Renovated Brick
For Sale
$269,900
1417 Fernwood Glendale Road, Spartanburg, SC 29307
MULTIFAMILY, Spartanburg, SC
Property Size2,250 SF
Price / SF$119.96
Days on Market161
Property Features for 1417 Fernwood Glendale Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 4, Bedroom 1, Bedroom 3
Parking features
Driveway
Elementary school
7-Jesse Boyd
Middle school
7-McCraken J
High school
7-Spartanburg
Elementary school district
7 Sptbg Co
Middle school district
7 Sptbg Co
High school district
7 Sptbg Co
Directions
N on East Main St, TR on Fernwood Glendale - duplex will be down on the right.
Subdivision
Spartanburg
Standard status
Active
Size
2,250 SF
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
3372
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Water source
Public
Amenities
hardwood floors
appliances
Building Details
Year built
1964
Floors in Building
1
Number of units
2
Listing Agency:
Coldwell Banker Caine Real Est · Coldwell Banker Real Estate
(864) 585-8713
Listed By:
Lindsay Blanton · License #67700
(864) 237-7291
Added: Mar 27
Changed: Sep 2
Last Checked: Sep 3 at 9:06AM
MLS# 335142
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 renovated brick duplex contains 2,250 square feet and was built in 1964. Each unit includes two bedrooms and one bathroom, along with hardwood flooring and a generously sized great room. Appliances remain with the property, supporting a straightforward transition for the next owner.
Located at 1417 Fernwood Glendale Road in Spartanburg, the property sits on the city’s eastside. Each unit is served by heat-pump heating and cooling, with public water and public sewer. Driveway parking is provided for the duplex.
Located at 1417 Fernwood Glendale Road in Spartanburg, the property sits on the city’s eastside. Each unit is served by heat-pump heating and cooling, with public water and public sewer. Driveway parking is provided for the duplex.
Key Highlights
- Renovated brick duplex with two 2‑bedroom, 1‑bath units
- 2,250 square feet on the eastside of Spartanburg
- Hardwood floors and large great rooms in both units
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
$20,110
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
7.45%
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%
$402,200
$402.2K
Cap Rate 7%
$287,286
$287.3K
Cap Rate 9%
$223,444
$223.4K
Market Conditions
NOI Build-Up for 2,250 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
$30.2K $13.44/SF
− Vacancy
−$1.5K −$0.67/SF
EGI
$28.7K $12.77/SF
− OpEx
−$8.6K −$3.83/SF
NOI
$20.1K $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%
$402,200
Cap Rate 7%
$287,286
Cap Rate 9%
$223,444
Alternative Uses
Best Use
Multifamily LT 5
$287.3K
$251.4K – $335.2K
NOI $20,110 @ 7.0% cap · market cap 7.45%
Second Best
Apartment 5plus
$264.6K
$231.6K – $308.7K
NOI $18,524 @ 7.0% cap · market cap 6.86%
Theoretical Best
Warehouse
$1.75M
$1.53M – $2.04M
NOI $122,271 @ 7.0% cap · market cap 45.30%
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
388
Businesses Nearby
Explore this area
Business Placement
Demographics for 29307, SC
19,034
Population
8,946
Households
2.1
Avg Household Size
44
Median Age
35%
College-Educated
86%
High-School Grad
44.7 sq mi
ZIP Area
426
Density / Sq Mi
$61,330
Median Household Income
$39,543
Median Earnings
$1,043
Median Rent
$207,800
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 - Two residential units feature hardwood floors, spacious great rooms, and appliances that remain with the property.
Where is this duplex located?
The property is located at 1417 Fernwood Glendale Road Spartanburg, SC.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: Renovated brick duplex with two 2‑bedroom, 1‑bath units; 2,250 square feet on the eastside of Spartanburg; Hardwood floors and large great rooms in both units
