Updated Duplex with Two
New
For Sale
$325,000
2 Sunnydale Dr, Greenville, SC 29609
One residence is vacant, while the other is occupied by long-term tenants.
Property Size1,050 SF
Price / SF$309.52
Days on Market6
Property Features for 2 Sunnydale Dr
General Information
Standard status
Active
Size
1,050 SF
Property subtype
Multi-Family
Building Details
Year Built
1980
Listing Agency:
Open House Realty, LLC
(864) 235-5600
Listed By:
Michael Clayton · License #61939
Source:
Greenvilleheartproperties
Added: Aug 26
Changed: Aug 31
Last Checked: Aug 31 at 7:50PM
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 Open House Realty, LLC
Investment Insights
Based on property information with market context.
This duplex includes two separate homes. One residence is vacant and features refreshed flooring plus a fully updated bathroom with tile flooring and a stand-up shower. Its heat pump was installed in 2023. The second home is occupied by long-term tenants who have maintained the property.
The property is situated in Greenville near downtown, schools, and shopping. The large lot provides additional outdoor space and is positioned within an established residential setting. Built in 1980, the property offers a combination of recent interior improvements, existing occupancy, and a second residence available for immediate use or leasing.
The property is situated in Greenville near downtown, schools, and shopping. The large lot provides additional outdoor space and is positioned within an established residential setting. Built in 1980, the property offers a combination of recent interior improvements, existing occupancy, and a second residence available for immediate use or leasing.
Key Highlights
- Two‑home duplex configuration
- Vacant residence with updated flooring and renovated bathroom
- Bathroom includes tile flooring and a stand‑up shower
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
$10,669
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
3.28%
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%
$213,380
$213.4K
Cap Rate 7%
$152,414
$152.4K
Cap Rate 9%
$118,544
$118.5K
Market Conditions
NOI Build-Up for 1,050 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
$16.1K $15.36/SF
− Vacancy
−$887 −$0.84/SF
EGI
$15.2K $14.52/SF
− OpEx
−$4.6K −$4.35/SF
NOI
$10.7K $10.16/SF
Area
Greenville County, SC
Vacancy
5.50%
Lease Rate
$15.36 /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%
$213,380
Cap Rate 7%
$152,414
Cap Rate 9%
$118,544
Alternative Uses
Best Use
Multifamily LT 5
$152.4K
$133.4K – $177.8K
NOI $10,669 @ 7.0% cap · market cap 3.28%
Second Best
Apartment 5plus
$136.4K
$119.3K – $159.1K
NOI $9,546 @ 7.0% cap · market cap 2.94%
Theoretical Best
Office A
$448.6K
$392.6K – $523.4K
NOI $31,404 @ 7.0% cap · market cap 9.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
135
Businesses Nearby
Explore this area
Business Placement
Demographics for 29609, SC
31,547
Population
14,840
Households
2.1
Avg Household Size
38
Median Age
47%
College-Educated
89%
High-School Grad
24.3 sq mi
ZIP Area
1,298
Density / Sq Mi
$64,837
Median Household Income
$42,293
Median Earnings
$1,078
Median Rent
$303,800
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 - One residence is vacant, while the other is occupied by long-term tenants.
Where is this duplex located?
The property is located at 2 Sunnydale Dr Greenville, SC.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Two‑home duplex configuration; Vacant residence with updated flooring and renovated bathroom; Bathroom includes tile flooring and a stand‑up shower
