End-Unit Residential Income
New
For Sale
$349,000
402 East Ave, Bluffton, SC 29910
Low-maintenance end-unit residence with a screened lanai, lagoon and wooded views, and an updated stainless-steel appliance kitchen.
Property Size1,622 SF
Price / SF$215.17
Days on Market4
Property Features for 402 East Ave
General Information
Standard status
Active
Size
1,622 SF
Total Parking Spaces
1
Property subtype
Multi-Family
Additional Details
Multifamily Units
1
Amenities
front porch
vaulted ceilings
updated kitchen
screened lanai
plantation shutters
upgraded lighting
Building Details
Year Built
2006
Listing Agency:
J & J Real Estate Investments LLC
(843) 384-3959
Listed By:
Michael Broadhurst · License #4130
(843) 837-7773
Source:
Thebroadhurstgroup
Added: Sep 20
Changed: Sep 21
Last Checked: Sep 22 at 5:24PM
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 J & J Real Estate Investments LLC
Investment Insights
Based on property information with market context.
This 1,622-square-foot end-unit residence, built in 2006, combines a bright open layout with vaulted ceilings and a main-level owner's suite. Two additional bedrooms and a loft are located upstairs, while the updated kitchen includes granite countertops, a backsplash, and stainless-steel Jenn-Air appliances. A front porch, screened lanai, plantation shutters, upgraded lighting, and a 1-car garage add to the home's functional features.
The property overlooks a lagoon and wooded area, providing added privacy and natural light. HOA coverage includes exterior maintenance and the roof, which was replaced in 2023. Located at 402 East Ave in Bluffton, the residence is positioned near shopping, dining, and medical facilities, with Old Town Bluffton and Hilton Head Island a short drive away.
The property overlooks a lagoon and wooded area, providing added privacy and natural light. HOA coverage includes exterior maintenance and the roof, which was replaced in 2023. Located at 402 East Ave in Bluffton, the residence is positioned near shopping, dining, and medical facilities, with Old Town Bluffton and Hilton Head Island a short drive away.
Key Highlights
- 1,622 SF end‑unit residence built in 2006
- Roof replaced in 2023; HOA covers exterior maintenance
- Main‑level owner's suite with two additional bedrooms upstairs
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
$17,289
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
4.95%
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%
$345,780
$345.8K
Cap Rate 7%
$246,986
$247.0K
Cap Rate 9%
$192,100
$192.1K
Market Conditions
NOI Build-Up for 1,622 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
$33.1K $20.40/SF
− Vacancy
−$1.7K −$1.02/SF
EGI
$31.4K $19.38/SF
− OpEx
−$14.1K −$8.72/SF
NOI
$17.3K $10.66/SF
Area
Beaufort County, SC
Vacancy
5.00%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
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%
$345,780
Cap Rate 7%
$246,986
Cap Rate 9%
$192,100
Alternative Uses
Best Use
Apartment 5plus
$247.0K
$216.1K – $288.2K
NOI $17,289 @ 7.0% cap · market cap 4.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$489.4K
$428.2K – $571.0K
NOI $34,257 @ 7.0% cap · market cap 9.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
192
Businesses Nearby
Explore this area
Business Placement
Demographics for 29910, SC
49,140
Population
21,169
Households
2.3
Avg Household Size
41
Median Age
46%
College-Educated
95%
High-School Grad
104.4 sq mi
ZIP Area
471
Density / Sq Mi
$96,122
Median Household Income
$41,829
Median Earnings
$1,848
Median Rent
$420,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Low-maintenance end-unit residence with a screened lanai, lagoon and wooded views, and an updated stainless-steel appliance kitchen.
Where is this residential income property located?
The property is located at 402 East Ave Bluffton, SC.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: 1,622 SF end‑unit residence built in 2006; Roof replaced in 2023; HOA covers exterior maintenance; Main‑level owner's suite with two additional bedrooms upstairs
