Duplex with Third-Floor
For Sale
$475,000
44 Lily Street, Greenville, SC 29617
Separate kitchens and laundry areas support independent living arrangements on each side.
Property Size3,220 SF
Days on Market10
Property Features for 44 Lily Street
General Information
Standard status
Active
Size
3,220 SF
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/2.5BA
Multifamily Units
2
Amenities
covered patio
Acres: 0.37, Area: 16117.2, Square Feet: 16117.2
Roof: Architectural
Sewer: Public Sewer
Tax Annual Amount: $450
Cooling Included, Cooling: Central Forced, Electric
Heating Included, Heating: Electric, Forced Air
Contract Status Change Date: 2026-08-13, Listing Terms: None, Standard Status: Active
Parking Features: Two Spaces
Elementary School: Berea, Middle Or Junior School: Berea, High School: Berea
8 total bedrooms
Building Area Total: 3220, Built in 2026, Construction Materials: Concrete, Levels: Three Or More, New Construction, Stories: 3
City: Greenville, County Or Parish: Greenville, MLS Area Major: 061, Postal Code: 29617, State Or Province: SC, Subdivision Name: None
Number Of Units Total: 2, Parcel Number: B012000102700, Property Condition: New Construction, Property Sub Type: Duplex
4 full bathrooms, 2 half bathrooms, 6 total bathrooms
Water Source: Public
Foundation Details: Slab
Appliances: Electric Water Heater
Building Details
Building Size
3,220 SF
Year Built
2026
Buildings
1
Listing Agency:
Bluefield Realty Group
(864) 386-6698
Listed By:
Anthony Morgan
(864) 386-6698
Source:
Blackstreaminternational
Added: Aug 13
Changed: Aug 21
Last Checked: Aug 21 at 9:34AM
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 Bluefield Realty Group
Investment Insights
Based on property information with market context.
Located at 44 Lily Street in Greenville, SC, this duplex provides two distinct residences, each arranged across 2.5 stories. Every side includes 2 bedrooms and 2.5 bathrooms, with a private bedroom, full bathroom, kitchen, and laundry area positioned on both the first and second floors.
A third-floor loft expands each unit’s usable space and includes a half bath plus access to a covered, pavered patio. The property was built in 2026, and its repeated layout creates consistent features across both sides while maintaining separate living areas.
A third-floor loft expands each unit’s usable space and includes a half bath plus access to a covered, pavered patio. The property was built in 2026, and its repeated layout creates consistent features across both sides while maintaining separate living areas.
Key Highlights
- Duplex with two residences, each offering 2 bedrooms and 2.5 bathrooms
- Each unit spans 2.5 stories with private living areas on the first and second floors
- Both first and second floors include a bedroom, full bathroom, kitchen, and laundry
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
$32,717
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
6.89%
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%
$654,340
$654.3K
Cap Rate 7%
$467,386
$467.4K
Cap Rate 9%
$363,522
$363.5K
Market Conditions
NOI Build-Up for 3,220 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
$49.5K $15.36/SF
− Vacancy
−$2.7K −$0.84/SF
EGI
$46.7K $14.52/SF
− OpEx
−$14.0K −$4.35/SF
NOI
$32.7K $10.16/SF
Area
Greenville County, SC
Vacancy
5.50%
Lease Rate
$15.36 /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%
$654,340
Cap Rate 7%
$467,386
Cap Rate 9%
$363,522
Alternative Uses
Best Use
Multifamily LT 5
$467.4K
$409.0K – $545.3K
NOI $32,717 @ 7.0% cap · market cap 6.89%
Second Best
Apartment 5plus
$418.2K
$365.9K – $487.9K
NOI $29,275 @ 7.0% cap · market cap 6.16%
Theoretical Best
Office A
$1.38M
$1.20M – $1.61M
NOI $96,305 @ 7.0% cap · market cap 20.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
318
Businesses Nearby
Explore this area
Business Placement
Demographics for 29617, SC
28,394
Population
11,599
Households
2.4
Avg Household Size
38
Median Age
27%
College-Educated
80%
High-School Grad
22.4 sq mi
ZIP Area
1,268
Density / Sq Mi
$54,146
Median Household Income
$35,291
Median Earnings
$1,046
Median Rent
$217,600
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?
Duplex - Separate kitchens and laundry areas support independent living arrangements on each side.
Where is this duplex located?
The property is located at 44 Lily Street Greenville, SC.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Duplex with two residences, each offering 2 bedrooms and 2.5 bathrooms; Each unit spans 2.5 stories with private living areas on the first and second floors; Both first and second floors include a bedroom, full bathroom, kitchen, and laundry
