Spartanburg Duplex: Investor
309 Powell Mill Road Spartanburg, SC 29301
For Sale
$255,000
MULTI_FAMILY - Spartanburg, SC
Property Size1,824 SF
Lot Size0.32 Acres
Price / SF$139.80
Days on Market124
Property Features for 309 Powell Mill Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
2
Rooms
Bedroom 5, Bedroom 1, Bedroom 3, Bedroom 4, Bedroom 2, Bedroom 6
Parking features
On Street
Standard status
Active
Size
1,824 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6354
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Water source
Public
Building Details
Floors in Building
1
Number of units
2
Listing Agency:
EXP Realty LLC
(888) 440-2798
Listed By:
Grant McDowell · License #107576
(864) 590-9019
Added: Mar 27
Changed: Jul 27
Last Checked: Jul 28 at 6:06AM
MLS# 335148
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.
Located just off Highway 29, 309 Powell Mill Rd is a well-maintained duplex providing convenient access to shopping, dining, and everyday conveniences in Spartanburg, SC. Each unit features 2 bedrooms and 1 full bathroom, with approximately 912 square feet per side, offering comfortable and functional living space for tenants. The property has durable vinyl flooring throughout. Major updates include a new roof installed in 2020 and HVAC units replaced in 2021. Situated on a 0.32-acre lot, the property offers a total of 1824 square feet of living space. This duplex offers strong income potential in a high-demand rental area. Both units are tenant occupied with leases until 2027, presenting a turnkey investment opportunity.
Key Highlights
- Turnkey duplex at 309 Powell Mill Rd with both units tenant occupied on leases until 2027
- 2‑bed, 1‑bath layout in each unit with approximately 912 SF per side
- New roof installed in 2020
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 authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
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 with both units tenant occupied on leases until 2027; 2‑bed, 1‑bath layout in each unit with approximately 912 SF per side; New roof installed in 2020
