Two-Unit Duplex with
For Sale
$285,000
33 Nesbitt Dr, Inman, SC 29349
Each residence offers two bedrooms, one full bathroom, and one half bathroom with practical everyday amenities.
Property Size2,090 SF
Price / SF$136.36
Days on Market23
Property Features for 33 Nesbitt Dr
General Information
Standard status
Active
Size
2,090 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 2BR/1.5BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
central heat and air
Dishwasher
patio
range
refrigerator
storage room
washer & dryer connections
Building Details
Year Built
1979
Buildings
1
Tenancy
Multi
Listing Agency:
The W Lewis White Co Inc
(864) 542-4759
Listed By:
Claude Saleeby
Source:
Greenvilleheartproperties
Added: Aug 7
Changed: Aug 29
Last Checked: Aug 29 at 6:05PM
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 The W Lewis White Co Inc
Investment Insights
Based on property information with market context.
This 2,090-square-foot duplex, built in 1979, contains two residences of approximately 1,045 square feet per side. Each unit includes two bedrooms, one full bathroom, and one half bathroom, along with central heat and air, a dishwasher, range, refrigerator, patio, storage room, and washer and dryer connections. Both sides are leased.
The property is located in Inman, approximately 2 miles from I-26, 4 miles from I-85, and 5 miles from USC Upstate. Costco is approximately 7 miles away, while Hendrix Elementary School in Boiling Springs is approximately 3.7 miles from the property. Shopping, downtown Spartanburg, and Greenville are also identified in the surrounding context.
The property is located in Inman, approximately 2 miles from I-26, 4 miles from I-85, and 5 miles from USC Upstate. Costco is approximately 7 miles away, while Hendrix Elementary School in Boiling Springs is approximately 3.7 miles from the property. Shopping, downtown Spartanburg, and Greenville are also identified in the surrounding context.
Key Highlights
- Two‑unit duplex totaling 2,090 square feet
- Each side measures approximately 1,045 square feet
- Both units feature 2 bedrooms, 1 full bathroom, and one half bathroom
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
$18,680
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
6.55%
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%
$373,600
$373.6K
Cap Rate 7%
$266,857
$266.9K
Cap Rate 9%
$207,556
$207.6K
Market Conditions
NOI Build-Up for 2,090 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
$28.1K $13.44/SF
− Vacancy
−$1.4K −$0.67/SF
EGI
$26.7K $12.77/SF
− OpEx
−$8.0K −$3.83/SF
NOI
$18.7K $8.94/SF
Area
Spartanburg County, SC
Vacancy
5.00%
Lease Rate
$13.44 /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%
$373,600
Cap Rate 7%
$266,857
Cap Rate 9%
$207,556
Alternative Uses
Best Use
Multifamily LT 5
$266.9K
$233.5K – $311.3K
NOI $18,680 @ 7.0% cap · market cap 6.55%
Second Best
Apartment 5plus
$245.8K
$215.1K – $286.8K
NOI $17,207 @ 7.0% cap · market cap 6.04%
Theoretical Best
Warehouse
$1.62M
$1.42M – $1.89M
NOI $113,576 @ 7.0% cap · market cap 39.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
45
Businesses Nearby
Explore this area
Business Placement
Demographics for 29349, SC
36,458
Population
15,118
Households
2.4
Avg Household Size
41
Median Age
22%
College-Educated
87%
High-School Grad
76.9 sq mi
ZIP Area
474
Density / Sq Mi
$74,363
Median Household Income
$42,604
Median Earnings
$917
Median Rent
$233,400
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 - Each residence offers two bedrooms, one full bathroom, and one half bathroom with practical everyday amenities.
Where is this duplex located?
The property is located at 33 Nesbitt Dr Inman, SC.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 2,090 square feet; Each side measures approximately 1,045 square feet; Both units feature 2 bedrooms, 1 full bathroom, and one half bathroom
