Occupied Duplex with Rental
For Sale
$265,000
1113-1115 Brown Boulevard, Lexington, SC 29073
Both units are occupied, with washer and dryer hookups in place.
Property Size1,924 SF
Price / SF$137.73
Days on Market93
Property Features for 1113-1115 Brown Boulevard
General Information
Standard status
Active
Size
1,924 SF
Property subtype
Residential Income / Duplex
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
2
Amenities
washer dryer hookups
Central Air, Window Unit(s)
No
Central, Electric
Crawl Space
Yes
2
4
Building Details
Year Built
1970
Buildings
1
Stories
1
Listing Agency:
Southern Visions Realty I LLC
(803) 359-9571
Listed By:
Angela Cash · License #133081
(803) 359-9571
Source:
Compass
Added: May 31
Changed: Aug 30
Last Checked: Aug 30 at 1:24PM
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 Southern Visions Realty I LLC
Investment Insights
Based on property information with market context.
This 1,924-square-foot duplex was built in 1970 and has both units occupied. Washer and dryer hookups are included, supporting the property’s existing residential rental configuration.
The property is located at 1113-1115 Brown Boulevard in Lexington, South Carolina, near shopping, dining, schools, and major highways. Showings are available by appointment, and tenants should not be disturbed.
The property is located at 1113-1115 Brown Boulevard in Lexington, South Carolina, near shopping, dining, schools, and major highways. Showings are available by appointment, and tenants should not be disturbed.
Key Highlights
- 1,924‑square‑foot duplex with both units currently occupied
- Existing occupancy provides immediate rental income
- Built in 1970
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
$14,960
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
5.65%
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%
$299,200
$299.2K
Cap Rate 7%
$213,714
$213.7K
Cap Rate 9%
$166,222
$166.2K
Market Conditions
NOI Build-Up for 1,924 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
$22.9K $11.88/SF
− Vacancy
−$1.5K −$0.77/SF
EGI
$21.4K $11.11/SF
− OpEx
−$6.4K −$3.33/SF
NOI
$15.0K $7.78/SF
Area
Lexington County, SC
Vacancy
6.50%
Lease Rate
$11.88 /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%
$299,200
Cap Rate 7%
$213,714
Cap Rate 9%
$166,222
Alternative Uses
Best Use
Multifamily LT 5
$213.7K
$187.0K – $249.3K
NOI $14,960 @ 7.0% cap · market cap 5.65%
Second Best
Apartment 5plus
$187.0K
$163.6K – $218.1K
NOI $13,088 @ 7.0% cap · market cap 4.94%
Theoretical Best
Office A
$516.7K
$452.1K – $602.9K
NOI $36,171 @ 7.0% cap · market cap 13.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
46
Businesses Nearby
Explore this area
Business Placement
Demographics for 29073, SC
48,653
Population
20,239
Households
2.4
Avg Household Size
37
Median Age
22%
College-Educated
89%
High-School Grad
81.8 sq mi
ZIP Area
595
Density / Sq Mi
$72,648
Median Household Income
$45,050
Median Earnings
$1,046
Median Rent
$198,100
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 - Both units are occupied, with washer and dryer hookups in place.
Where is this duplex located?
The property is located at 1113-1115 Brown Boulevard Lexington, SC.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: 1,924‑square‑foot duplex with both units currently occupied; Existing occupancy provides immediate rental income; Built in 1970
