Renovated Duplex
For Sale
$450,000
Pending
2351 Sorentrue Ave, North Charleston, SC 29405
Two updated residences offer separate driveways, contemporary finishes, new appliances, and flexible occupancy options.
Property Size1,582 SF
Days on Market76
Property Features for 2351 Sorentrue Ave
General Information
Standard status
Pending
Size
1,582 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
1944
Buildings
2
Listing Agency:
AgentOwned Realty
(843) 261-7152
Listed By:
Haydee Irizarry
Source:
Findcharlestonhouses
Added: Jun 15
Changed: Aug 28
Last Checked: Aug 25 at 6:19AM
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 AgentOwned Realty
Investment Insights
Based on property information with market context.
This duplex property includes two separate residences totaling 1,582 square feet. The primary home offers 3 bedrooms, 2 bathrooms, and a covered carport, while the second residence contains 2 bedrooms and 2 bathrooms. Both homes have undergone complete renovations with contemporary finishes, new appliances, and updated interiors. Each residence is served by its own private driveway.
Built in 1944, the property is located in North Charleston, 12 minutes from downtown Charleston. Shopping, restaurants, entertainment, and major highways are accessible from the property.
Built in 1944, the property is located in North Charleston, 12 minutes from downtown Charleston. Shopping, restaurants, entertainment, and major highways are accessible from the property.
Key Highlights
- Two residences totaling 1,582 square feet
- Primary home includes 3 bedrooms, 2 bathrooms, and a covered carport
- Second residence provides 2 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
$20,883
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
4.64%
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%
$417,660
$417.7K
Cap Rate 7%
$298,329
$298.3K
Cap Rate 9%
$232,033
$232.0K
Market Conditions
NOI Build-Up for 1,582 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
$31.9K $20.16/SF
− Vacancy
−$2.1K −$1.30/SF
EGI
$29.8K $18.86/SF
− OpEx
−$8.9K −$5.66/SF
NOI
$20.9K $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%
$417,660
Cap Rate 7%
$298,329
Cap Rate 9%
$232,033
Alternative Uses
Best Use
Multifamily LT 5
$298.3K
$261.0K – $348.1K
NOI $20,883 @ 7.0% cap · market cap 4.64%
Second Best
Apartment 5plus
$278.0K
$243.3K – $324.4K
NOI $19,462 @ 7.0% cap · market cap 4.32%
Theoretical Best
Office A
$429.6K
$375.9K – $501.2K
NOI $30,071 @ 7.0% cap · market cap 6.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
582
Businesses Nearby
Explore this area
Business Placement
Demographics for 29405, SC
25,620
Population
13,058
Households
2
Avg Household Size
37
Median Age
27%
College-Educated
84%
High-School Grad
14.7 sq mi
ZIP Area
1,743
Density / Sq Mi
$54,566
Median Household Income
$35,887
Median Earnings
$1,196
Median Rent
$266,200
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 - Two updated residences offer separate driveways, contemporary finishes, new appliances, and flexible occupancy options.
Where is this duplex located?
The property is located at 2351 Sorentrue Ave North Charleston, SC.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two residences totaling 1,582 square feet; Primary home includes 3 bedrooms, 2 bathrooms, and a covered carport; Second residence provides 2 bedrooms and 2 bathrooms
