Furnished Duplex with Covered
New
For Sale
$235,000
4510 Colonial Drive, Columbia, SC 29203
MULTI-FAMILY, Columbia, SC
Property Size1,400 SF
Lot Size0.16 Acres
Price / SF$167.86
Days on Market6
Property Features for 4510 Colonial Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 2, Bedroom 1, Bathroom 1
Parking
4
Parking features
Assigned, Off Street
Subdivision
COLLEGE VIEW
Elementary school
Hyatt Park
Middle school
Gibbes
High school
Eau Claire
Elementary school district
Richland One
Middle school district
Richland One
High school district
Richland One
Directions
From HWY 20 take exit 70, Head south on N. Main, turn Left on Colonial Dr., duplex is located on the left
Standard status
Active
Size
1,400 SF
Lot size
0.16 Acres
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Amenities
covered porches
additional storage
new appliances
Building Details
Year built
1940
Floors in Building
2
Number of units
2
Listing Agency:
Keller Williams Preferred · Keller Williams Realty
(803) 602-6500
Listed By:
Nicholas Grant
(803) 602-6500
Added: Aug 18
Changed: Aug 19
Last Checked: Aug 23 at 11:06AM
MLS# 641100
Copyright © 2026 Consolidated MLS, SC. 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 1,400-square-foot duplex contains two furnished residential units with new appliances, covered porches, updated plumbing, and additional storage. Central heating and central air support the property, while public water serves the building. Parking includes assigned and off-street spaces.
The upper unit is occupied under a year-long lease, while the lower unit is currently vacant. The property has also been used for short-term rentals. Located at 4510 Colonial Drive in Columbia, the site encompasses 0.164 acres and the building dates to 1940.
The upper unit is occupied under a year-long lease, while the lower unit is currently vacant. The property has also been used for short-term rentals. Located at 4510 Colonial Drive in Columbia, the site encompasses 0.164 acres and the building dates to 1940.
Key Highlights
- 1,400‑square‑foot duplex on a 0.164‑acre site
- Two fully furnished residential units
- Covered porches, updated plumbing, and additional storage
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
$15,003
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
6.38%
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%
$300,060
$300.1K
Cap Rate 7%
$214,329
$214.3K
Cap Rate 9%
$166,700
$166.7K
Market Conditions
NOI Build-Up for 1,400 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
$22.7K $16.20/SF
− Vacancy
−$1.2K −$0.89/SF
EGI
$21.4K $15.31/SF
− OpEx
−$6.4K −$4.59/SF
NOI
$15.0K $10.72/SF
Area
Columbia, SC
Vacancy
5.50%
Lease Rate
$16.20 /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%
$300,060
Cap Rate 7%
$214,329
Cap Rate 9%
$166,700
Alternative Uses
Best Use
Multifamily LT 5
$214.3K
$187.5K – $250.1K
NOI $15,003 @ 7.0% cap · market cap 6.38%
Second Best
Apartment 5plus
$187.7K
$164.2K – $219.0K
NOI $13,139 @ 7.0% cap · market cap 5.59%
Theoretical Best
Office A
$344.7K
$301.7K – $402.2K
NOI $24,132 @ 7.0% cap · market cap 10.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
319
Businesses Nearby
Explore this area
Business Placement
Demographics for 29203, SC
39,449
Population
18,815
Households
2.1
Avg Household Size
38
Median Age
22%
College-Educated
84%
High-School Grad
62.3 sq mi
ZIP Area
633
Density / Sq Mi
$42,371
Median Household Income
$30,228
Median Earnings
$1,041
Median Rent
$121,600
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 - Two furnished units include updated plumbing, storage, and new appliances.
Where is this duplex located?
The property is located at 4510 Colonial Drive Columbia, SC.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: 1,400‑square‑foot duplex on a 0.164‑acre site; Two fully furnished residential units; Covered porches, updated plumbing, and additional storage
