Three-Unit Triplex with Public
For Sale
$390,000
2205 Russelldale Avenue, North Charleston, SC 29406
MULTI_FAMILY - North Charleston, SC
Property Size1,820 SF
Lot Size0.14 Acres
Price / SF$214.29
Days on Market52
Property Features for 2205 Russelldale Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Rooms
Bedroom 3, Bedroom 5, Bedroom 2, Bedroom 1, Bedroom 4
Subdivision
Russelldale
Elementary school
Matilda Dunston
Middle school
Morningside
High school
North Charleston
Directions
526 To Rivers Avenue East, First Right On Rebecca Street, Then Second Right On Delta Street - Property Is On The Left Corner Of Delta Street And Russelldale Ave
Standard status
Active
Size
1,820 SF
Lot size
0.14 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1964
Floors in Building
1
Number of units
3
Building materials
Block/Masonry
Roof type
Asphalt
Listing Agency:
Matt O'Neill Real Estate
(843) 654-7777
Listed By:
Elliot Sperling · License #37016
(843) 654-7777
Added: Jul 9
Changed: Aug 17
Last Checked: Aug 29 at 4:06PM
MLS# 26019700
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 three-unit triplex offers two 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit. The property is constructed with block/masonry materials and features an asphalt roof. Public water and public sewer are provided.
Located at 2205 Russelldale Avenue in North Charleston, the triplex is about a half mile from I-526, just over a mile from I-26, and roughly two miles from Park Circle. It’s also approximately two miles from Tanger Outlets, 3.5 miles from Charleston International Airport, and under six miles from downtown Charleston.
The lot size is 0.14 acres and the property size is 1,820 square feet. Rooms include multiple bedrooms across the three units.
Located at 2205 Russelldale Avenue in North Charleston, the triplex is about a half mile from I-526, just over a mile from I-26, and roughly two miles from Park Circle. It’s also approximately two miles from Tanger Outlets, 3.5 miles from Charleston International Airport, and under six miles from downtown Charleston.
The lot size is 0.14 acres and the property size is 1,820 square feet. Rooms include multiple bedrooms across the three units.
Key Highlights
- Three‑unit triplex: two 2‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath unit
- 0.14‑acre lot and 1,820 SF total property size
- Built in 1964 with block/masonry construction
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
$24,025
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
6.16%
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%
$480,500
$480.5K
Cap Rate 7%
$343,214
$343.2K
Cap Rate 9%
$266,944
$266.9K
Market Conditions
NOI Build-Up for 1,820 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
$36.7K $20.16/SF
− Vacancy
−$2.4K −$1.30/SF
EGI
$34.3K $18.86/SF
− OpEx
−$10.3K −$5.66/SF
NOI
$24.0K $13.20/SF
Area
North Charleston, SC
Vacancy
6.46%
Lease Rate
$20.16 /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%
$480,500
Cap Rate 7%
$343,214
Cap Rate 9%
$266,944
Alternative Uses
Best Use
Multifamily LT 5
$343.2K
$300.3K – $400.4K
NOI $24,025 @ 7.0% cap · market cap 6.16%
Second Best
Apartment 5plus
$319.9K
$279.9K – $373.2K
NOI $22,390 @ 7.0% cap · market cap 5.74%
Theoretical Best
Office A
$494.2K
$432.4K – $576.6K
NOI $34,595 @ 7.0% cap · market cap 8.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
665
Businesses Nearby
Explore this area
Business Placement
Demographics for 29406, SC
32,730
Population
14,542
Households
2.3
Avg Household Size
32
Median Age
23%
College-Educated
82%
High-School Grad
15.3 sq mi
ZIP Area
2,139
Density / Sq Mi
$50,640
Median Household Income
$36,741
Median Earnings
$1,305
Median Rent
$209,700
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?
Triplex - Three-unit triplex built in 1964 with public water and public sewer services.
Where is this triplex located?
The property is located at 2205 Russelldale Avenue North Charleston, SC.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: Three‑unit triplex: two 2‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath unit; 0.14‑acre lot and 1,820 SF total property size; Built in 1964 with block/masonry construction
