Multifamily Property with Pool
For Sale
$190,000
116 university village Drive, Central, SC 29630
ResidentialIncome, Central, SC
Property Size1,498 SF
Price / SF$126.84
Days on Market289
Property Features for 116 university village Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Appliances
Dishwasher, Oven, Range, Refrigerator
Subdivision
University Village
Lot features
City Lot, Subdivision
Elementary school
Central Academy of The Arts
Middle school
R.C. Edwards Middle
High school
D.W. Daniel High
Directions
I-85 South to Clemson Exit 19 north west to N Elm St, Turn rt onto E Queen St, turn left onto 227/n elm St , into University Village .
Standard status
Active
APN
4065-17-21-0162
Size
1,498 SF
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
1810
HOA Fee
$3,600 Annually
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump, Central Air
Water source
Public
Amenities
resort-style pools
fitness center
volleyball courts
clubhouse with study and lounge areas
walking trails
Building Details
Year built
2002
Floors in Building
2
Roof type
Composition, Shingle
Listing Agency:
Axcent Realty
(864) 442-5151
Listed By:
Denise Parrett · License #97351
(864) 760-3188
Added: Nov 14, 2025
Changed: Aug 22
Last Checked: Aug 30 at 12:06PM
MLS# 20294759
Copyright © 2026 Western Upstate Association of REALTORS®. 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 multifamily property in University Village is a 1,498-square-foot townhouse built in 2002. The residence includes four bedrooms and four bathrooms, with each bedroom paired with an individual bathroom. Interior features include an open living area connected to the kitchen and dining spaces, along with a dishwasher, oven, range, and refrigerator. Heating and cooling are provided by a heat pump and central air.
University Village offers pools with sundecks, a fitness center, volleyball courts, a clubhouse with study and lounge areas, walking trails, and recreation spaces. The property is located near Clemson University and Tri-County Technical College, as well as shopping, dining, and entertainment. Public water and public sewer serve the property, and the roof is shingle and composition.
University Village offers pools with sundecks, a fitness center, volleyball courts, a clubhouse with study and lounge areas, walking trails, and recreation spaces. The property is located near Clemson University and Tri-County Technical College, as well as shopping, dining, and entertainment. Public water and public sewer serve the property, and the roof is shingle and composition.
Key Highlights
- 1,498‑square‑foot townhouse built in 2002
- Four bedrooms and four bathrooms, with an individual bathroom for each bedroom
- University Village amenities include pools, fitness center, volleyball courts, clubhouse, trails, and recreation areas
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
$11,318
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
5.96%
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%
$226,360
$226.4K
Cap Rate 7%
$161,686
$161.7K
Cap Rate 9%
$125,756
$125.8K
Market Conditions
NOI Build-Up for 1,498 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
$21.6K $14.40/SF
− Vacancy
−$992 −$0.66/SF
EGI
$20.6K $13.74/SF
− OpEx
−$9.3K −$6.18/SF
NOI
$11.3K $7.56/SF
Area
Pickens County, SC
Vacancy
4.60%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
45.00%
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%
$226,360
Cap Rate 7%
$161,686
Cap Rate 9%
$125,756
Alternative Uses
Best Use
Apartment 5plus
$161.7K
$141.5K – $188.6K
NOI $11,318 @ 7.0% cap · market cap 5.96%
Second Best
—
—
no second resolved use
Theoretical Best
Mixed Use
$221.5K
$193.8K – $258.4K
NOI $15,504 @ 7.0% cap · market cap 8.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
120
Businesses Nearby
Explore this area
Business Placement
Demographics for 29630, SC
15,651
Population
7,662
Households
2
Avg Household Size
30
Median Age
38%
College-Educated
91%
High-School Grad
61.6 sq mi
ZIP Area
254
Density / Sq Mi
$53,879
Median Household Income
$29,440
Median Earnings
$966
Median Rent
$220,300
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?
Multifamily property - Four-bedroom, four-bath configuration with community recreation amenities and public utilities.
Where is this multifamily property located?
The property is located at 116 university village Drive Central, SC.
What is the asking price?
The asking price for this property is $190,000.
What are key features of this property?
This property features: 1,498‑square‑foot townhouse built in 2002; Four bedrooms and four bathrooms, with an individual bathroom for each bedroom; University Village amenities include pools, fitness center, volleyball courts, clubhouse, trails, and recreation areas
