Duplex with Covered Rear
For Sale
$445,000
4048 Parris Bridge Road, Boiling Springs, SC 29316
MULTIFAMILY, Boiling Springs, SC
Property Size2,797 SF
Lot Size0.51 Acres
Price / SF$159.10
Days on Market47
Property Features for 4048 Parris Bridge Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bedroom 2, Bedroom 1, Bedroom 4, Bedroom 6, Bedroom 5
Parking features
Garage, Driveway
Elementary school
2-Boiling Springs
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
From I-85, take Exit 75 for SC-9 N toward Boiling Springs. Merge onto SC-9 N/Boiling Springs Rd and drive approx. 2.5 miles. Turn right onto Parris Bridge Rd. Continue 1.2 miles; 4048 Parris Bridge Road will be on your right.
Subdivision
Boiling Springs
Standard status
Active
Size
2,797 SF
Lot size
0.51 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9300
Utilities
Sewer type
Septic Tank
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Water source
Public
Building Details
Year built
2023
Floors in Building
2
Number of units
2
Roof type
Composition
Listing Agency:
EXP Realty LLC
(888) 440-2798
Listed By:
Adam Taylor · License #106028
(864) 981-0222
Added: Jul 7
Changed: Aug 20
Last Checked: Aug 22 at 4:06AM
MLS# 339184
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 duplex contains 2797 square feet and was built in 2023. Each residence features an open main-level living area with a quartz kitchen, subway tile backsplash, stainless steel appliances, a primary suite with walk-in closet and en-suite bath, plus LVT flooring and recessed lighting. The upper level adds a loft, two bedrooms, a full bathroom, laundry space, and storage. Covered rear porches overlook the level backyard.
Both units are occupied by tenants. The property has no HOA, and each side includes a garage and driveway parking. Public water and septic service are in place, with heat pump systems providing heating and cooling. The property is located at 4048 Parris Bridge Road in Boiling Springs, Spartanburg County, South Carolina.
Both units are occupied by tenants. The property has no HOA, and each side includes a garage and driveway parking. Public water and septic service are in place, with heat pump systems providing heating and cooling. The property is located at 4048 Parris Bridge Road in Boiling Springs, Spartanburg County, South Carolina.
Key Highlights
- Duplex built in 2023 with 2797 square feet
- Both units are currently occupied by tenants
- Each unit includes a main‑level primary suite and upper‑level loft
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
$24,998
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
5.62%
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%
$499,960
$500.0K
Cap Rate 7%
$357,114
$357.1K
Cap Rate 9%
$277,756
$277.8K
Market Conditions
NOI Build-Up for 2,797 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
$37.6K $13.44/SF
− Vacancy
−$1.9K −$0.67/SF
EGI
$35.7K $12.77/SF
− OpEx
−$10.7K −$3.83/SF
NOI
$25.0K $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%
$499,960
Cap Rate 7%
$357,114
Cap Rate 9%
$277,756
Alternative Uses
Best Use
Multifamily LT 5
$357.1K
$312.5K – $416.6K
NOI $24,998 @ 7.0% cap · market cap 5.62%
Second Best
Apartment 5plus
$329.0K
$287.8K – $383.8K
NOI $23,027 @ 7.0% cap · market cap 5.17%
Theoretical Best
Warehouse
$2.17M
$1.90M – $2.53M
NOI $151,996 @ 7.0% cap · market cap 34.16%
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
51
Businesses Nearby
Explore this area
Business Placement
Demographics for 29316, SC
29,459
Population
12,202
Households
2.4
Avg Household Size
36
Median Age
26%
College-Educated
93%
High-School Grad
21.8 sq mi
ZIP Area
1,351
Density / Sq Mi
$75,808
Median Household Income
$44,015
Median Earnings
$1,133
Median Rent
$227,700
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 occupied units offer a flexible residential income configuration with garage and driveway parking.
Where is this duplex located?
The property is located at 4048 Parris Bridge Road Boiling Springs, SC.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: Duplex built in 2023 with 2797 square feet; Both units are currently occupied by tenants; Each unit includes a main‑level primary suite and upper‑level loft
