Four-Unit Multifamily
For Sale
$589,000
109 Magwood Drive, Summerville, SC 29485
The property contains two-bedroom residences with one-and-a-half baths and is being sold as-is.
Property Size3,887 SF
Days on Market319
Property Features for 109 Magwood Drive
General Information
Standard status
Active
Size
3,887 SF
Property subtype
Multi-Family
Occupancy
75%
Additional Details
Highway Access
Yes
Multifamily Units
4
Building Details
Building Size
3,887 SF
Year Built
1984
Listing Agency:
Matt O'Neill Real Estate
(843) 654-7777
Listed By:
Paul Kelton · License #117366
Source:
Kw
Added: Oct 16, 2025
Changed: Aug 29
Last Checked: Aug 29 at 9:07PM
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.
Located at 109 Magwood Drive in Summerville, this four-unit residential property was built in 1984. The units share a consistent layout, with two bedrooms and one and a half baths in each residence. Current occupancy is 75%, and the property is offered in as-is condition.
The property is 3.7 miles from downtown Summerville and 6.5 miles from Nexton Square. Major employment centers are also within driving distance, including Boeing at 13.8 miles, Volvo at 16.1 miles, and the Joint Naval Base at 17.6 miles. Interstate 26 is 5.5 miles away, providing access to the surrounding Charleston-area market.
The property is 3.7 miles from downtown Summerville and 6.5 miles from Nexton Square. Major employment centers are also within driving distance, including Boeing at 13.8 miles, Volvo at 16.1 miles, and the Joint Naval Base at 17.6 miles. Interstate 26 is 5.5 miles away, providing access to the surrounding Charleston-area market.
Key Highlights
- Four‑unit multifamily property at 109 Magwood Drive
- Each unit includes 2 bedrooms and 1.5 baths
- 75% current occupancy
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
7.48%
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 7.48%
Second Best
Apartment 5plus
$580.9K
$508.3K – $677.8K
NOI $40,666 @ 7.0% cap · market cap 6.90%
Theoretical Best
Office A
$2.91M
$2.55M – $3.39M
NOI $203,625 @ 7.0% cap · market cap 34.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
75%
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 - The property contains two-bedroom residences with one-and-a-half baths and is being sold as-is.
Where is this quadplex located?
The property is located at 109 Magwood Drive Summerville, SC.
What is the asking price?
The asking price for this property is $589,000.
What are key features of this property?
This property features: Four‑unit multifamily property at 109 Magwood Drive; Each unit includes 2 bedrooms and 1.5 baths; 75% current occupancy
