Tenant-Occupied
New
For Sale
$245,000
2056 Pineview Dr, Spartanburg, SC 29307
Two residential units offer established occupancy and practical in-unit features for rental operations.
Property Size1,944 SF
Price / SF$126.03
Days on Market2
Property Features for 2056 Pineview Dr
General Information
Standard status
Active
Size
1,944 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1974
Listing Agency:
The W Lewis White Co Inc
Listed By:
Claude Saleeby
(864) 542-4759
Source:
Greenvilleheartproperties
Added: Sep 13
Changed: Sep 14
Last Checked: Sep 13 at 3:12PM
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 The W Lewis White Co Inc
Investment Insights
Based on property information with market context.
Built in 1974, this duplex contains two residential units with approximately 972 square feet per side. Each unit is configured with two bedrooms and one full bathroom, along with central heat and air, a dishwasher, range, refrigerator, storage, and washer and dryer connections. The combined property size is 1,944 square feet.
Both units are tenant occupied and supported by leases. The property is located at 2056 Pineview Dr in Spartanburg, with the Eastside area, shopping, schools, and downtown Spartanburg identified in the property information.
Both units are tenant occupied and supported by leases. The property is located at 2056 Pineview Dr in Spartanburg, with the Eastside area, shopping, schools, and downtown Spartanburg identified in the property information.
Key Highlights
- Two‑unit duplex with approximately 972 square feet per side
- Each unit includes 2 bedrooms and 1 full bathroom
- 1,944‑square‑foot property built in 1974
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
$17,375
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
7.09%
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%
$347,500
$347.5K
Cap Rate 7%
$248,214
$248.2K
Cap Rate 9%
$193,056
$193.1K
Market Conditions
NOI Build-Up for 1,944 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
$26.1K $13.44/SF
− Vacancy
−$1.3K −$0.67/SF
EGI
$24.8K $12.77/SF
− OpEx
−$7.4K −$3.83/SF
NOI
$17.4K $8.94/SF
Area
Spartanburg County, SC
Vacancy
5.00%
Lease Rate
$13.44 /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%
$347,500
Cap Rate 7%
$248,214
Cap Rate 9%
$193,056
Alternative Uses
Best Use
Multifamily LT 5
$248.2K
$217.2K – $289.6K
NOI $17,375 @ 7.0% cap · market cap 7.09%
Second Best
Apartment 5plus
$228.6K
$200.1K – $266.8K
NOI $16,005 @ 7.0% cap · market cap 6.53%
Theoretical Best
Warehouse
$1.51M
$1.32M – $1.76M
NOI $105,642 @ 7.0% cap · market cap 43.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
35
Businesses Nearby
Explore this area
Business Placement
Demographics for 29307, SC
19,034
Population
8,946
Households
2.1
Avg Household Size
44
Median Age
35%
College-Educated
86%
High-School Grad
44.7 sq mi
ZIP Area
426
Density / Sq Mi
$61,330
Median Household Income
$39,543
Median Earnings
$1,043
Median Rent
$207,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer established occupancy and practical in-unit features for rental operations.
Where is this duplex located?
The property is located at 2056 Pineview Dr Spartanburg, SC.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: Two‑unit duplex with approximately 972 square feet per side; Each unit includes 2 bedrooms and 1 full bathroom; 1,944‑square‑foot property built in 1974
