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Closed
    • $905,000

    401 Duke St, Forest City, NC 28043

    24beds
    13,440sqft
    Multi Family
    Built in 1981
    -- sqft lot
    $1,145,500 Zestimate®
    $67/sqft
    $1,016 Estimated rent

    Home value

    $1,145,500

    $871,000 - $1.49M

    $1,016/mo

    Zestimate® history
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    What's special

    A Great Investment Opportunity! Colonial Arms is a 12 unit 3 building apartment complex in a prime location close to shopping and dining! 3 units have 3 Bedrooms and the other nine units have 2 Bedrooms...all with 1.5 Baths. All apartments have heat pumps and washer/dryer connections. Unit #5 is currently having some improvements made. Forest City water and sewer available along with regular trash pickup. All tenants are on month to month leases A listing agent will need to accompany selling agent and buyer for a showing.

    Zillow last checked:

    Listing updated:

    Listed by:

    Kathy Rabb 828-442-6503,

    Realty Group 1 LLC,

    Brandon Braswell,

    Realty Group 1 LLC

    Bought with:

    Zaf Urmanov

    Dane Warren Real Estate

    Source: Canopy MLS as distributed by MLS GRID,MLS#: 4072102MLS Logo

    Facts & features

    Interior

    Bedrooms & bathrooms
    • Bedrooms: 24
    • Bathrooms: 24
    • Full bathrooms: 12
    • 1/2 bathrooms: 12
    Heating
    • Central, Electric, Heat Pump
    Cooling
    • Electric, Heat Pump
    Appliances
    • Included: Electric Range, Electric Water Heater, Refrigerator
    • Laundry: Electric Dryer Hookup, Inside, Main Level, Washer Hookup
    Features
    • None
    • Flooring: Carpet, Vinyl
    • Doors: Storm Door(s)
    • Basement: Other
    Interior area
    • Total structure area: 13,440
    • Total interior livable area: 13,440 sqft
    • Finished area below ground: 0

    Property

    Parking
    • Total spaces: 24
    • Parking features: Parking Lot
    • Uncovered spaces: 24
    • Details: In front of apartment buildings
    Accessibility
    • Accessibility features: Two or More Access Exits
    Features
    • Stories: 2
    • Patio & porch: Deck, Patio, Porch
    • Exterior features: Lawn Maintenance
    • Waterfront features: None
    Lot
    • Size: 1.36 Acres
    • Features: Level
    Details
    • Additional structures: None
    • Parcel number: 1539528735
    • Zoning: C-3
    • Special conditions: Standard
    • Horse amenities: None

    Construction

    Type & style
    • Home type: MultiFamily
    • Architectural style: Traditional
    • Property subtype: Multi Family
    Materials
    • Brick Partial, Wood
    • Foundation: Crawl Space, Slab
    • Roof: Composition
    Condition
    • New construction: No
    • Year built: 1981

    Utilities & green energy

    • Sewer: Public Sewer
    • Water: City
    • Utilities for property: Underground Power Lines

    Community & HOA

    Community
    • Features: None
    Location
    • Region: Forest City

    Financial & listing details

    • Price per square foot: $67/sqft
    • Tax assessed value: $399,000
    • Date on market: 9/27/2023
    • Cumulative days on market: 16 days
    • Listing terms: Cash,Conventional
    • Exclusions: Dishwashers in kitchen
    • Tenant pays: All Utilities, Cable TV, Electricity, Water
    • Road surface type: Concrete, Paved

    Price history

    DateEventPrice
    5/22/2025Listing removed$1,200
    Source: Zillow Rentals Report a problem
    5/5/2025Price change$1,200-2%
    Source: Zillow Rentals Report a problem
    4/30/2025Price change$1,225-2%
    Source: Zillow Rentals Report a problem
    4/7/2025Price change$1,250-2%
    Source: Zillow Rentals Report a problem
    3/20/2025Price change$1,275-1.9%
    Source: Zillow Rentals Report a problem
    3/16/2025Listed for rent$1,300
    Source: Zillow Rentals Report a problem
    4/16/2024Listing removed--
    Source: Zillow Rentals Report a problem
    3/15/2024Price change$1,300+4%
    Source: Zillow Rentals Report a problem
    3/13/2024Price change$1,250-3.8%
    Source: Zillow Rentals Report a problem
    3/11/2024Listed for rent$1,300+8.3%
    Source: Zillow Rentals Report a problem
    2/2/2024Listing removed--
    Source: Zillow Rentals Report a problem
    1/22/2024Listed for rent$1,200
    Source: Zillow Rentals Report a problem
    1/11/2024Sold$905,000-7.2%$67/sqft
    Source: Canopy MLS as distributed by MLS GRID #4072102 Report a problem
    10/13/2023Pending sale$975,000$73/sqft
    Source: Canopy MLS as distributed by MLS GRID #4072102 Report a problem
    9/27/2023Listed for sale$975,000$73/sqft
    Source: Canopy MLS as distributed by MLS GRID #4072102 Report a problem

    Public tax history

    YearProperty taxesTax assessment
    2025-- $609,500 +52.8%
    2024$4,322 +1.4%$399,000
    2023$4,262 +9.5%$399,000 +24.8%
    2022$3,892 +34.2%$319,800
    2021$2,901 $319,800
    2020$2,901 +3.4%$319,800
    2019$2,805 -2.3%$319,800 -0.1%
    2018$2,870 $320,000
    2016$2,870 $320,000
    2013$2,870 $320,000
    2011-- $320,000
    Find assessor info on the county website

    Neighborhood: 28043

    Nearby homes

    Nearby schools

    GreatSchools rating
    Schools provided by the listing agent
    • Elementary: Dunbar
    • Middle: East Rutherford
    • High: East Rutherford

    Source: Canopy MLS as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.

    Sell for more on Zillow
    Get a Zillow Showcase℠ listing at no additional cost and you could sell for .
    $1,145,500
    2% more
    +$22,910
    With Zillow Showcase(estimated)
    $1,168,410
    Sell for more on Zillow
    Get a Zillow Showcase℠ listing at no additional cost and you could sell for .
    $1,145,500
    2% more
    +$22,910
    With Zillow Showcase(estimated)
    $1,168,410

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