Income-Producing Duplex in Downtown
204 E Fremont Avenue Spartanburg, SC 29303
204 E Fremont Avenue, Spartanburg, SC, 29303
$144,900
For Sale
$144,900
MULTI_FAMILY - Spartanburg, SC
Property Size1,245 SF
Lot Size0.25 Acres
Price / SF$116.39
Days on Market120
Property Features for 204 E Fremont Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 2
- Bathrooms
- 2
- Rooms
- Bedroom 2, Bedroom 1
- Parking features
- Off Street
- Standard status
- Active
- Size
- 1,245 SF
- Lot size
- 0.25 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 986
Utilities
- Sewer type
- Public Sewer
- Heating system
- Heat Pump (Heating)
- Cooling system
- Heat Pump
- Water source
- Public
Building Details
- Year built
- 1945
- Floors in Building
- 1
- Number of units
- 2
Listing Agency
Summey & McKillop Realty, LLC
(864) 909-6975
249 E Main St. Unit A, SPARTANBURG, SC
Listed by
Brandon McKillop · License #67162
(864) 590-4921
Added: Mar 21 Checked: Jul 18 at 7:06 am
MLS# 334928
Listing URL
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.
This income-producing duplex is located in downtown Spartanburg, adjacent to Chapel Park and in an area with new development. Situated at 204 A&B Fremont Ave, the property features two separate units, each equipped with private entrances, kitchens, and bathrooms. Unit A was renovated in 2024 and includes new vinyl windows and two mini-split systems for heating and air conditioning. Unit B has been occupied by the same tenant for over 15 years. The property is suitable for investors or owner-occupants, offering rental income potential in a location near shopping, dining, schools, and major highways. The property size is 1245 square feet and the lot size is 0.25 acres.
Key Highlights
- Income‑producing duplex with two separate units at 204 A & B Fremont Ave in downtown Spartanburg
- Each unit has a private entrance, kitchen, and bathroom
- Unit A renovated in 2024 with new vinyl windows and two efficient mini split systems (heat and air)
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $16.7k | $13.44 |
| − Vacancy | −$837 | −$0.67 |
| EGI | $15.9k | $12.77 |
| − OpEx | −$4.8k | −$3.83 |
| NOI | $11.1k | $8.94 |
1,245 SF · lease $13.44/SF/yr · vacancy 5.00% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$159.0K
$139.1K – $185.5K
NOI $11,127 @ 7.0% cap · market cap 7.68%
Second Best
Apartment 5plus
$146.4K
$128.1K – $170.8K
NOI $10,250 @ 7.0% cap · market cap 7.07%
Theoretical Best
Warehouse
$966.5K
$845.7K – $1.13M
NOI $67,656 @ 7.0% cap · market cap 46.69%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Turnkey duplex with rental income potential near downtown amenities.
Where is this duplex located?
The property is located at 204 E Fremont Avenue Spartanburg, SC.
What is the asking price?
The asking price for this property is $144,900.
What are key features of this property?
This property features: Income‑producing duplex with two separate units at 204 A & B Fremont Ave in downtown Spartanburg; Each unit has a private entrance, kitchen, and bathroom; Unit A renovated in 2024 with new vinyl windows and two efficient mini split systems (heat and air)
