Duplex with Separate Basement
For Sale
$269,900
Pending
2011 Forest Drive, Seneca, SC 29672
MULTI_FAMILY - Other - Seneca, SC
Property Size2,369 SF
Lot Size0.35 Acres
Days on Market60
Property Features for 2011 Forest Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Subdivision
Enchanted Hills
Lot features
Outside City Limits, Subdivision
Elementary school
Ravenel Elm
Middle school
Seneca Middle
High school
Seneca High
Directions
From Seneca take hwy 123 towards Clemson. Turn Right on Forest Dr, will be 2nd house on the Left, see sign
Standard status
Pending
APN
210-02-02-029
Size
2,369 SF
Lot size
0.35 Acres
Utilities
Sewer type
Septic Tank
Heating system
Central, Electric (Heating), Heat Pump (Heating)
Cooling system
Electric, Heat Pump, Central Air
Water source
Public
Building Details
Year built
1975
Floors in Building
1
Building materials
Brick
Roof type
Shingle
Architectural style
Other
Listing Agency:
Keller Williams Seneca · Keller Williams Realty
(864) 482-2700
Listed By:
Daniel Delmarco · License #70421
(864) 710-4211
Added: Jun 10
Changed: Aug 6
Last Checked: Aug 8 at 9:06PM
MLS# 20302551
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.
Brick duplex located at 2011 Forest Drive in Seneca, SC, on a 0.35-acre lot. The home totals 2,369 square feet and was built in 1975, with a shingle roof.
The main level features 3 bedrooms and 1.5 baths, along with a living room, dining area, kitchen, and breakfast nook. The basement includes an additional bedroom, a full bath, a large open living/dining area, and another full kitchen. The property has 2 electric meters and includes a separate driveway and entrance to the basement, which may support flexible multi-generational living or separate occupancy.
Heating and cooling are electric, with central air and heat pump systems. Water is provided by public water and sewer is via a septic tank. The roof was installed in 2017 with a transferable warranty.
The main level features 3 bedrooms and 1.5 baths, along with a living room, dining area, kitchen, and breakfast nook. The basement includes an additional bedroom, a full bath, a large open living/dining area, and another full kitchen. The property has 2 electric meters and includes a separate driveway and entrance to the basement, which may support flexible multi-generational living or separate occupancy.
Heating and cooling are electric, with central air and heat pump systems. Water is provided by public water and sewer is via a septic tank. The roof was installed in 2017 with a transferable warranty.
Key Highlights
- 2 electric meters plus separate driveway and entrance to the basement
- Main level: 3 bedrooms and 1.5 baths with kitchen and breakfast nook
- Basement: additional bedroom, full bath, open living/dining area, and full kitchen
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
$21,626
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
8.01%
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%
$432,520
$432.5K
Cap Rate 7%
$308,943
$308.9K
Cap Rate 9%
$240,289
$240.3K
Market Conditions
NOI Build-Up for 2,369 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
$32.7K $13.80/SF
− Vacancy
−$1.8K −$0.76/SF
EGI
$30.9K $13.04/SF
− OpEx
−$9.3K −$3.91/SF
NOI
$21.6K $9.13/SF
Area
Oconee County, SC
Vacancy
5.50%
Lease Rate
$13.80 /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%
$432,520
Cap Rate 7%
$308,943
Cap Rate 9%
$240,289
Alternative Uses
Best Use
Multifamily LT 5
$308.9K
$270.3K – $360.4K
NOI $21,626 @ 7.0% cap · market cap 8.01%
Second Best
Apartment 5plus
$277.4K
$242.7K – $323.6K
NOI $19,417 @ 7.0% cap · market cap 7.19%
Theoretical Best
Office A
$594.7K
$520.4K – $693.8K
NOI $41,628 @ 7.0% cap · market cap 15.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
98
Businesses Nearby
Explore this area
Business Placement
Demographics for 29672, SC
12,703
Population
6,483
Households
2
Avg Household Size
55
Median Age
44%
College-Educated
95%
High-School Grad
39.2 sq mi
ZIP Area
324
Density / Sq Mi
$87,521
Median Household Income
$43,223
Median Earnings
$948
Median Rent
$394,200
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 - Brick duplex with public water, septic, and two electric meters, featuring a separate driveway and basement entrance.
Where is this duplex located?
The property is located at 2011 Forest Drive Seneca, SC.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: 2 electric meters plus separate driveway and entrance to the basement; Main level: 3 bedrooms and 1.5 baths with kitchen and breakfast nook; Basement: additional bedroom, full bath, open living/dining area, and full kitchen
