Two-Suite Residential Income
New
For Sale
$209,000
224 Dillard Mill Dr, Bluffton, SC 29909
Townhome layout includes two master suites and access to a community lazy river.
Property Size1,024 SF
Price / SF$204.10
Days on Market2
Property Features for 224 Dillard Mill Dr
General Information
Standard status
Active
Size
1,024 SF
Property subtype
Multi-Family
Amenities
lazy river
Building Details
Year Built
2007
Listing Agency:
Inc - Bluffton
(843) 815-6800
Listed By:
Michael Broadhurst · License #4130
(843) 837-7773
Source:
Thebroadhurstgroup
Added: Sep 9
Last Checked: Sep 9 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 Inc - Bluffton
Investment Insights
Based on property information with market context.
This 1,024-square-foot townhome in Bluffton, South Carolina, was built in 2007 and remains in its original condition. The layout includes two master suites, providing distinct private bedroom suites within the residence. The property is described as clean and move-in ready.
Residents have access to a community featuring a lazy river and additional amenities. The home is located at 224 Dillard Mill Dr in Bluffton, SC 29909.
Residents have access to a community featuring a lazy river and additional amenities. The home is located at 224 Dillard Mill Dr in Bluffton, SC 29909.
Key Highlights
- 1,024‑square‑foot townhome built in 2007
- Two master suites within the residence
- Original‑condition interior described as clean and move‑in ready
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
$10,915
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
5.22%
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%
$218,300
$218.3K
Cap Rate 7%
$155,929
$155.9K
Cap Rate 9%
$121,278
$121.3K
Market Conditions
NOI Build-Up for 1,024 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
$20.9K $20.40/SF
− Vacancy
−$1.0K −$1.02/SF
EGI
$19.8K $19.38/SF
− OpEx
−$8.9K −$8.72/SF
NOI
$10.9K $10.66/SF
Area
Beaufort County, SC
Vacancy
5.00%
Lease Rate
$20.40 /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%
$218,300
Cap Rate 7%
$155,929
Cap Rate 9%
$121,278
Alternative Uses
Best Use
Apartment 5plus
$155.9K
$136.4K – $181.9K
NOI $10,915 @ 7.0% cap · market cap 5.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$309.0K
$270.3K – $360.5K
NOI $21,627 @ 7.0% cap · market cap 10.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
72
Businesses Nearby
Explore this area
Business Placement
Demographics for 29909, SC
23,621
Population
12,635
Households
1.9
Avg Household Size
68
Median Age
50%
College-Educated
98%
High-School Grad
55.7 sq mi
ZIP Area
424
Density / Sq Mi
$91,376
Median Household Income
$41,740
Median Earnings
$2,174
Median Rent
$416,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Townhome layout includes two master suites and access to a community lazy river.
Where is this residential income property located?
The property is located at 224 Dillard Mill Dr Bluffton, SC.
What is the asking price?
The asking price for this property is $209,000.
What are key features of this property?
This property features: 1,024‑square‑foot townhome built in 2007; Two master suites within the residence; Original‑condition interior described as clean and move‑in ready
