Duplex With Two
For Sale
$575,000
Pending
1045 Seaside Ln Apt A & B, Charleston, SC 29412
Separate residences support flexible occupancy, rental, and multigenerational living arrangements.
Property Size1,981 SF
Days on Market115
Property Features for 1045 Seaside Ln Apt A & B
General Information
Standard status
Pending
Size
1,981 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1960
Buildings
2
Listing Agency:
The Boulevard Company
(843) 806-9830
Listed By:
Kory Roscoe
Source:
Charlestonareahomeseeker
Added: May 10
Changed: Aug 31
Last Checked: Aug 31 at 7:28AM
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 The Boulevard Company
Investment Insights
Based on property information with market context.
This duplex at 1045 Seaside Ln Apt A & B includes two independent residences on a spacious lot with parking and yard area. Unit A provides 4 bedrooms, 2 bathrooms, and a flex-room configuration that can accommodate 3 bedrooms. Unit B offers 3 bedrooms and 2 bathrooms. The layout supports separate occupancy, owner use with supplemental rental income, or multigenerational living. Short-term rental use is identified as a possibility subject to local regulation.
The property is in James Island, with Edison nearby and several Charleston-area destinations within driving distance. Melton Peter Demetre Park is approximately 3 miles away, James Island County Park is 4 miles away, historic downtown Charleston is approximately 4.5 miles away, and Folly Beach is 7 miles away. Built in 1960, the property combines a two-residence configuration with outdoor space and convenient access to surrounding recreation, dining, and coastal destinations.
The property is in James Island, with Edison nearby and several Charleston-area destinations within driving distance. Melton Peter Demetre Park is approximately 3 miles away, James Island County Park is 4 miles away, historic downtown Charleston is approximately 4.5 miles away, and Folly Beach is 7 miles away. Built in 1960, the property combines a two-residence configuration with outdoor space and convenient access to surrounding recreation, dining, and coastal destinations.
Key Highlights
- Two independent residences on one spacious lot
- Unit A offers 4 bedrooms, 2 bathrooms, or 3 bedrooms with a flex room
- Unit B includes 3 bedrooms and 2 bathrooms
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
$25,947
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
4.51%
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%
$518,940
$518.9K
Cap Rate 7%
$370,671
$370.7K
Cap Rate 9%
$288,300
$288.3K
Market Conditions
NOI Build-Up for 1,981 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
$39.2K $19.80/SF
− Vacancy
−$2.2K −$1.09/SF
EGI
$37.1K $18.71/SF
− OpEx
−$11.1K −$5.61/SF
NOI
$25.9K $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%
$518,940
Cap Rate 7%
$370,671
Cap Rate 9%
$288,300
Alternative Uses
Best Use
Multifamily LT 5
$370.7K
$324.3K – $432.5K
NOI $25,947 @ 7.0% cap · market cap 4.51%
Second Best
Apartment 5plus
$343.5K
$300.6K – $400.8K
NOI $24,046 @ 7.0% cap · market cap 4.18%
Theoretical Best
Office A
$536.1K
$469.1K – $625.4K
NOI $37,526 @ 7.0% cap · market cap 6.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
139
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 - Separate residences support flexible occupancy, rental, and multigenerational living arrangements.
Where is this duplex located?
The property is located at 1045 Seaside Ln Apt A & B Charleston, SC.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Two independent residences on one spacious lot; Unit A offers 4 bedrooms, 2 bathrooms, or 3 bedrooms with a flex room; Unit B includes 3 bedrooms and 2 bathrooms
