Tenant-Occupied Duplex with Central
For Sale
$245,000
2056 Pineview Drive, Spartanburg, SC 29307
MULTIFAMILY, Spartanburg, SC
Property Size1,944 SF
Lot Size0.40 Acres
Price / SF$126.03
Days on Market95
Property Features for 2056 Pineview Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
County
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 2, Bedroom 1, Bedroom 4
Parking features
Driveway
Elementary school
7-Jesse Boyd
Middle school
7-McCraken J
High school
7-Spartanburg
Elementary school district
7 Sptbg Co
Middle school district
7 Sptbg Co
High school district
7 Sptbg Co
Directions
East Main Street North turn onto Fernwood Glendale Road, 2.9 miles turn onto Pineview Road, .6 miles 2056 Pineview Road. Use GPS
Subdivision
Spartanburg
Standard status
Active
Size
1,944 SF
Lot size
0.40 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2754
Utilities
Sewer type
Septic Tank
Heating system
Ceiling, Heat Pump (Heating)
Cooling system
Wall Unit(s), Wall/Window Unit(s), Heat Pump
Water source
Public
Building Details
Year built
1974
Floors in Building
1
Number of units
2
Roof type
Composition
Listing Agency:
The W Lewis White Co Inc
(864) 542-8008
Listed By:
Claude Saleeby
(864) 542-4759
Added: May 27
Changed: Aug 21
Last Checked: Aug 29 at 2:06AM
MLS# 337601
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 1,944-square-foot duplex contains two residential units, each measuring approximately 972 square feet with two bedrooms and one full bathroom. Both units are tenant occupied under leases. Interior features include central heat and air, a dishwasher, range, refrigerator, storage, and washer and dryer connections. The property was built in 1974 and sits on 0.4 acres with driveway parking, a composition roof, public water, and septic service.
The duplex is located in Spartanburg’s Eastside rental area, with shopping, schools, and downtown Spartanburg identified as convenient destinations. County zoning applies. The property information also identifies a second duplex at 2052-2054 Pineview Drive on the same property, with the duplexes available for sale together or separately.
The duplex is located in Spartanburg’s Eastside rental area, with shopping, schools, and downtown Spartanburg identified as convenient destinations. County zoning applies. The property information also identifies a second duplex at 2052-2054 Pineview Drive on the same property, with the duplexes available for sale together or separately.
Key Highlights
- Two‑unit duplex totaling 1,944 square feet; each unit is approximately 972 square feet
- Each unit includes 2 bedrooms and 1 full bathroom
- Both units are tenant occupied with leases
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
$17,375
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
7.09%
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%
$347,500
$347.5K
Cap Rate 7%
$248,214
$248.2K
Cap Rate 9%
$193,056
$193.1K
Market Conditions
NOI Build-Up for 1,944 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
$26.1K $13.44/SF
− Vacancy
−$1.3K −$0.67/SF
EGI
$24.8K $12.77/SF
− OpEx
−$7.4K −$3.83/SF
NOI
$17.4K $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%
$347,500
Cap Rate 7%
$248,214
Cap Rate 9%
$193,056
Alternative Uses
Best Use
Multifamily LT 5
$248.2K
$217.2K – $289.6K
NOI $17,375 @ 7.0% cap · market cap 7.09%
Second Best
Apartment 5plus
$228.6K
$200.1K – $266.8K
NOI $16,005 @ 7.0% cap · market cap 6.53%
Theoretical Best
Warehouse
$1.51M
$1.32M – $1.76M
NOI $105,642 @ 7.0% cap · market cap 43.12%
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
Location Intelligence
Trade Area within ½ mile
32
Businesses Nearby
Explore this area
Business Placement
Demographics for 29307, SC
19,034
Population
8,946
Households
2.1
Avg Household Size
44
Median Age
35%
College-Educated
86%
High-School Grad
44.7 sq mi
ZIP Area
426
Density / Sq Mi
$61,330
Median Household Income
$39,543
Median Earnings
$1,043
Median Rent
$207,800
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 - Two-bedroom units offer appliances, storage, and washer and dryer connections.
Where is this duplex located?
The property is located at 2056 Pineview Drive Spartanburg, SC.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,944 square feet; each unit is approximately 972 square feet; Each unit includes 2 bedrooms and 1 full bathroom; Both units are tenant occupied with leases
