Brick Quadplex Near Downtown
For Sale
$646,500
103 Magwood Drive, Summerville, SC 29485
Fully occupied multifamily property with brick construction and four residential units in the Dorchester District 2 school zone.
Property Size3,887 SF
Days on Market188
Property Features for 103 Magwood Drive
General Information
Standard status
Active
Size
3,887 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
4 x 2BR/1.5BA
Multifamily Units
4
Additional Details
Highway Access
Yes
Building Details
Building Size
3,887 SF
Year Built
1984
Buildings
1
Construction
brick
Listing Agency:
Matt O'Neill Real Estate
(843) 654-7777
Listed By:
Paul Kelton · License #117366
Source:
Kw
Added: Feb 24
Changed: Aug 31
Last Checked: Aug 31 at 1:09AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Matt O'Neill Real Estate
Investment Insights
Based on property information with market context.
Built in 1984, this brick quadplex contains four residential units, each configured with two bedrooms and one and a half bathrooms. The property is described as fully occupied and is being offered in its current as-is condition. It is also identified as part of a three-building portfolio.
The property is located at 103 Magwood Drive in Summerville, 3.7 miles from downtown Summerville. I-26 is 5.5 miles away, while Boeing is 13.8 miles, Volvo is 16.1 miles, and the Joint Naval Base is 17.6 miles from the property. The address falls within the Dorchester District 2 school zone.
The property is located at 103 Magwood Drive in Summerville, 3.7 miles from downtown Summerville. I-26 is 5.5 miles away, while Boeing is 13.8 miles, Volvo is 16.1 miles, and the Joint Naval Base is 17.6 miles from the property. The address falls within the Dorchester District 2 school zone.
Key Highlights
- Four‑unit quadplex with two bedrooms and 1.5 bathrooms per unit
- Brick construction; built in 1984
- Fully occupied property
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
$44,063
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
6.82%
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%
$881,260
$881.3K
Cap Rate 7%
$629,471
$629.5K
Cap Rate 9%
$489,589
$489.6K
Market Conditions
NOI Build-Up for 3,887 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
$67.6K $17.40/SF
− Vacancy
−$4.7K −$1.21/SF
EGI
$62.9K $16.19/SF
− OpEx
−$18.9K −$4.86/SF
NOI
$44.1K $11.34/SF
Area
Dorchester County, SC
Vacancy
6.93%
Lease Rate
$17.40 /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%
$881,260
Cap Rate 7%
$629,471
Cap Rate 9%
$489,589
Alternative Uses
Best Use
Multifamily LT 5
$629.5K
$550.8K – $734.4K
NOI $44,063 @ 7.0% cap · market cap 6.82%
Second Best
Apartment 5plus
$580.9K
$508.3K – $677.8K
NOI $40,666 @ 7.0% cap · market cap 6.29%
Theoretical Best
Office A
$2.91M
$2.55M – $3.39M
NOI $203,625 @ 7.0% cap · market cap 31.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
123
Businesses Nearby
Explore this area
Business Placement
Demographics for 29485, SC
57,181
Population
23,382
Households
2.4
Avg Household Size
38
Median Age
35%
College-Educated
94%
High-School Grad
48.6 sq mi
ZIP Area
1,177
Density / Sq Mi
$83,287
Median Household Income
$47,371
Median Earnings
$1,473
Median Rent
$311,300
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?
Quadplex - Fully occupied multifamily property with brick construction and four residential units in the Dorchester District 2 school zone.
Where is this quadplex located?
The property is located at 103 Magwood Drive Summerville, SC.
What is the asking price?
The asking price for this property is $646,500.
What are key features of this property?
This property features: Four‑unit quadplex with two bedrooms and 1.5 bathrooms per unit; Brick construction; built in 1984; Fully occupied property
