Brick Duplex With Private
New
For Sale
$245,900
305 Jennings Ave 305 & 307, Greenwood, SC 29649
Two separate residences offer matching layouts and individual access within a downtown setting.
Property Size1,935 SF
Price / SF$127.08
Days on Market5
Property Features for 305 Jennings Ave 305 & 307
General Information
Standard status
Active
Size
1,935 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1953
Buildings
1
Construction
brick
Listing Agency:
Riverstone Realty LLC
Listed By:
Sarah Lauren Muns · License #37736
(706) 951-1183
Source:
Myhomesearchtriangle
Added: Aug 30
Changed: Sep 1
Last Checked: Sep 2 at 6:40PM
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 Riverstone Realty LLC
Investment Insights
Based on property information with market context.
Built in 1953, this 1,935-square-foot brick duplex contains two separate residences, each arranged with 2 bedrooms and 1 bath. Private entrances serve both units, creating distinct living spaces within a single building. The property combines traditional brick construction with character-rich interiors and natural light.
The duplex is located in downtown Greenwood, less than 1 mile from Lander University. Its address is 305 Jennings Ave 305 & 307, Greenwood, SC 29649. The property is positioned for investment use or owner-occupancy, with one residence available for the owner and the other suited to rental use.
The duplex is located in downtown Greenwood, less than 1 mile from Lander University. Its address is 305 Jennings Ave 305 & 307, Greenwood, SC 29649. The property is positioned for investment use or owner-occupancy, with one residence available for the owner and the other suited to rental use.
Key Highlights
- Two‑unit brick duplex built in 1953
- 1,935 SF building with two 2‑bedroom, 1‑bath units
- Each residence has a private entrance
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
$9,547
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
3.88%
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%
$190,940
$190.9K
Cap Rate 7%
$136,386
$136.4K
Cap Rate 9%
$106,078
$106.1K
Market Conditions
NOI Build-Up for 1,935 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
$19.7K $10.20/SF
− Vacancy
−$6.1K −$3.15/SF
EGI
$13.6K $7.05/SF
− OpEx
−$4.1K −$2.11/SF
NOI
$9.5K $4.93/SF
Area
Greenwood County, SC
Vacancy
30.90%
Lease Rate
$10.20 /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%
$190,940
Cap Rate 7%
$136,386
Cap Rate 9%
$106,078
Alternative Uses
Best Use
Multifamily LT 5
$136.4K
$119.3K – $159.1K
NOI $9,547 @ 7.0% cap · market cap 3.88%
Second Best
Apartment 5plus
$94.9K
$83.0K – $110.7K
NOI $6,640 @ 7.0% cap · market cap 2.70%
Theoretical Best
Office A
$607.9K
$531.9K – $709.2K
NOI $42,550 @ 7.0% cap · market cap 17.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
796
Businesses Nearby
Explore this area
Business Placement
Demographics for 29649, SC
27,485
Population
11,966
Households
2.3
Avg Household Size
38
Median Age
35%
College-Educated
93%
High-School Grad
53.6 sq mi
ZIP Area
513
Density / Sq Mi
$56,268
Median Household Income
$37,221
Median Earnings
$937
Median Rent
$207,700
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?
Duplex - Two separate residences offer matching layouts and individual access within a downtown setting.
Where is this duplex located?
The property is located at 305 Jennings Ave 305 & 307 Greenwood, SC.
What is the asking price?
The asking price for this property is $245,900.
What are key features of this property?
This property features: Two‑unit brick duplex built in 1953; 1,935 SF building with two 2‑bedroom, 1‑bath units; Each residence has a private entrance
