kitchen cabinets, and updated the bathrooms. A new roof is already in place, and the HVAC install is ready to proceed. The property needs very little additional investment to finish and can be rapidly leased.Electric and gas are not currently hooked up. Street parking is available, with a driveway on one side.Honest location note: From the front of the property there is a clear view toward the downtown Charlotte skyline. Between the home and the skyline are Duke Energy power lines and a grouping of transformers; the open space across the street is the result of that utility corridor. A nice Greenway is only a block or two away.New-construction homes are planned next door (pads are ready), which should support neighborhood values. Market rents for a nice renovated one-bedroom in the Lakewood/28208 area currently appear to support roughly $1,050–$1,250 unfurnished or $1,250–$1,500 furnished, depending on condition and presentation. Short-term rental options (Airbnb/Vrbo) could potentially generate higher gross monthly income in the $1,800–$2,800 range before expenses, based on typical Charlotte one-bedroom rates of approximately $100–$130 per night, though actual results will vary with occupancy, management, and local regulations. Furnishing the units inexpensively may also support stronger cash flow while helping control maintenance costs and providing additional tax advantages.Lowest-priced duplex currently available in the market. Strong numbers for a Charlotte investment.

Located in the improving Lakewood neighborhood just minutes from Downtown Charlotte, this duplex sits near major freeways for easy access to Uptown, the airport, and the broader metro. Nearby amenities include the popular Greenway, local restaurants, and everyday services, with more dining and entertainment options a short drive away. Mecklenburg County's relatively competitive tax environment helps preserve more of your cash flow compared with many other markets.Investors will appreciate the combination of a low entry price, recent updates, and a new roof that reduces near-term capital expenditures. At current market rents, the property offers the potential for a solid 7–8% cap rate depending on purchase price, operating expenses, and actual rents achieved. The two complete one-bedroom units can be leased long-term for steady income or furnished for short-term rental to pursue higher gross returns. New construction planned next door should further support neighborhood values over time. With minimal finish work remaining, this is a straightforward opportunity to acquire a performing duplex close to Charlotte's core—priced well below replacement cost and positioned for both immediate cash flow and longer-term appreciation.

Location

State NC

County Mecklenburg

Zoning INST(CD)

Interior

Heating Forced Air

Cooling None

Flooring Tile, Vinyl, Wood, Other - See Remarks

Fireplace false

Appliance Exhaust Fan

Laundry Electric Dryer Hookup, In Kitchen

Exterior

Community Features Recreation Area, Walking Trails

Utilities Available Cable Available, Electricity Connected, Satellite Internet Available

View City

Roof Type Architectural Shingle,Composition

Street Surface Gravel,Paved

Porch Front Porch, Rear Porch

Garage false

Building

Lot Description Views, Other - See Remarks

Dwelling Type Site Built

Foundation Crawl Space

Sewer Public Sewer

Water City

Structure Type Aluminum,Glass,Wood

New Construction false

Schools

Elementary Schools Unspecified

Middle Schools Unspecified

High Schools Unspecified

Others

Pets Allowed Yes

Senior Community false

Special Listing Condition None

© 2026 Listings courtesy of Canopy MLS as distributed by MLS GRID. All Rights Reserved.
Listed by Dan De La Portilla • RE/MAX Executive • DD@remax.net

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Jeff Villines

Jeff Villines

Broker License ID: 328303

+1(704) 500-4737

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416 Norwood DR