Duplex with Loft Living
For Sale
$475,000
Pending
48 Lily Street, Greenville, SC 29617
Each residence provides kitchens and laundry areas across two primary living levels, plus additional loft space.
Property Size3,220 SF
Days on Market29
Property Features for 48 Lily Street
General Information
Standard status
Pending
Size
3,220 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 4BR/4.5BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$450
Amenities
laundry
covered patio
Building Details
Building Size
3,220 SF
Year Built
2026
Buildings
1
Stories
3
Units
2
Listing Agency:
Bluefield Realty Group
(864) 386-6698
Listed By:
Anthony Morgan · License #100737
Source:
Kaydangerfield
Added: Aug 2
Changed: Aug 30
Last Checked: Aug 30 at 11:37AM
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 48 Lily Street in Greenville, South Carolina, this duplex contains two residences, each offering 4 bedrooms, 4.5 bathrooms, and 2.5 stories. The property was built in 2026 and is configured with separate living areas on the first and second floors.
Within each side, the first and second levels include 2 bedrooms, 2 full bathrooms, a kitchen, and laundry facilities. A third-floor loft adds a half bathroom and opens to a covered patio finished with pavers. The multi-level arrangement provides distinct living zones within each residence while retaining shared duplex ownership.
Within each side, the first and second levels include 2 bedrooms, 2 full bathrooms, a kitchen, and laundry facilities. A third-floor loft adds a half bathroom and opens to a covered patio finished with pavers. The multi-level arrangement provides distinct living zones within each residence while retaining shared duplex ownership.
Key Highlights
- Two‑residence duplex at 48 Lily Street in Greenville, SC
- Each side includes 4 bedrooms and 4.5 bathrooms
- Each residence spans 2.5 stories
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 - Each residence provides kitchens and laundry areas across two primary living levels, plus additional loft space.
Where is this duplex located?
The property is located at 48 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: Two‑residence duplex at 48 Lily Street in Greenville, SC; Each side includes 4 bedrooms and 4.5 bathrooms; Each residence spans 2.5 stories
