Updated Duplex with
New
For Sale
$304,900
129 Pisgah Dr, Spartanburg, SC 29303
Two-unit property on a spacious residential parcel with recent exterior and mechanical improvements.
Property Size2,058 SF
Lot Size0.75 Acres
Price / SF$148.15
Days on Market6
Property Features for 129 Pisgah Dr
General Information
Standard status
Active
Size
2,058 SF
Lot size
0.75 Acres
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
huge yard
fresh landscaping
large backyard patio
Listing Agency:
Affinity Group Realty
(864) 432-6565
Listed By:
Ruslan Barabolkin
Source:
Greenvilleheartproperties
Added: Aug 26
Changed: Aug 30
Last Checked: Aug 30 at 11:54PM
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 Affinity Group Realty
Investment Insights
Based on property information with market context.
This duplex contains 2,058 square feet on a 0.75-acre lot in Spartanburg, South Carolina. The property includes a large yard, updated landscaping, and a backyard patio that expands the usable outdoor area. Recent improvements include a brand-new roof, new HVAC units, and new gutters.
The property is located at 129 Pisgah Dr and carries no HOA or stated restrictions. Its two-unit configuration supports separate occupancy within the same building, while the lot provides substantial outdoor space around the improvements.
The property is located at 129 Pisgah Dr and carries no HOA or stated restrictions. Its two-unit configuration supports separate occupancy within the same building, while the lot provides substantial outdoor space around the improvements.
Key Highlights
- 2,058‑square‑foot duplex on a 0.75‑acre lot
- Brand‑new roof, new HVAC units, and new gutters
- Large yard with fresh landscaping and backyard patio
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
$18,394
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
6.03%
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%
$367,880
$367.9K
Cap Rate 7%
$262,771
$262.8K
Cap Rate 9%
$204,378
$204.4K
Market Conditions
NOI Build-Up for 2,058 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
$27.7K $13.44/SF
− Vacancy
−$1.4K −$0.67/SF
EGI
$26.3K $12.77/SF
− OpEx
−$7.9K −$3.83/SF
NOI
$18.4K $8.94/SF
Area
Spartanburg County, SC
Vacancy
5.00%
Lease Rate
$13.44 /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%
$367,880
Cap Rate 7%
$262,771
Cap Rate 9%
$204,378
Alternative Uses
Best Use
Multifamily LT 5
$262.8K
$229.9K – $306.6K
NOI $18,394 @ 7.0% cap · market cap 6.03%
Second Best
Apartment 5plus
$242.0K
$211.8K – $282.4K
NOI $16,943 @ 7.0% cap · market cap 5.56%
Theoretical Best
Warehouse
$1.60M
$1.40M – $1.86M
NOI $111,837 @ 7.0% cap · market cap 36.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
120
Businesses Nearby
Explore this area
Business Placement
Demographics for 29303, SC
26,793
Population
10,891
Households
2.5
Avg Household Size
33
Median Age
12%
College-Educated
76%
High-School Grad
32.4 sq mi
ZIP Area
827
Density / Sq Mi
$45,713
Median Household Income
$24,506
Median Earnings
$968
Median Rent
$143,600
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 - Two-unit property on a spacious residential parcel with recent exterior and mechanical improvements.
Where is this duplex located?
The property is located at 129 Pisgah Dr Spartanburg, SC.
What is the asking price?
The asking price for this property is $304,900.
What are key features of this property?
This property features: 2,058‑square‑foot duplex on a 0.75‑acre lot; Brand‑new roof, new HVAC units, and new gutters; Large yard with fresh landscaping and backyard patio
