Duplex with Updated
For Sale
$325,000
2 Sunnydale Drive, Greenville, SC 29609
MULTIFAMILY, Greenville, SC
Property Size1,050 SF
Lot Size0.46 Acres
Price / SF$309.52
Days on Market68
Property Features for 2 Sunnydale Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Rooms
Bedroom 5, Bedroom 2, Bedroom 3, Bedroom 1, Bedroom 4
Elementary school district
10 (Greenville)
Middle school district
10 (Greenville)
High school district
10 (Greenville)
Directions
From N. Pleasantburg Dr., turn right on Rutherford Rd.,left on Piedmont Park Rd., right on Sunnydale Dr.
Subdivision
Greenville
Standard status
Active
Size
1,050 SF
Lot size
0.46 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2047
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1980
Floors in Building
1
Number of units
2
Listing Agency:
Open House Realty, LLC
(864) 235-5600
Listed By:
Michael Clayton · License #61939
(864) 349-9713
Added: Jun 16
Changed: Aug 20
Last Checked: Aug 22 at 4:06AM
MLS# 338426
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 duplex includes two homes on a 0.46-acre lot, with a combined property size of 1,050 square feet. One residence is vacant and features updated flooring plus a fully remodeled bathroom with a stand-up shower and tile flooring. The second home is occupied by long-term tenants who have maintained the property. A heat pump was installed in 2023, and the property also has central air conditioning.
Located at 2 Sunnydale Drive in Greenville, the property is near downtown Greenville, schools, and shopping. Public water and public sewer serve the site. Built in 1980, the duplex provides a two-residence configuration with one unit available for immediate occupancy and the other already tenant-occupied.
Located at 2 Sunnydale Drive in Greenville, the property is near downtown Greenville, schools, and shopping. Public water and public sewer serve the site. Built in 1980, the duplex provides a two-residence configuration with one unit available for immediate occupancy and the other already tenant-occupied.
Key Highlights
- Two homes configured as a duplex on 0.46 acres
- 1,050 square feet of property size
- One vacant residence with updated flooring and remodeled bathroom
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
Lease Details
2
Residential units
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two-home property with one vacant residence, one occupied residence, and public water and sewer service.
Where is this duplex located?
The property is located at 2 Sunnydale Drive 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 homes configured as a duplex on 0.46 acres; 1,050 square feet of property size; One vacant residence with updated flooring and remodeled bathroom
