Newer Duplex on Spacious
For Sale
$415,900
Pending
171 Sandifer Rd, Spartanburg, SC 29303
Built in 2022, this two-unit property offers newer construction, a generous yard, and flexibility for investment or owner occupancy.
Property Size2,356 SF
Days on Market27
Property Features for 171 Sandifer Rd
General Information
Standard status
Pending
Size
2,356 SF
Property subtype
Multi-Family
Listing Agency:
Affinity Group Realty
(864) 432-6565
Listed By:
Ruslan Barabolkin
Source:
Greenvilleheartproperties
Added: Aug 6
Changed: Aug 31
Last Checked: Aug 30 at 8:11PM
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 was completed in 2022 and occupies a 0.49-acre lot with a generous yard. Newer construction, modern systems, updated finishes, and low-maintenance features support practical day-to-day ownership. The property also has no HOA and no restrictive covenants.
Located minutes from Boiling Springs, the property offers flexibility for an investor seeking rental income or an owner-occupant planning to live in one unit while leasing the other. Its two-unit configuration supports both strategies without limiting the property to a single use.
Located minutes from Boiling Springs, the property offers flexibility for an investor seeking rental income or an owner-occupant planning to live in one unit while leasing the other. Its two-unit configuration supports both strategies without limiting the property to a single use.
Key Highlights
- Duplex built in 2022
- Situated on a 0.49‑acre lot
- Generous yard with room for outdoor use
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
$21,057
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
5.06%
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%
$421,140
$421.1K
Cap Rate 7%
$300,814
$300.8K
Cap Rate 9%
$233,967
$234.0K
Market Conditions
NOI Build-Up for 2,356 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
$31.7K $13.44/SF
− Vacancy
−$1.6K −$0.67/SF
EGI
$30.1K $12.77/SF
− OpEx
−$9.0K −$3.83/SF
NOI
$21.1K $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%
$421,140
Cap Rate 7%
$300,814
Cap Rate 9%
$233,967
Alternative Uses
Best Use
Multifamily LT 5
$300.8K
$263.2K – $351.0K
NOI $21,057 @ 7.0% cap · market cap 5.06%
Second Best
Apartment 5plus
$277.1K
$242.5K – $323.3K
NOI $19,397 @ 7.0% cap · market cap 4.66%
Theoretical Best
Warehouse
$1.83M
$1.60M – $2.13M
NOI $128,031 @ 7.0% cap · market cap 30.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
58
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
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Frequently Asked Questions
What type of property is this?
Duplex - Built in 2022, this two-unit property offers newer construction, a generous yard, and flexibility for investment or owner occupancy.
Where is this duplex located?
The property is located at 171 Sandifer Rd Spartanburg, SC.
What is the asking price?
The asking price for this property is $415,900.
What are key features of this property?
This property features: Duplex built in 2022; Situated on a 0.49‑acre lot; Generous yard with room for outdoor use
