New-Construction Duplex with
New
For Sale
$500,000
218 Old Bleachery Road, Greenville, SC 29609
Each residence includes private access, dedicated building systems, and its own garage.
Property Size2,600 SF
Days on Market7
Property Features for 218 Old Bleachery Road
General Information
Standard status
Active
Size
2,600 SF
Property subtype
Duplex
Units
Unit Mix
2 x 3BR/2.5BA
Multifamily Units
2
Parking per Unit
1
Additional Details
Road Access
Yes
Amenities
Acres: 0.18, Area: 7840.8, Square Feet: 7840.8
Roof: Architectural
Sewer: Public Sewer
Tax Annual Amount: $170
Garage Included
Cooling Included, Cooling: Central Forced, Electric
Heating Included, Heating: Electric
Contract Status Change Date: 2026-08-04, Listing Terms: None, Standard Status: Active
Parking Features: Garage
Elementary School: Cherrydale, Middle Or Junior School: Lakeview, High School: Greenville
6 total bedrooms
Building Area Total: 2600, Built in 2026, Construction Materials: Vinyl Siding, Levels: Two, New Construction, Stories: 2
City: Greenville, County Or Parish: Greenville, MLS Area Major: 061, Postal Code: 29609, State Or Province: SC, Subdivision Name: None
Number Of Units Total: 2, Parcel Number: 0156.0008015.00, Property Condition: Under Construction, Property Sub Type: Duplex
4 full bathrooms, 2 half bathrooms, 6 total bathrooms
Water Source: Public
Foundation Details: Crawl Space
Appliances: Electric Water Heater
Building Details
Building Size
2,600 SF
Year Built
2026
Buildings
1
Listing Agency:
Plenteous Real Estate, LLC
(678) 357-5242
Listed By:
Austin Ulich
(678) 357-5242
Source:
Blackstreaminternational
Added: Aug 4
Changed: Aug 9
Last Checked: Aug 9 at 8:24AM
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 Plenteous Real Estate, LLC
Investment Insights
Based on property information with market context.
Located on Old Bleachery Road, this 2026-built duplex contains two matching residences, each with 3 bedrooms, 2.5 baths, and approximately 1,300 square feet. Separate entries, 1-car garages, 200-amp electrical panels and meters, HVAC systems, and water heaters serve the units independently, with no shared circuits.
The open main levels feature white shaker cabinetry, quartz countertops, a 30x54 island, stainless steel appliances, and built-in banquette seating. Upstairs, each residence includes an owner's suite above the garage with a walk-in closet, double vanity, and tiled walk-in shower, along with two additional bedrooms, a full bath, and a dedicated laundry room. LVP flooring runs throughout without carpet. Exterior details include board-and-batten fronts, Hardie plank siding, cultured stone accents, 30-year architectural shingles, and sealed crawlspaces. Construction follows the 2021 IRC. An identical duplex is under construction next door and is also available.
The open main levels feature white shaker cabinetry, quartz countertops, a 30x54 island, stainless steel appliances, and built-in banquette seating. Upstairs, each residence includes an owner's suite above the garage with a walk-in closet, double vanity, and tiled walk-in shower, along with two additional bedrooms, a full bath, and a dedicated laundry room. LVP flooring runs throughout without carpet. Exterior details include board-and-batten fronts, Hardie plank siding, cultured stone accents, 30-year architectural shingles, and sealed crawlspaces. Construction follows the 2021 IRC. An identical duplex is under construction next door and is also available.
Key Highlights
- Two mirror‑image units with 3 bedrooms and 2.5 baths per side
- Approximately 1,300 sq ft per unit
- Each residence has a 1‑car garage, private entry, and separate utilities
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
$26,418
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
5.28%
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%
$528,360
$528.4K
Cap Rate 7%
$377,400
$377.4K
Cap Rate 9%
$293,533
$293.5K
Market Conditions
NOI Build-Up for 2,600 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
$39.9K $15.36/SF
− Vacancy
−$2.2K −$0.84/SF
EGI
$37.7K $14.52/SF
− OpEx
−$11.3K −$4.35/SF
NOI
$26.4K $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%
$528,360
Cap Rate 7%
$377,400
Cap Rate 9%
$293,533
Alternative Uses
Best Use
Multifamily LT 5
$377.4K
$330.2K – $440.3K
NOI $26,418 @ 7.0% cap · market cap 5.28%
Second Best
Apartment 5plus
$337.7K
$295.5K – $394.0K
NOI $23,638 @ 7.0% cap · market cap 4.73%
Theoretical Best
Office A
$1.11M
$972.0K – $1.30M
NOI $77,762 @ 7.0% cap · market cap 15.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
373
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 - Each residence includes private access, dedicated building systems, and its own garage.
Where is this duplex located?
The property is located at 218 Old Bleachery Road Greenville, SC.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Two mirror‑image units with 3 bedrooms and 2.5 baths per side; Approximately 1,300 sq ft per unit; Each residence has a 1‑car garage, private entry, and separate utilities
