Updated Multifamily Unit with Nine-Foot
For Sale
$429,900
20 Amherst Street, Charleston, SC 29403
MULTI_FAMILY - Charleston, SC
Property Size993 SF
Lot Size0.04 Acres
Price / SF$432.93
Days on Market97
Property Features for 20 Amherst Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1, Kitchen, Laundry Room, Bedroom 2, Bathroom 1
Interior features
High Ceilings, Eat-in Kitchen
Subdivision
Eastside
Elementary school
Memminger
Middle school
Courtenay
High school
Burke
Directions
Heading South On East Bay, Turn Right Onto Amherst, Home On The Right.
Standard status
Active
Size
993 SF
Lot size
0.04 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1852
Floors in Building
2
Building materials
Wood Siding
Roof type
Metal
Listing Agency:
Compass Carolinas, LLC
(803) 415-6007
Listed By:
Gentry Radwanski
(803) 415-6007
Added: May 28
Changed: Aug 12
Last Checked: Sep 1 at 8:06AM
MLS# 26015545
Copyright © 2026 CHS Regional MLS. 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 updated multifamily unit offers a 2-bedroom, 1-bath layout in a home built in 1852. Inside, you’ll find hardwood floors and 9-foot ceilings, an eat-in kitchen, and a classic decorative fireplace. The home includes Charleston-style side porches and a laundry room, with wood siding and a metal roof.
Recent upgrades support day-to-day comfort: the bathroom was renovated in 2024, HVAC and ductwork were installed in 2025, and a brand-new hot water heater was added in 2026. The metal roof was freshly resealed and painted.
Utilities and services include public water and public sewer. The property sits on a 0.04-acre lot and totals 993 square feet. HOA coverage includes property and flood insurance, water, an annual termite bond, and general maintenance.
Recent upgrades support day-to-day comfort: the bathroom was renovated in 2024, HVAC and ductwork were installed in 2025, and a brand-new hot water heater was added in 2026. The metal roof was freshly resealed and painted.
Utilities and services include public water and public sewer. The property sits on a 0.04-acre lot and totals 993 square feet. HOA coverage includes property and flood insurance, water, an annual termite bond, and general maintenance.
Key Highlights
- 2‑bedroom, 1‑bath multifamily unit built in 1852
- 9‑foot ceilings, hardwood floors, and decorative fireplace
- Bathroom renovation in 2024; HVAC and ductwork in 2025; hot water heater in 2026
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
$12,053
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
2.80%
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%
$241,060
$241.1K
Cap Rate 7%
$172,186
$172.2K
Cap Rate 9%
$133,922
$133.9K
Market Conditions
NOI Build-Up for 993 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
$23.1K $23.28/SF
− Vacancy
−$1.2K −$1.21/SF
EGI
$21.9K $22.07/SF
− OpEx
−$9.9K −$9.93/SF
NOI
$12.1K $12.14/SF
Area
Charleston, SC
Vacancy
5.20%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
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%
$241,060
Cap Rate 7%
$172,186
Cap Rate 9%
$133,922
Alternative Uses
Best Use
Apartment 5plus
$172.2K
$150.7K – $200.9K
NOI $12,053 @ 7.0% cap · market cap 2.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$268.7K
$235.1K – $313.5K
NOI $18,811 @ 7.0% cap · market cap 4.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,247
Businesses Nearby
Explore this area
Business Placement
Demographics for 29403, SC
21,363
Population
13,013
Households
1.6
Avg Household Size
30
Median Age
57%
College-Educated
92%
High-School Grad
5.4 sq mi
ZIP Area
3,956
Density / Sq Mi
$65,689
Median Household Income
$43,421
Median Earnings
$1,658
Median Rent
$624,000
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?
Multifamily property - Two-bedroom, one-bath updated multifamily unit with nine-foot ceilings, hardwood floors, and classic side porches.
Where is this multifamily property located?
The property is located at 20 Amherst Street Charleston, SC.
What is the asking price?
The asking price for this property is $429,900.
What are key features of this property?
This property features: 2‑bedroom, 1‑bath multifamily unit built in 1852; 9‑foot ceilings, hardwood floors, and decorative fireplace; Bathroom renovation in 2024; HVAC and ductwork in 2025; hot water heater in 2026
