Duplex with Dedicated
For Sale
$1,200,000
Pending
5 Strawberry Ln A And B, Charleston, SC 29403
Elevated construction, updated systems, and recent interior improvements distinguish this two-unit property.
Property Size3,126 SF
Days on Market75
Property Features for 5 Strawberry Ln A And B
General Information
Standard status
Pending
Size
3,126 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1991
Buildings
1
Construction
Hardie Plank siding
Listing Agency:
Tift Properties
Listed By:
Tift Mitchell · License #77945
Source:
Findyourcharlestonareahome
Added: Jun 18
Changed: Aug 29
Last Checked: Aug 25 at 6:31AM
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 Tift Properties
Investment Insights
Based on property information with market context.
This two-unit property contains 3,126 square feet and was built in 1991. Physical improvements include elevated construction, Hardie Plank siding, architectural shingle roofing, updated plumbing and electrical systems, and an HVAC system installed in 2024. Appliances have been replaced, and one bathroom was renovated in 2025. Rear parking is provided for each unit with room for convenient vehicle maneuvering.
At 5 Strawberry Ln A And B in Charleston, the property is positioned one block from Hampton Park and two blocks from Upper King Street. The surrounding area includes park trails, green space, restaurants, nightlife, shopping, and destinations along the Huger Street corridor. Its North Central setting places residents near downtown amenities while retaining a residential side-street environment.
At 5 Strawberry Ln A And B in Charleston, the property is positioned one block from Hampton Park and two blocks from Upper King Street. The surrounding area includes park trails, green space, restaurants, nightlife, shopping, and destinations along the Huger Street corridor. Its North Central setting places residents near downtown amenities while retaining a residential side-street environment.
Key Highlights
- 3,126‑square‑foot duplex at 5 Strawberry Ln A And B, Charleston, SC 29403
- Built in 1991 with elevated construction and Hardie Plank siding
- HVAC system installed in 2024
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
$40,943
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
3.41%
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%
$818,860
$818.9K
Cap Rate 7%
$584,900
$584.9K
Cap Rate 9%
$454,922
$454.9K
Market Conditions
NOI Build-Up for 3,126 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
$61.9K $19.80/SF
− Vacancy
−$3.4K −$1.09/SF
EGI
$58.5K $18.71/SF
− OpEx
−$17.5K −$5.61/SF
NOI
$40.9K $13.10/SF
Area
Charleston, SC
Vacancy
5.50%
Lease Rate
$19.80 /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%
$818,860
Cap Rate 7%
$584,900
Cap Rate 9%
$454,922
Alternative Uses
Best Use
Multifamily LT 5
$584.9K
$511.8K – $682.4K
NOI $40,943 @ 7.0% cap · market cap 3.41%
Second Best
Apartment 5plus
$542.1K
$474.3K – $632.4K
NOI $37,944 @ 7.0% cap · market cap 3.16%
Theoretical Best
Office A
$845.9K
$740.2K – $986.9K
NOI $59,216 @ 7.0% cap · market cap 4.93%
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
1,711
Businesses Nearby
Explore this area
Business Placement
Demographics for 29403, SC
21,363
Population
13,013
Households
1.6
Avg Household Size
30
Median Age
57%
College-Educated
92%
High-School Grad
5.4 sq mi
ZIP Area
3,956
Density / Sq Mi
$65,689
Median Household Income
$43,421
Median Earnings
$1,658
Median Rent
$624,000
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 - Elevated construction, updated systems, and recent interior improvements distinguish this two-unit property.
Where is this duplex located?
The property is located at 5 Strawberry Ln A And B Charleston, SC.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 3,126‑square‑foot duplex at 5 Strawberry Ln A And B, Charleston, SC 29403; Built in 1991 with elevated construction and Hardie Plank siding; HVAC system installed in 2024
