Updated Duplex with Large
For Sale
$304,900
129 Pisgah Drive, Spartanburg, SC 29303
MULTIFAMILY, Spartanburg, SC
Property Size2,058 SF
Lot Size0.75 Acres
Price / SF$148.15
Days on Market96
Property Features for 129 Pisgah Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Driveway
Subdivision
Pisgah Forest
Elementary school
2-Hendrix Elem
Middle school
2-Boiling Springs
High school
2-Boiling Springs
Elementary school district
2 Sptbg Co
Middle school district
2 Sptbg Co
High school district
2 Sptbg Co
Directions
From Interstate 85, take exit 72 for US-176 toward Inman, head west on Asheville Highway, continue for about 2 miles, then turn left onto Monks Church Grove Rd, take a right on Pisgah Drive and follow it to 129 Pisgah Dr on your left.
Standard status
Active
Size
2,058 SF
Lot size
0.75 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6149
Utilities
Sewer type
Septic Tank
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump, Central Air
Water source
Public
Amenities
yard
landscaping
patio
Building Details
Floors in Building
1
Number of units
2
Listing Agency:
Affinity Group Realty
(864) 921-2220
Listed By:
Ruslan Barabolkin
(864) 432-6565
Added: May 28
Changed: Aug 30
Last Checked: Aug 31 at 9:06PM
MLS# 337719
Copyright © 2026 Spartanburg Association of REALTORS, Inc. 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 duplex contains 2,058 square feet on a 0.75-acre lot, with a large yard, updated landscaping, and a backyard patio. Major property improvements include a new roof, new HVAC units, and new gutters. Heating is provided by a heat pump, while cooling includes heat pump and central air systems.
The property has driveway parking, public water, and a septic tank. With no HOA or restrictions, the layout supports either owner occupancy with rental income from the second unit or continued use as a two-unit rental property.
The property has driveway parking, public water, and a septic tank. With no HOA or restrictions, the layout supports either owner occupancy with rental income from the second unit or continued use as a two-unit rental property.
Key Highlights
- 2,058‑square‑foot duplex on a 0.75‑acre lot
- New roof, HVAC units, and 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 residential property with recent major improvements, outdoor space, and no HOA or use restrictions.
Where is this duplex located?
The property is located at 129 Pisgah Drive 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; New roof, HVAC units, and gutters; Large yard with fresh landscaping and backyard patio
