Renovated Duplex for Immediate
For Sale
$799,000
1038 Harbor View Road, Charleston, SC 29412
MULTI_FAMILY - Charleston, SC
Property Size2,017 SF
Lot Size0.34 Acres
Price / SF$396.13
Days on Market217
Property Features for 1038 Harbor View Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Rooms
Bedroom 2, Bedroom 3, Bedroom 1, Bedroom 4, Bedroom 5
Subdivision
Lawton Bluff
Elementary school
Stiles Point
Middle school
Camp Road
High school
James Island Charter
Standard status
Active
Size
2,017 SF
Lot size
0.34 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
brand new appliances
fenced backyard
Building Details
Year built
1967
Building materials
Brick
Listing Agency:
NAI Charleston, LLC
(843) 804-6818
Listed By:
Gigi Gilden
(843) 804-6818
Added: Jan 5
Changed: Aug 7
Last Checked: Aug 10 at 1:06AM
MLS# 26000531
Copyright © 2026 CHS Regional MLS. 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.
Fully leased duplex at 1038 Harbor View Road, completely renovated in 2025. The property offers two units of approximately 996 SF each, featuring brand new appliances and updated kitchen and bathroom finishes. A newly fenced, separated backyard provides tenant privacy.
The duplex is brick construction and connected to public water and public sewer. It is located off Harbor View Road across from the Harris Teeter retail center, with downtown Charleston about 12 minutes away.
Each unit includes multiple bedrooms (Bedroom 1 through Bedroom 5 are listed across the property), supporting a straightforward residential rental layout in a two-unit configuration.
The duplex is brick construction and connected to public water and public sewer. It is located off Harbor View Road across from the Harris Teeter retail center, with downtown Charleston about 12 minutes away.
Each unit includes multiple bedrooms (Bedroom 1 through Bedroom 5 are listed across the property), supporting a straightforward residential rental layout in a two-unit configuration.
Key Highlights
- Fully leased duplex with complete renovation in 2025
- Two units at approximately 996 SF each
- Brand new appliances plus new kitchen and bathroom finishes
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
$26,418
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
3.31%
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%
$528,360
$528.4K
Cap Rate 7%
$377,400
$377.4K
Cap Rate 9%
$293,533
$293.5K
Market Conditions
NOI Build-Up for 2,017 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
$39.9K $19.80/SF
− Vacancy
−$2.2K −$1.09/SF
EGI
$37.7K $18.71/SF
− OpEx
−$11.3K −$5.61/SF
NOI
$26.4K $13.10/SF
Area
Charleston, SC
Vacancy
5.50%
Lease Rate
$19.80 /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%
$528,360
Cap Rate 7%
$377,400
Cap Rate 9%
$293,533
Alternative Uses
Best Use
Multifamily LT 5
$377.4K
$330.2K – $440.3K
NOI $26,418 @ 7.0% cap · market cap 3.31%
Second Best
Apartment 5plus
$349.8K
$306.0K – $408.1K
NOI $24,483 @ 7.0% cap · market cap 3.06%
Theoretical Best
Office A
$545.8K
$477.6K – $636.8K
NOI $38,208 @ 7.0% cap · market cap 4.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
107
Businesses Nearby
Explore this area
Business Placement
Demographics for 29412, SC
39,687
Population
18,429
Households
2.2
Avg Household Size
40
Median Age
55%
College-Educated
96%
High-School Grad
39.2 sq mi
ZIP Area
1,012
Density / Sq Mi
$99,443
Median Household Income
$54,757
Median Earnings
$1,744
Median Rent
$458,000
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 - Completely renovated, fully leased duplex with separate fenced backyard and public water and sewer service.
Where is this duplex located?
The property is located at 1038 Harbor View Road Charleston, SC.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Fully leased duplex with complete renovation in 2025; Two units at approximately 996 SF each; Brand new appliances plus new kitchen and bathroom finishes
