Duplex With Double
For Sale
$469,900
141 Sandifer Road, Spartanburg, SC 29303
MULTIFAMILY, Spartanburg, SC
Property Size2,986 SF
Price / SF$157.37
Days on Market32
Property Features for 141 Sandifer Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Driveway, Garage
Elementary school
2-Shoally Creek Elementary
Middle school
2-Rainbow Lake Middle School
High school
2-Boiling Springs
Elementary school district
2 Sptbg Co
Middle school district
2 Sptbg Co
High school district
2 Sptbg Co
Directions
North on Highway 9 Turn Right on Parris Bridge Rd. Turn Right on Sandifer. Duplex up long drive on left.
Subdivision
Boiling Springs
Standard status
Active
Size
2,986 SF
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
663
Utilities
Sewer type
Septic Tank
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
2024
Floors in Building
2
Number of units
2
Listing Agency:
Coldwell Banker Caine Real Est · Coldwell Banker Real Estate
(864) 585-8713
Listed By:
Lindsay Blanton · License #67700
(864) 237-7291
Added: Aug 4
Changed: Sep 2
Last Checked: Sep 4 at 11:06AM
MLS# 340221
Copyright © 2026 Spartanburg Association of REALTORS, Inc. 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.
Completed in 2024, this duplex contains 2,986 square feet and offers the same broad configuration in each residence: three bedrooms, a flex room, and a primary bedroom on the main level. Two additional bedrooms and the flex room are positioned upstairs, creating separation between living and sleeping areas. Each unit has a double garage, with driveway parking adding further on-site capacity.
The property occupies almost 1 acre and is served by public water and a septic tank. Mechanical systems include heat-pump heating and central air conditioning, providing year-round climate control for both residences.
The property occupies almost 1 acre and is served by public water and a septic tank. Mechanical systems include heat-pump heating and central air conditioning, providing year-round climate control for both residences.
Key Highlights
- Two‑unit duplex completed in 2024 with 2,986 square feet
- Each residence includes 3 bedrooms and a flex room
- Primary bedroom on the main level; 2 bedrooms and flex room upstairs
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
$26,688
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
5.68%
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%
$533,760
$533.8K
Cap Rate 7%
$381,257
$381.3K
Cap Rate 9%
$296,533
$296.5K
Market Conditions
NOI Build-Up for 2,986 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
$40.1K $13.44/SF
− Vacancy
−$2.0K −$0.67/SF
EGI
$38.1K $12.77/SF
− OpEx
−$11.4K −$3.83/SF
NOI
$26.7K $8.94/SF
Area
Spartanburg County, SC
Vacancy
5.00%
Lease Rate
$13.44 /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%
$533,760
Cap Rate 7%
$381,257
Cap Rate 9%
$296,533
Alternative Uses
Best Use
Multifamily LT 5
$381.3K
$333.6K – $444.8K
NOI $26,688 @ 7.0% cap · market cap 5.68%
Second Best
Apartment 5plus
$351.2K
$307.3K – $409.7K
NOI $24,583 @ 7.0% cap · market cap 5.23%
Theoretical Best
Warehouse
$2.32M
$2.03M – $2.70M
NOI $162,267 @ 7.0% cap · market cap 34.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
62
Businesses Nearby
Explore this area
Business Placement
Demographics for 29303, SC
26,793
Population
10,891
Households
2.5
Avg Household Size
33
Median Age
12%
College-Educated
76%
High-School Grad
32.4 sq mi
ZIP Area
827
Density / Sq Mi
$45,713
Median Household Income
$24,506
Median Earnings
$968
Median Rent
$143,600
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 - Newly built duplex with flexible layouts, private garages, and on-site driveway parking for both residences.
Where is this duplex located?
The property is located at 141 Sandifer Road Spartanburg, SC.
What is the asking price?
The asking price for this property is $469,900.
What are key features of this property?
This property features: Two‑unit duplex completed in 2024 with 2,986 square feet; Each residence includes 3 bedrooms and a flex room; Primary bedroom on the main level; 2 bedrooms and flex room upstairs
