Renovated Duplex with Fenced
For Sale
$799,000
1038 Harbor View Road, Charleston, SC 29412
Residential Income, Charleston, SC
Property Size1,992 SF
Lot Size0.34 Acres
Price / SF$401.10
Days on Market244
Property Features for 1038 Harbor View Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Rooms
Bedroom 3, Bedroom 2, Bedroom 1, Bedroom 5, Bedroom 4
Subdivision
Lawton Bluff
Elementary school
Stiles Point
Middle school
Camp Road
High school
James Island Charter
Standard status
Active
Size
1,992 SF
Lot size
0.34 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
fenced backyard
new appliances
Building Details
Year built
1967
Building materials
Brick
Listing Agency:
NAI Charleston, LLC
(843) 804-6818
Listed By:
Gigi Gilden · License #142454
(443) 761-0779
Added: Jan 5
Changed: Sep 4
Last Checked: Sep 6 at 6:06AM
MLS# 26000531
Copyright © 2026 CHS Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This brick duplex contains 1,992 square feet across two residential units of approximately +/-996 SF each. The interiors were comprehensively renovated in 2025, including new appliances and updated kitchen and bathroom finishes. A recently installed fence divides the backyard, creating separate outdoor areas for the occupants. The property was built in 1967 and is served by public water and public sewer.
Located across from the Harris Teeter retail center on Harbor View Road, the property is approximately 12 minutes from downtown Charleston. The 0.34-acre site combines a fully leased configuration with refreshed interior improvements and defined exterior space.
Located across from the Harris Teeter retail center on Harbor View Road, the property is approximately 12 minutes from downtown Charleston. The 0.34-acre site combines a fully leased configuration with refreshed interior improvements and defined exterior space.
Key Highlights
- Two‑unit duplex totaling 1,992 square feet
- Each unit measures approximately +/-996 SF
- Completely renovated in 2025 with new appliances and updated kitchen and bathroom finishes
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$26,091
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.27%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$521,820
$521.8K
Cap Rate 7%
$372,729
$372.7K
Cap Rate 9%
$289,900
$289.9K
Market Conditions
NOI Build-Up for 1,992 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$39.4K $19.80/SF
− Vacancy
−$2.2K −$1.09/SF
EGI
$37.3K $18.71/SF
− OpEx
−$11.2K −$5.61/SF
NOI
$26.1K $13.10/SF
Area
Charleston, SC
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$521,820
Cap Rate 7%
$372,729
Cap Rate 9%
$289,900
Alternative Uses
Best Use
Multifamily LT 5
$372.7K
$326.1K – $434.9K
NOI $26,091 @ 7.0% cap · market cap 3.27%
Second Best
Apartment 5plus
$345.4K
$302.2K – $403.0K
NOI $24,179 @ 7.0% cap · market cap 3.03%
Theoretical Best
Office A
$539.1K
$471.7K – $628.9K
NOI $37,735 @ 7.0% cap · market cap 4.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
167
Businesses Nearby
Explore this area
Business Placement
Demographics for 29412, SC
39,687
Population
18,429
Households
2.2
Avg Household Size
40
Median Age
55%
College-Educated
96%
High-School Grad
39.2 sq mi
ZIP Area
1,012
Density / Sq Mi
$99,443
Median Household Income
$54,757
Median Earnings
$1,744
Median Rent
$458,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Fully leased two-unit property with updated kitchens, bathrooms, appliances, and separate outdoor areas.
Where is this duplex located?
The property is located at 1038 Harbor View Road Charleston, SC.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,992 square feet; Each unit measures approximately +/-996 SF; Completely renovated in 2025 with new appliances and updated kitchen and bathroom finishes
