Spartanburg Duplex: Investor
309 Powell Mill Road Spartanburg, SC 29301
309 Powell Mill Road, Spartanburg, SC, 29301
$255,000
For Sale
$255,000
MULTI_FAMILY - Spartanburg, SC
Property Size1,824 SF
Price / SF$139.80
Days on Market103
Property Features for 309 Powell Mill Road
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bedroom 2, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 3
- Parking features
- Off Street
- Standard status
- Active
- APN
- 6-18-13-001.04
Utilities
- Heating system
- Electric (Heating)
- Cooling system
- Electric
- Water source
- Public
Building Details
- Year built
- 1960
- Floors in Building
- 1
- Number of units
- 2
Listing Agency
EXP Realty LLC
(888) 440-2798
Greenville, SC
Listed by
Grant McDowell
(864) 590-9019
Added: Apr 6 Checked: Jul 17 at 11:06 am
MLS# 1586182
Listing URL
Copyright © 2026 Greater Greenville Association of Realtors. 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 well-maintained duplex is located just off Highway 29 in Spartanburg, South Carolina, providing convenient access to shopping, dining, and other everyday conveniences. Each unit features 2 bedrooms and 1 full bathroom, with approximately 912 square feet per side. The units offer comfortable and functional living space. Durable vinyl flooring is installed throughout, making maintenance easy. A new roof was installed in 2020, and HVAC units were replaced in 2021. This property offers strong income potential in a high-demand rental area. Both units are tenant occupied with leases until 2027. This multi-family property is an investment opportunity for expanding a rental portfolio.
Key Highlights
- Turnkey duplex at 309 Powell Mill Rd in Spartanburg, built in 1960
- Each unit has 2 bedrooms and 1 full bathroom, with approximately 912 SF per side
- New roof installed in 2020
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $24.5k | $13.44 |
| − Vacancy | −$1.2k | −$0.67 |
| EGI | $23.3k | $12.77 |
| − OpEx | −$7.0k | −$3.83 |
| NOI | $16.3k | $8.94 |
1,824 SF · lease $13.44/SF/yr · vacancy 5.00% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$232.9K
$203.8K – $271.7K
NOI $16,302 @ 7.0% cap · market cap 6.39%
Second Best
Apartment 5plus
$214.5K
$187.7K – $250.3K
NOI $15,017 @ 7.0% cap · market cap 5.89%
Theoretical Best
Warehouse
$1.42M
$1.24M – $1.65M
NOI $99,121 @ 7.0% cap · market cap 38.87%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Turnkey duplex in prime location with strong income potential.
Where is this duplex located?
The property is located at 309 Powell Mill Road Spartanburg, SC.
What is the asking price?
The asking price for this property is $255,000.
What are key features of this property?
This property features: Turnkey duplex at 309 Powell Mill Rd in Spartanburg, built in 1960; Each unit has 2 bedrooms and 1 full bathroom, with approximately 912 SF per side; New roof installed in 2020
