Four-Unit Quadplex with New
For Sale
Under Contract
$1,000,000
1290 Sumner Avenue, North Charleston, SC 29406
Residential Income, North Charleston, SC
Property Size5,376 SF
Lot Size0.27 Acres
Price / SF$186.01
Days on Market46
Property Features for 1290 Sumner Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
12
Rooms
Bedroom 10, Bedroom 3, Bedroom 6, Bedroom 8, Bedroom 12, Bedroom 7, Bedroom 9, Bedroom 1, Bedroom 11, Bedroom 5, Bedroom 2, Bedroom 4
Interior features
Ceiling Fan(s)
Elementary school
North Charleston
Middle school
Morningside
High school
North Charleston
Subdivision
32 - N.Charleston, Summerville, Ladson, Outside I-526
Standard status
Active Under Contract
Size
5,376 SF
Lot size
0.27 Acres
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Water source
Public
Amenities
washer/dryer hookups
shed
Building Details
Year built
2005
Floors in Building
2
Number of units
4
Listing Agency:
The Boulevard Company
(843) 806-9830
Listed By:
Cory Cockrell
(843) 806-9830
Added: Jul 15
Changed: Aug 19
Last Checked: Aug 29 at 8:06PM
MLS# 26020227
Copyright © 2026 CHS Regional MLS. 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 5,376-square-foot quadplex contains four three-bedroom, two-bathroom residences with townhome-scale floor plans. Each unit includes central air, heat-pump heating, ceiling fans, and washer/dryer hookups. The property was built in 2005, and the roof and gutters were replaced in 2022. A rear-yard shed adds storage, while the 0.27-acre site is served by public water and public sewer.
Located at 1290 Sumner Avenue in North Charleston, the property is approximately 1.5 miles from Park Circle. The four-unit configuration includes 1,344 square feet per residence, providing consistent layouts across the building. One unit is scheduled to become available September 1st, while the remaining units are occupied. Tenants pay all utilities.
Located at 1290 Sumner Avenue in North Charleston, the property is approximately 1.5 miles from Park Circle. The four-unit configuration includes 1,344 square feet per residence, providing consistent layouts across the building. One unit is scheduled to become available September 1st, while the remaining units are occupied. Tenants pay all utilities.
Key Highlights
- Four 1,344‑square‑foot units, each with 3 bedrooms and 2 bathrooms
- 5,376 square feet across a 0.27‑acre site
- Roof and gutters replaced in 2022; property built in 2005
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
$70,965
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
7.10%
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%
$1,419,300
$1.4M
Cap Rate 7%
$1,013,786
$1.0M
Cap Rate 9%
$788,500
$788.5K
Market Conditions
NOI Build-Up for 5,376 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
$108.4K $20.16/SF
− Vacancy
−$7.0K −$1.30/SF
EGI
$101.4K $18.86/SF
− OpEx
−$30.4K −$5.66/SF
NOI
$71.0K $13.20/SF
Area
North Charleston, SC
Vacancy
6.46%
Lease Rate
$20.16 /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%
$1,419,300
Cap Rate 7%
$1,013,786
Cap Rate 9%
$788,500
Alternative Uses
Best Use
Multifamily LT 5
$1.01M
$887.1K – $1.18M
NOI $70,965 @ 7.0% cap · market cap 7.10%
Second Best
Apartment 5plus
$944.8K
$826.7K – $1.10M
NOI $66,138 @ 7.0% cap · market cap 6.61%
Theoretical Best
Office A
$1.46M
$1.28M – $1.70M
NOI $102,187 @ 7.0% cap · market cap 10.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
466
Businesses Nearby
Explore this area
Business Placement
Demographics for 29406, SC
32,730
Population
14,542
Households
2.3
Avg Household Size
32
Median Age
23%
College-Educated
82%
High-School Grad
15.3 sq mi
ZIP Area
2,139
Density / Sq Mi
$50,640
Median Household Income
$36,741
Median Earnings
$1,305
Median Rent
$209,700
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?
Quadplex - Four townhome-scale residences provide three bedrooms, two bathrooms, central air, and washer/dryer hookups in each unit.
Where is this quadplex located?
The property is located at 1290 Sumner Avenue North Charleston, SC.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Four 1,344‑square‑foot units, each with 3 bedrooms and 2 bathrooms; 5,376 square feet across a 0.27‑acre site; Roof and gutters replaced in 2022; property built in 2005
