Renovated Duplex with Off-Street
For Sale
$275,000
114 Kilbourne Road, Columbia, SC 29205
MULTI_FAMILY - Columbia, SC
Property Size1,505 SF
Price / SF$182.72
Days on Market148
Property Features for 114 Kilbourne Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 3, Bedroom 2, Bedroom 4
Parking
4
Parking features
Off Street
Subdivision
SHANDON
Elementary school
Rosewood
Middle school
Hand
High school
Dreher
Elementary school district
Richland One
Middle school district
Richland One
High school district
Richland One
Directions
From rosewood. turn onto Kilbourne Unit is on the right on the corner on Monroe
Standard status
Active
Size
1,505 SF
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Water source
Public
Building Details
Year built
1950
Floors in Building
1
Number of units
2
Listing Agency:
JPAR Magnolia Group
(803) 251-9855
Listed By:
Sandy Frye
(803) 360-2926
Added: Mar 18
Changed: Aug 5
Last Checked: Aug 12 at 12:06PM
MLS# 629417
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 1,505-square-foot duplex in Columbia includes two residential units and is currently leased in both residences. The property is offered as-is and features heat pump heating and cooling, public water service, and off-street parking. Major work completed in 2019 included a roof replacement, new HVAC equipment, new water heaters, flooring upgrades, refinished original flooring, updated tile tub surrounds, and refinished cast iron tubs.
The property sits in the Shandon/Rosewood corridor, with proximity to USC, Devine Street, Five Points, and Downtown Columbia. The room count includes four bedrooms and two bathrooms. Showings are available only with a ratified contract.
The property sits in the Shandon/Rosewood corridor, with proximity to USC, Devine Street, Five Points, and Downtown Columbia. The room count includes four bedrooms and two bathrooms. Showings are available only with a ratified contract.
Key Highlights
- 1,505‑square‑foot duplex with two residential units
- Both units are currently leased
- Major improvements completed in 2019
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
$16,128
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
5.86%
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%
$322,560
$322.6K
Cap Rate 7%
$230,400
$230.4K
Cap Rate 9%
$179,200
$179.2K
Market Conditions
NOI Build-Up for 1,505 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
$24.4K $16.20/SF
− Vacancy
−$1.3K −$0.89/SF
EGI
$23.0K $15.31/SF
− OpEx
−$6.9K −$4.59/SF
NOI
$16.1K $10.72/SF
Area
Columbia, SC
Vacancy
5.50%
Lease Rate
$16.20 /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%
$322,560
Cap Rate 7%
$230,400
Cap Rate 9%
$179,200
Alternative Uses
Best Use
Multifamily LT 5
$230.4K
$201.6K – $268.8K
NOI $16,128 @ 7.0% cap · market cap 5.86%
Second Best
Apartment 5plus
$201.8K
$176.6K – $235.4K
NOI $14,125 @ 7.0% cap · market cap 5.14%
Theoretical Best
Office A
$370.6K
$324.3K – $432.4K
NOI $25,941 @ 7.0% cap · market cap 9.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
437
Businesses Nearby
Explore this area
Business Placement
Demographics for 29205, SC
23,586
Population
12,792
Households
1.8
Avg Household Size
34
Median Age
66%
College-Educated
96%
High-School Grad
6.5 sq mi
ZIP Area
3,629
Density / Sq Mi
$62,197
Median Household Income
$41,660
Median Earnings
$1,100
Median Rent
$335,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are leased and feature updated mechanical systems and interior finishes.
Where is this duplex located?
The property is located at 114 Kilbourne Road Columbia, SC.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 1,505‑square‑foot duplex with two residential units; Both units are currently leased; Major improvements completed in 2019
