Two-Story
For Sale
$464,900
111 Sunset Dr, Clover, SC 29710
Two-story residential income property with all units occupied.
Property Size3,360 SF
Price / SF$138.36
Days on Market38
Property Features for 111 Sunset Dr
General Information
Standard status
Active
Size
3,360 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Building Details
Year Built
1999
Buildings
1
Stories
2
Listing Agency:
Keller Williams Connected
(704) 813-6511
Listed By:
Leslie Dale · License #53631
Source:
Lewisandkirk
Added: Jul 24
Changed: Aug 29
Last Checked: Aug 25 at 5:01AM
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 Keller Williams Connected
Investment Insights
Based on property information with market context.
Built in 1999, this two-story quadplex contains 3,360 square feet configured as four 2-bedroom, 1-bath units. All units are currently occupied, providing a fully leased residential income asset at 111 Sunset Dr in Clover, South Carolina.
Key Highlights
- Four 2‑bedroom, 1‑bath units
- 3,360 square feet across two stories
- All units currently occupied
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
$30,517
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
6.56%
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%
$610,340
$610.3K
Cap Rate 7%
$435,957
$436.0K
Cap Rate 9%
$339,078
$339.1K
Market Conditions
NOI Build-Up for 3,360 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
$46.4K $13.80/SF
− Vacancy
−$2.8K −$0.83/SF
EGI
$43.6K $12.97/SF
− OpEx
−$13.1K −$3.89/SF
NOI
$30.5K $9.08/SF
Area
York County, SC
Vacancy
5.98%
Lease Rate
$13.80 /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%
$610,340
Cap Rate 7%
$435,957
Cap Rate 9%
$339,078
Alternative Uses
Best Use
Multifamily LT 5
$436.0K
$381.5K – $508.6K
NOI $30,517 @ 7.0% cap · market cap 6.56%
Second Best
Apartment 5plus
$391.8K
$342.9K – $457.1K
NOI $27,428 @ 7.0% cap · market cap 5.90%
Theoretical Best
Office A
$790.1K
$691.4K – $921.8K
NOI $55,310 @ 7.0% cap · market cap 11.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
129
Businesses Nearby
Explore this area
Business Placement
Demographics for 29710, SC
39,272
Population
15,947
Households
2.5
Avg Household Size
41
Median Age
34%
College-Educated
93%
High-School Grad
114.1 sq mi
ZIP Area
344
Density / Sq Mi
$84,558
Median Household Income
$46,479
Median Earnings
$1,396
Median Rent
$330,900
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 - Two-story residential income property with all units occupied.
Where is this quadplex located?
The property is located at 111 Sunset Dr Clover, SC.
What is the asking price?
The asking price for this property is $464,900.
What are key features of this property?
This property features: Four 2‑bedroom, 1‑bath units; 3,360 square feet across two stories; All units currently occupied
