10-Unit Apartment
For Sale
$600,000
101-201 Byrd St and 402 Seaboard, Greenwood, SC 29629
Residential Income, Greenwood, SC
Property Size6,720 SF
Price / SF$89.29
Days on Market538
Property Features for 101-201 Byrd St and 402 Seaboard
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bedroom 6, Bedroom 1, Bedroom 3, Bedroom 4, Bathroom 1, Bedroom 7, Bedroom 2, Bathroom 4, Bedroom 8, Bathroom 3, Bedroom 5
Subdivision
NOT IN SUBDIVIS
Standard status
Active
Size
6,720 SF
Utilities
Cooling system
Central Air
Building Details
Year built
1961
Floors in Building
1
Number of units
10
Building materials
Vinyl Siding
Roof type
Composition
Listing Agency:
La Rosa Realty, LLC
(864) 321-2865
Listed By:
Diane Gillespie · License #39972
(864) 341-7653
Added: Mar 17, 2025
Changed: Sep 5
Last Checked: Sep 5 at 10:06PM
MLS# 132301
Copyright © 2026 Greenwood 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.
This 10-unit apartment property contains 6,720 square feet across homes measuring 672 square feet each. The residences feature two bedrooms, one bathroom, vinyl siding, composition roofs, and central air conditioning. Nine units are currently rented, and the property also includes two vacant lots. The improvements date to 1961.
The property is located at 101-201 Byrd St and 402 Seaboard in Greenwood, South Carolina. Several properties have tax sale deeds, providing an important ownership consideration for review during due diligence.
The property is located at 101-201 Byrd St and 402 Seaboard in Greenwood, South Carolina. Several properties have tax sale deeds, providing an important ownership consideration for review during due diligence.
Key Highlights
- 10‑unit apartment property with 9 units rented
- 6,720 square feet across the apartment improvements
- Each home measures 672 square feet with 2 bedrooms and 1 bathroom
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
$23,059
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
3.84%
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%
$461,180
$461.2K
Cap Rate 7%
$329,414
$329.4K
Cap Rate 9%
$256,211
$256.2K
Market Conditions
NOI Build-Up for 6,720 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
$78.2K $11.64/SF
− Vacancy
−$36.3K −$5.40/SF
EGI
$41.9K $6.24/SF
− OpEx
−$18.9K −$2.81/SF
NOI
$23.1K $3.43/SF
Area
Greenwood County, SC
Vacancy
46.40%
Lease Rate
$11.64 /SF/Yr
Expense Ratio
45.00%
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%
$461,180
Cap Rate 7%
$329,414
Cap Rate 9%
$256,211
Alternative Uses
Best Use
Apartment 5plus
$329.4K
$288.2K – $384.3K
NOI $23,059 @ 7.0% cap · market cap 3.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.11M
$1.85M – $2.46M
NOI $147,771 @ 7.0% cap · market cap 24.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
898
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Residential income property with central air, vinyl siding, and additional vacant lots.
Where is this apartment building located?
The property is located at 101-201 Byrd St and 402 Seaboard Greenwood, SC.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 10‑unit apartment property with 9 units rented; 6,720 square feet across the apartment improvements; Each home measures 672 square feet with 2 bedrooms and 1 bathroom
