Renovated Charleston Duplex Investment
For Sale
$1,299,000
63 Montagu Street A, Charleston, SC 29401
Income-producing duplex near MUSC, Roper Hospital, and Broad Street.
Property Size1,546 SF
Price / SF$420.12
Days on Market159
Property Features for 63 Montagu Street A
General Information
Standard status
Active
Size
1,546 SF
Total Parking Spaces
1
Property subtype
Special Purpose
Building Details
Building Size
1,546 SF
Year Built
1922
Listing Agency:
Coldwell Banker Commercial Atlantic
(843) 744-9877
Listed By:
Kristen Krause · License #83716
(843) 744-9877
Source:
Cbcworldwide
Added: Mar 27
Changed: Aug 23
Last Checked: Aug 31 at 12:33PM
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 Coldwell Banker Commercial Atlantic
Investment Insights
Based on property information with market context.
Located in downtown Charleston, 63 Montague Street is a renovated historic duplex offering immediate rental income. Situated on a corner lot, the property is within walking distance of MUSC, Roper Hospital, Colonial Lake, and Broad Street. This turnkey asset includes two units with a total of 5 bedrooms and 4 full bathrooms, along with 2 off-street parking spaces. The property combines Southern character with modern luxury. Original hardwood floors have been restored, complemented by trim work and preserved architectural details. High-end contemporary finishes include premium appliance packages, designer lighting, and custom tile and bath designs. Large windows in both units offer natural light. Designed for investors and end-users, this duplex offers the durability, efficiency, and low maintenance. Double front and rear porches provide outdoor space. The corner lot orientation enhances privacy and light exposure. The property can be operated as an income-producing investment, or individual units can be purchased separately. One unit can be owner-occupied while leasing the other. The property has long-term appreciation potential and immediate income capability. A pool is currently under construction and available at an additional cost. Furniture may be negotiated separately. The property size is 3092 square feet.
Key Highlights
- Prime downtown Charleston location: Walking distance to MUSC, Roper Hospital, Colonial Lake, and Broad Street.
- Fully renovated, income‑producing duplex: Turnkey asset with immediate rental income potential.
- Two off‑street parking spaces: A rare and valuable amenity in downtown Charleston.
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
$40,498
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
3.12%
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%
$809,960
$810.0K
Cap Rate 7%
$578,543
$578.5K
Cap Rate 9%
$449,978
$450.0K
Market Conditions
NOI Build-Up for 3,092 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
$61.2K $19.80/SF
− Vacancy
−$3.4K −$1.09/SF
EGI
$57.9K $18.71/SF
− OpEx
−$17.4K −$5.61/SF
NOI
$40.5K $13.10/SF
Area
Charleston, SC
Vacancy
5.50%
Lease Rate
$19.80 /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%
$809,960
Cap Rate 7%
$578,543
Cap Rate 9%
$449,978
Alternative Uses
Best Use
Multifamily LT 5
$578.5K
$506.2K – $675.0K
NOI $40,498 @ 7.0% cap · market cap 3.12%
Second Best
Apartment 5plus
$536.2K
$469.1K – $625.5K
NOI $37,531 @ 7.0% cap · market cap 2.89%
Theoretical Best
Office A
$836.7K
$732.2K – $976.2K
NOI $58,572 @ 7.0% cap · market cap 4.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,453
Businesses Nearby
Explore this area
Business Placement
Demographics for 29401, SC
9,145
Population
5,808
Households
1.6
Avg Household Size
38
Median Age
75%
College-Educated
96%
High-School Grad
1.5 sq mi
ZIP Area
6,097
Density / Sq Mi
$90,074
Median Household Income
$45,653
Median Earnings
$1,838
Median Rent
$1,165,900
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?
Duplex - Income-producing duplex near MUSC, Roper Hospital, and Broad Street.
Where is this duplex located?
The property is located at 63 Montagu Street A Charleston, SC.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Prime downtown Charleston location: Walking distance to MUSC, Roper Hospital, Colonial Lake, and Broad Street.; Fully renovated, income‑producing duplex: Turnkey asset with immediate rental income potential.; Two off‑street parking spaces: A rare and valuable amenity in downtown Charleston.
