2022 Duplex with
For Sale
$389,950
254 York Street, Chesnee, SC 29323
MULTIFAMILY, Chesnee, SC
Property Size2,598 SF
Lot Size0.23 Acres
Price / SF$150.10
Days on Market95
Property Features for 254 York Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bedroom 5, Bedroom 4, Bedroom 6, Bedroom 3, Bedroom 1
Elementary school
2-Chesnee Elem
Middle school
2-Chesnee Middle
High school
2-Chesnee High
Elementary school district
2 Sptbg Co
Middle school district
2 Sptbg Co
High school district
2 Sptbg Co
Directions
Hwy 221 to Chesnee downtown, right on York St
Subdivision
Chesnee
Standard status
Active
Size
2,598 SF
Lot size
0.23 Acres
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
2022
Floors in Building
1
Listing Agency:
Shulikov Realty & Associates
(864) 494-4748
Listed By:
Anatoly (Nathan) Shulikov · License #63658
(864) 494-4747
Added: Jun 1
Changed: Aug 20
Last Checked: Sep 3 at 7:06AM
MLS# 337831
Copyright © 2026 Spartanburg Association of REALTORS, Inc. 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.
Built in 2022, this duplex contains 2,598 square feet across two residential units on a 0.23-acre lot. Each side offers 3 bedrooms, 2 full bathrooms, and a one-car garage, providing a consistent layout across the property. Both units are occupied by tenants, and the building is served by public water and public sewer.
The property is located at 254 York Street in Chesnee, within walking distance of downtown. Mechanical features include heat pump heating and central air conditioning. The two-unit configuration, garage accommodations, and current occupancy create a straightforward multifamily asset with established residential use.
The property is located at 254 York Street in Chesnee, within walking distance of downtown. Mechanical features include heat pump heating and central air conditioning. The two-unit configuration, garage accommodations, and current occupancy create a straightforward multifamily asset with established residential use.
Key Highlights
- Two‑unit duplex totaling 2,598 square feet
- Each unit includes 3 bedrooms and 2 full bathrooms
- One‑car garage provided for each unit
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
$23,220
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
5.95%
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%
$464,400
$464.4K
Cap Rate 7%
$331,714
$331.7K
Cap Rate 9%
$258,000
$258.0K
Market Conditions
NOI Build-Up for 2,598 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
$34.9K $13.44/SF
− Vacancy
−$1.7K −$0.67/SF
EGI
$33.2K $12.77/SF
− OpEx
−$10.0K −$3.83/SF
NOI
$23.2K $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%
$464,400
Cap Rate 7%
$331,714
Cap Rate 9%
$258,000
Alternative Uses
Best Use
Multifamily LT 5
$331.7K
$290.3K – $387.0K
NOI $23,220 @ 7.0% cap · market cap 5.95%
Second Best
Apartment 5plus
$305.6K
$267.4K – $356.5K
NOI $21,389 @ 7.0% cap · market cap 5.49%
Theoretical Best
Warehouse
$2.02M
$1.76M – $2.35M
NOI $141,182 @ 7.0% cap · market cap 36.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
240
Businesses Nearby
Explore this area
Business Placement
Demographics for 29323, SC
16,488
Population
6,266
Households
2.6
Avg Household Size
41
Median Age
18%
College-Educated
92%
High-School Grad
71.0 sq mi
ZIP Area
232
Density / Sq Mi
$59,753
Median Household Income
$41,223
Median Earnings
$838
Median Rent
$187,700
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?
Duplex - Tenant-occupied two-unit property near downtown Chesnee with practical residential layouts and attached garage space.
Where is this duplex located?
The property is located at 254 York Street Chesnee, SC.
What is the asking price?
The asking price for this property is $389,950.
What are key features of this property?
This property features: Two‑unit duplex totaling 2,598 square feet; Each unit includes 3 bedrooms and 2 full bathrooms; One‑car garage provided for each unit
