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    Like-New Duplex with Two 2-Bed Units Title is generated by Realmo AI

    115-117 Oak Street, Greer, SC 29651

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    For Sale
    $393,000

    2021-built duplex with two leased 2-bedroom residences, updated finishes, and private backyards.

    Type:Multi-Family / Duplex
    Property size:
    2,500 SF
    Price / SF:
    $157/SF
    Added:
    May 23, 2026
    Days on Market:
    16
    Last Refresh:
    Jun 6 at 2:22 am

    Property Features for 115-117 Oak Street

    General Information

    Standard status
    Active
    Size
    2,500 SF
    Property subtype
    Multi-Family / Duplex

    Building Details

    Year Built
    2021

    We can help!

    Listing Contact
    Jason Shamis

    Listing agent Jason Shamis License #106126

    Listing office Quartermaster Properties LLC

    Listing date May 23, 2026

    Source Compass

    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 Quartermaster Properties LLC

    HighLights

    • 2021‑built 2‑story duplex with two leased 2‑bedroom, 2.5‑bath residences
    • Each unit offers approximately 1,300 sq ft of living space with private backyard space
    • Recently updated interiors: freshly painted and newer carpet throughout both units
    • Each residence includes kitchen and bath finishes, cultured marble countertops, and washer/dryer hookups
    • One unit includes a stackable washer and dryer that will convey with the property
    • Central forced cooling and electric heating, with an architectural roof and vinyl siding

    Overview

    Constructed in 2021 by Apex Development, this like-new duplex offers two spacious 2-bedroom, 2.5-bath residences, each with approximately 1,300 square feet of living space. Both units have been freshly painted and upgraded with newer carpet. Interiors include cultured marble countertops, washer/dryer hookups, and blinds throughout, with private backyard spaces attached to each residence. One unit also includes a stackable washer and dryer that will convey with the property.

    The property is located at 115–117 Oak Street in Greer, SC, and is described as less than five minutes from Greer’s downtown district. From there, residents have convenient access to restaurants, boutique shopping, parks, and major commuter routes, supporting everyday livability for tenants.

    For investors or owner-operators, this duplex is positioned as a turnkey asset because both units are currently leased, providing immediate rental income. The modern construction and low-maintenance updates may help reduce near-term upkeep while the duplex continues to serve tenants who value functional floorplans and in-home laundry accommodations. This is a straightforward acquisition for buyers seeking a maintained duplex with two income-producing units.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $38.4k $15.36
    − Vacancy −$2.1k −$0.84
    EGI $36.3k $14.52
    − OpEx −$10.9k −$4.35
    NOI $25.4k $10.16
    2,500 SF · lease $15.36/SF/yr · vacancy 5.50% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $362.9K
    $317.5K – $423.4K (±1% cap)
    NOI $25,402 @ 7.0% cap · market cap 6.46%
    Second Best
    Apartment 5plus
    $324.7K
    $284.1K – $378.8K (±1% cap)
    NOI $22,729 @ 7.0% cap · market cap 5.78%
    Theoretical Best
    Office A
    $1.07M
    $934.6K – $1.25M (±1% cap)
    NOI $74,771 @ 7.0% cap · market cap 19.03%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Greer
    County
    Greenville
    State
    South Carolina
    Longitude
    -82.22059
    Latitude
    34.940729

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    FAQs

    What type of property is this?
    Duplex - 2021-built duplex with two leased 2-bedroom residences, updated finishes, and private backyards.
    Where is this duplex located?
    The property is located at 115-117 Oak Street Greer, SC.
    What is the asking price?
    The asking price for this property is $393,000.
    What are key features of this property?
    This property features: 2021‑built 2‑story duplex with two leased 2‑bedroom, 2.5‑bath residences; Each unit offers approximately 1,300 sq ft of living space with private backyard space; Recently updated interiors: freshly painted and newer carpet throughout both units
    (843) 971-7977
    We can help!
    Listing Contact
    Jason Shamis
    Real Estate License ID: 106126
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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