Remodeled Triplex with Rental
For Sale
$339,900
2044 Garnet Ln, Aiken, SC 29803
UD-zoned triplex with three separate residences, resident parking, and a remodeled three-bedroom home.
Property Size3,553 SF
Price / SF$95.67
Days on Market41
Property Features for 2044 Garnet Ln
General Information
Standard status
Active
Size
3,553 SF
Property subtype
Multi-Family
Zoning
UD
Additional Details
Multifamily Units
3
Building Details
Year Built
1978
Listing Agency:
Meybohm Real Estate - Aiken
(803) 645-3325
Listed By:
Team Vikki & Brandi - Aikenhomes
Source:
Barefootbrokers
Added: Jul 21
Changed: Aug 29
Last Checked: Aug 25 at 4:04AM
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 Meybohm Real Estate - Aiken
Investment Insights
Based on property information with market context.
This 1978 triplex includes three independent rental residences on just over 1 acre. Two units are occupied, while the largest residence offers three bedrooms and two bathrooms and was remodeled approximately four years ago. That home is available for a new tenant or owner-occupant use. The residences are set back from the main roadway, with open space and ample parking for residents.
The property is located in Southside Aiken near shopping, dining, medical facilities, and major commuter routes. UD zoning supports the existing multifamily configuration and provides flexibility for rental, multigenerational, or owner-occupant use as permitted.
The property is located in Southside Aiken near shopping, dining, medical facilities, and major commuter routes. UD zoning supports the existing multifamily configuration and provides flexibility for rental, multigenerational, or owner-occupant use as permitted.
Key Highlights
- Three independent rental units on just over 1 acre
- Two units currently occupied
- Largest residence has 3 bedrooms and 2 bathrooms
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
$28,125
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
8.27%
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%
$562,500
$562.5K
Cap Rate 7%
$401,786
$401.8K
Cap Rate 9%
$312,500
$312.5K
Market Conditions
NOI Build-Up for 3,553 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
$54.6K $15.36/SF
− Vacancy
−$3.4K −$0.97/SF
EGI
$51.1K $14.39/SF
− OpEx
−$23.0K −$6.48/SF
NOI
$28.1K $7.92/SF
Area
Aiken County, SC
Vacancy
6.30%
Lease Rate
$15.36 /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%
$562,500
Cap Rate 7%
$401,786
Cap Rate 9%
$312,500
Alternative Uses
Best Use
Multifamily LT 5
$461.0K
$403.4K – $537.8K
NOI $32,270 @ 7.0% cap · market cap 9.49%
Second Best
Apartment 5plus
$401.8K
$351.6K – $468.8K
NOI $28,125 @ 7.0% cap · market cap 8.27%
Theoretical Best
Office A
$684.9K
$599.3K – $799.0K
NOI $47,940 @ 7.0% cap · market cap 14.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,008
Businesses Nearby
Explore this area
Business Placement
Demographics for 29803, SC
40,056
Population
17,920
Households
2.2
Avg Household Size
49
Median Age
45%
College-Educated
96%
High-School Grad
127.5 sq mi
ZIP Area
314
Density / Sq Mi
$82,933
Median Household Income
$42,961
Median Earnings
$1,146
Median Rent
$271,000
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?
Triplex - UD-zoned triplex with three separate residences, resident parking, and a remodeled three-bedroom home.
Where is this triplex located?
The property is located at 2044 Garnet Ln Aiken, SC.
What is the asking price?
The asking price for this property is $339,900.
What are key features of this property?
This property features: Three independent rental units on just over 1 acre; Two units currently occupied; Largest residence has 3 bedrooms and 2 bathrooms
