Multifamily Property with Two
For Sale
$290,000
2708 Meeting Street Road, North Charleston, SC 29405
Residential Income, North Charleston, SC
Property Size1,035 SF
Lot Size0.12 Acres
Price / SF$280.19
Days on Market23
Property Features for 2708 Meeting Street Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Rooms
Bedroom 4, Bedroom 3, Bedroom 5, Bedroom 1, Bedroom 2
Parking features
Garage
Subdivision
Chicora Place
Elementary school
Chicora
Middle school
Morningside
High school
North Charleston
Standard status
Active
Size
1,035 SF
Lot size
0.12 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
in-unit laundry
garage
Building Details
Year built
1945
Number of units
2
Listing Agency:
EXP Realty LLC
(888) 440-2798
Listed By:
Jay Greenfield
(888) 440-2798
Added: Aug 7
Changed: Aug 20
Last Checked: Aug 29 at 6:06PM
MLS# 26022550
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 multifamily property includes two detached residences on two lots, with a total property size of 1,035 square feet. The front home offers three bedrooms and one bathroom, along with in-unit laundry and parking at the front. Its HVAC condenser and water heater have been replaced, and the roof dates to 2018. The rear two-bedroom, one-bath apartment has separate laundry and a garage below that adds storage capacity. Its roof was replaced in 2025, and the water heater, HVAC air handler, and condenser have been replaced.
Each residence has its own water and electric meter. The property was built in 1945, uses public water and public sewer, and encompasses 0.12 acres. It is located in North Charleston, falls within the City of North Charleston’s B-2 General Business District, and is identified as being in an X flood zone.
Each residence has its own water and electric meter. The property was built in 1945, uses public water and public sewer, and encompasses 0.12 acres. It is located in North Charleston, falls within the City of North Charleston’s B-2 General Business District, and is identified as being in an X flood zone.
Key Highlights
- Two detached residences on two lots with 1,035 square feet of property size
- Front residence has 3 bedrooms, 1 bathroom, in‑unit laundry, and front parking
- Rear apartment includes 2 bedrooms, 1 bathroom, in‑unit laundry, and a garage below
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
$12,733
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
4.39%
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%
$254,660
$254.7K
Cap Rate 7%
$181,900
$181.9K
Cap Rate 9%
$141,478
$141.5K
Market Conditions
NOI Build-Up for 1,035 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
$24.8K $24.00/SF
− Vacancy
−$1.7K −$1.63/SF
EGI
$23.2K $22.37/SF
− OpEx
−$10.4K −$10.07/SF
NOI
$12.7K $12.30/SF
Area
North Charleston, SC
Vacancy
6.80%
Lease Rate
$24.00 /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%
$254,660
Cap Rate 7%
$181,900
Cap Rate 9%
$141,478
Alternative Uses
Best Use
Apartment 5plus
$181.9K
$159.2K – $212.2K
NOI $12,733 @ 7.0% cap · market cap 4.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$281.0K
$245.9K – $327.9K
NOI $19,673 @ 7.0% cap · market cap 6.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
406
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - Two separately metered dwellings include individual laundry, dedicated parking, and a garage beneath the rear unit.
Where is this multifamily property located?
The property is located at 2708 Meeting Street Road North Charleston, SC.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Two detached residences on two lots with 1,035 square feet of property size; Front residence has 3 bedrooms, 1 bathroom, in‑unit laundry, and front parking; Rear apartment includes 2 bedrooms, 1 bathroom, in‑unit laundry, and a garage below
