Occupied Two-Unit
For Sale
$249,000
1113 & 1115 Brown Boulevard, Lexington, SC 29073
MULTI-FAMILY, Lexington, SC
Property Size1,924 SF
Lot Size0.41 Acres
Price / SF$129.42
Days on Market92
Property Features for 1113 & 1115 Brown Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bedroom 4, Bedroom 2, Bedroom 3, Bathroom 1
Parking
4
Parking features
Off Street
Subdivision
CRESTVIEW FARMS
Elementary school
Saxe Gotha
Middle school
White Knoll
High school
White Knoll
Elementary school district
Lexington One
Middle school district
Lexington One
High school district
Lexington One
Directions
From Platt Springs Road, make a right on Brown Boulevard. The Duplex is located on the left
Standard status
Active
Size
1,924 SF
Lot size
0.41 Acres
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air, Window Unit(s)
Water source
Well
Building Details
Year built
1970
Floors in Building
1
Number of units
2
Listing Agency:
Southern Visions Realty I LLC
Listed By:
Angela Cash
(803) 359-9571
Added: Jun 25
Changed: Sep 12
Last Checked: Sep 24 at 4:06PM
MLS# 637210
Copyright © 2026 Consolidated MLS, SC. 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.
This 1,924-square-foot duplex contains two 2BR/1BA units on a 0.41-acre parcel in Lexington. Both units are occupied, and utilities are split between the residences. The property was built in 1970 and includes central heating, central air, window units, off-street parking, and a well water source.
Recent property work includes HVAC replacement at Unit 1113 in 2021, septic drain field replacement in 2022, and HVAC replacement at Unit 1115 in December 2025. The duplex is located at 1113 & 1115 Brown Boulevard in Lexington, SC 29073, with access to shopping, employment, schools, and major transportation corridors.
Recent property work includes HVAC replacement at Unit 1113 in 2021, septic drain field replacement in 2022, and HVAC replacement at Unit 1115 in December 2025. The duplex is located at 1113 & 1115 Brown Boulevard in Lexington, SC 29073, with access to shopping, employment, schools, and major transportation corridors.
Key Highlights
- Two 2BR/1BA units in a duplex configuration
- 1,924 square feet on a 0.41‑acre parcel
- Both units currently occupied with split utilities
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
6.01%
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 6.01%
Second Best
Apartment 5plus
$187.0K
$163.6K – $218.1K
NOI $13,088 @ 7.0% cap · market cap 5.26%
Theoretical Best
Office A
$516.7K
$452.1K – $602.9K
NOI $36,171 @ 7.0% cap · market cap 14.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Both two-bedroom residences have one bath, with split utilities and off-street parking.
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 $249,000.
What are key features of this property?
This property features: Two 2BR/1BA units in a duplex configuration; 1,924 square feet on a 0.41‑acre parcel; Both units currently occupied with split utilities
