Four-Unit Rental Property with
For Sale
$386,000
Pending
308 Belvedere Clearwater Road, North Augusta, SC 29841
MULTI_FAMILY - North Augusta, SC
Property Size3,095 SF
Lot Size0.33 Acres
Days on Market147
Property Features for 308 Belvedere Clearwater Road
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
multi
Bedrooms
7
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 3, Bathroom 1, Bathroom 4, Bedroom 2, Bedroom 7, Bedroom 5, Bedroom 3, Bathroom 5, Bedroom 1, Bathroom 2, Bedroom 4, Bedroom 6
Parking
4
Fencing
Chain Link
Subdivision
Heritage
Elementary school
Belvedere
Middle school
Paul Knox
High school
North Augusta
Directions
From Georgia Avenue in downtown North Augusta, head north for about 2.5miles. Then turn right onto Belvedere Clearwater Road 9SC-126 E) and continue for about 1.2 miles. 308 Belvedere Clearwater Road will be on your right. On the corner of Belvedere Clearwater and Verdery. It is tucked back behind some tress.
Standard status
Pending
APN
0120607008
Size
3,095 SF
Lot size
0.33 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
01206070008
Legal Description
01206070008
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Window Unit(s), Wall/Window Unit(s), Multi Units
Water source
Public
Building Details
Year built
1965
Floors in Building
1
Number of units
4
Building materials
Wood Siding
Roof type
Composition
Listing Agency:
Meybohm Commercial Properties
(706) 736-0700
Listed By:
Danielle Meikrantz · License #401159
(706) 284-8359
Added: Mar 18
Changed: Aug 10
Last Checked: Aug 11 at 6:06PM
MLS# 98254184
Copyright © 2026 Hive 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 fully leased four-unit income property includes one duplex and two detached rental units on the same parcel. The duplex contains Units A and B, and the two additional units are positioned behind the duplex with their own street addresses. Tenants are responsible for their own utilities, with ownership covering water and landscaping.
The property sits on a large shaded lot with multiple access points and ample off-street parking. One unit (312 Verdery) is furnished. Recent improvements to the duplex units include updated bathrooms, mini-split HVAC systems, and interior upgrades.
The combination of a duplex unit mix and two separate detached units provides a straightforward rental configuration with in-place occupancy. Tours are scheduled after an offer is accepted; tenants should not be disturbed.
The property sits on a large shaded lot with multiple access points and ample off-street parking. One unit (312 Verdery) is furnished. Recent improvements to the duplex units include updated bathrooms, mini-split HVAC systems, and interior upgrades.
The combination of a duplex unit mix and two separate detached units provides a straightforward rental configuration with in-place occupancy. Tours are scheduled after an offer is accepted; tenants should not be disturbed.
Key Highlights
- Fully leased 4‑unit income property in North Augusta, SC with 100% occupancy
- Duplex at 308 Belvedere Clearwater Rd: Unit A (2 bed/1 bath) and Unit B (3 bed/2 bath)
- Two additional detached rental units behind the duplex on the same parcel: 312 and 314 Verdery St
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
$28,110
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
7.28%
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%
$562,200
$562.2K
Cap Rate 7%
$401,571
$401.6K
Cap Rate 9%
$312,333
$312.3K
Market Conditions
NOI Build-Up for 3,095 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
$42.7K $13.80/SF
− Vacancy
−$2.6K −$0.83/SF
EGI
$40.2K $12.97/SF
− OpEx
−$12.0K −$3.89/SF
NOI
$28.1K $9.08/SF
Area
Aiken County, SC
Vacancy
5.98%
Lease Rate
$13.80 /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%
$562,200
Cap Rate 7%
$401,571
Cap Rate 9%
$312,333
Alternative Uses
Best Use
Multifamily LT 5
$401.6K
$351.4K – $468.5K
NOI $28,110 @ 7.0% cap · market cap 7.28%
Second Best
Apartment 5plus
$350.0K
$306.2K – $408.3K
NOI $24,499 @ 7.0% cap · market cap 6.35%
Theoretical Best
Office A
$596.6K
$522.0K – $696.0K
NOI $41,760 @ 7.0% cap · market cap 10.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
76
Businesses Nearby
Explore this area
Business Placement
Demographics for 29841, SC
32,919
Population
16,474
Households
2
Avg Household Size
40
Median Age
32%
College-Educated
93%
High-School Grad
31.9 sq mi
ZIP Area
1,032
Density / Sq Mi
$72,811
Median Household Income
$46,447
Median Earnings
$1,050
Median Rent
$186,000
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?
Quadplex - Fully leased four-unit rental property with a duplex and two detached units, tenant-paid utilities, and off-street parking.
Where is this quadplex located?
The property is located at 308 Belvedere Clearwater Road North Augusta, SC.
What is the asking price?
The asking price for this property is $386,000.
What are key features of this property?
This property features: Fully leased 4‑unit income property in North Augusta, SC with 100% occupancy; Duplex at 308 Belvedere Clearwater Rd: Unit A (2 bed/1 bath) and Unit B (3 bed/2 bath); Two additional detached rental units behind the duplex on the same parcel: 312 and 314 Verdery St
