Updated Two-Unit
New
For Sale
$270,000
504 Wall Street, West Columbia, SC 29169
MULTI-FAMILY, West Columbia, SC
Property Size1,256 SF
Lot Size0.20 Acres
Price / SF$214.97
Days on Market2
Property Features for 504 Wall Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 4
Parking
2
Elementary school
Riverbank Elementary
Middle school
Northside
High school
Brookland-Cayce
Elementary school district
Lexington Two
Middle school district
Lexington Two
High school district
Lexington Two
Directions
GPS for accuracy
Subdivision
Cayce/West Cola/Airport/S. Congaree
Standard status
Active
Size
1,256 SF
Lot size
0.20 Acres
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1985
Floors in Building
1
Number of units
2
Listing Agency:
eXp Realty LLC
(888) 440-2798
Listed By:
Jacob Hopper
(803) 991-6746
Added: Sep 16
Last Checked: Sep 17 at 3:06PM
MLS# 643131
Copyright © 2026 Consolidated MLS, SC. 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 two separate residences, each arranged with two bedrooms and one-and-a-half bathrooms. The units have been updated and together provide 1,256 square feet of living area. Central heating and central air serve the property, while public water supports the site. Built in 1985, the duplex occupies a 0.2-acre lot and includes an established rent roll.
The property is located at 504 Wall Street in West Columbia, South Carolina. Downtown Columbia and the University of South Carolina are each less than 15 minutes away, with access to shopping, dining, entertainment, and major interstates in the surrounding Columbia area.
The property is located at 504 Wall Street in West Columbia, South Carolina. Downtown Columbia and the University of South Carolina are each less than 15 minutes away, with access to shopping, dining, entertainment, and major interstates in the surrounding Columbia area.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1.5 bathrooms per unit
- 1,256 square feet on a 0.2‑acre lot
- Both units have been updated
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
$9,766
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
3.62%
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%
$195,320
$195.3K
Cap Rate 7%
$139,514
$139.5K
Cap Rate 9%
$108,511
$108.5K
Market Conditions
NOI Build-Up for 1,256 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
$14.9K $11.88/SF
− Vacancy
−$970 −$0.77/SF
EGI
$14.0K $11.11/SF
− OpEx
−$4.2K −$3.33/SF
NOI
$9.8K $7.78/SF
Area
Lexington County, SC
Vacancy
6.50%
Lease Rate
$11.88 /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%
$195,320
Cap Rate 7%
$139,514
Cap Rate 9%
$108,511
Alternative Uses
Best Use
Multifamily LT 5
$139.5K
$122.1K – $162.8K
NOI $9,766 @ 7.0% cap · market cap 3.62%
Second Best
Apartment 5plus
$122.1K
$106.8K – $142.4K
NOI $8,544 @ 7.0% cap · market cap 3.16%
Theoretical Best
Office A
$337.3K
$295.2K – $393.6K
NOI $23,613 @ 7.0% cap · market cap 8.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
992
Businesses Nearby
Explore this area
Business Placement
Demographics for 29169, SC
22,768
Population
11,087
Households
2.1
Avg Household Size
40
Median Age
39%
College-Educated
89%
High-School Grad
11.6 sq mi
ZIP Area
1,963
Density / Sq Mi
$53,673
Median Household Income
$38,268
Median Earnings
$1,081
Median Rent
$189,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 separately leased residences offer a practical income-producing configuration with central heating and cooling.
Where is this duplex located?
The property is located at 504 Wall Street West Columbia, SC.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1.5 bathrooms per unit; 1,256 square feet on a 0.2‑acre lot; Both units have been updated
