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    Duplex with One Rented Unit Title is generated by Realmo AI

    196 MCARTHUR Street, Spartanburg, SC 29302

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    For Sale
    $159,864

    MULTI_FAMILY - Spartanburg, SC

    Property size:
    1,400 SF
    Lot size:
    0.51 Acres
    Price / SF:
    $114/SF
    Added:
    Mar 6, 2026
    Days on Market:
    92
    Last Refresh:
    Jun 6 at 4:06 am

    Property Features for 196 MCARTHUR Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    4
    Rooms
    Bedroom 3, Bedroom 2, Bedroom 4, Bedroom 1
    Standard status
    Active
    Size
    1,400 SF
    Lot size
    0.51 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    3645

    Utilities

    Sewer type
    Public Sewer
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1976
    Floors in Building
    1
    Number of units
    2
    Roof type
    Composition

    We can help!

    Listing Contact
    HARO SETIAN
    HARO SETIAN

    Listing agent HARO SETIAN License #75774

    Listing office THE HARO GROUP @ KELLER WILLIAMS HISTORIC DISTRICT 314 LLOYD STREET, ANDERSON, SC

    Listing date Mar 6, 2026

    MLS# 334332 Listing URL

    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.

    HighLights

    • Duplex with 2 units; one unit is already rented for income generation
    • Second unit is available for updates, with options to rent, live in, or renovate
    • Built in 1976 and cooled with central air
    • Public water and public sewer services
    • Roof is composition shingle
    • Includes bedrooms: Bedroom 1, Bedroom 2, Bedroom 3, and Bedroom 4

    Overview

    This duplex features two residential units on a shared lot of 0.51 acres. Public remarks indicate one unit is currently rented, while the second unit is available and described as ready for updates. The property is offered for sale as an income-generating duplex suitable for an investor, a homeowner looking to live in one unit, or an operator planning light renovations and leasing.

    The property is located at 196 MCARTHUR Street in Spartanburg, South Carolina, within an area described as convenient with access to shopping, dining, and major commutes. The listing does not provide additional frontage, traffic counts, or nearby named employers, but the stated access considerations may be relevant to prospective tenants.

    From a leasing and occupancy standpoint, the existing rented unit can support immediate income expectations, while the second unit offers flexibility depending on the buyer’s plan to renovate, rent it, or occupy it themselves. The opportunity to maintain two units under one ownership structure can also appeal to buyers seeking a straightforward residential income asset. Agent is owner; schedule a showing to review the units and confirm the condition and scope of any updates.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $18.8k $13.44
    − Vacancy −$941 −$0.67
    EGI $17.9k $12.77
    − OpEx −$5.4k −$3.83
    NOI $12.5k $8.94
    1,400 SF · lease $13.44/SF/yr · vacancy 5.00% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $178.8K
    $156.4K – $208.6K (±1% cap)
    NOI $12,513 @ 7.0% cap · market cap 7.83%
    Second Best
    Apartment 5plus
    $164.7K
    $144.1K – $192.1K (±1% cap)
    NOI $11,526 @ 7.0% cap · market cap 7.21%
    Theoretical Best
    Warehouse
    $1.09M
    $951.0K – $1.27M (±1% cap)
    NOI $76,080 @ 7.0% cap · market cap 47.59%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Real Estate Agency Building Supply Big Box & Wholesale Store Auto Repair Shop Hair Salon Pharmacy Department Store Kitchen & Bath Showroom Food Market

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Spartanburg
    County
    Spartanburg
    State
    South Carolina
    Longitude
    -81.853185
    Latitude
    34.91662

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    FAQs

    What type of property is this?
    Duplex - Duplex in Spartanburg with one unit rented and a second unit available for updates, rent, or occupancy.
    Where is this duplex located?
    The property is located at 196 MCARTHUR Street Spartanburg, SC.
    What is the asking price?
    The asking price for this property is $159,864.
    What are key features of this property?
    This property features: Duplex with 2 units; one unit is already rented for income generation; Second unit is available for updates, with options to rent, live in, or renovate; Built in 1976 and cooled with central air
    (864) 670-5478
    We can help!
    Listing Contact
    HARO SETIAN
    HARO SETIAN
    Real Estate License ID: 75774
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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