Duplex with Rear
New
For Sale
$299,900
507 Cedar Lane Road, Greenville, SC 29611
Both residences have two bedrooms and one bathroom, with a month-to-month tenancy in place.
Property Size1,600 SF
Price / SF$187.44
Days on Market1
Property Features for 507 Cedar Lane Road
General Information
Standard status
Active
Size
1,600 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$2,245
Building Details
Building Size
1,600 SF
Buildings
1
Stories
1
Units
2
Listing Agency:
Cherokee Foothills Realty
(864) 898-2922
Listed By:
Greg McMahan
(864) 933-3713
Source:
Cherokeefoothillsrealty
Added: Oct 23
Last Checked: Oct 23 at 8:41AM
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 Cherokee Foothills Realty
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Investment Insights
Based on property information with market context.
This 1,600-square-foot duplex contains two residences, each configured with two bedrooms and one bathroom. Storage space is located at the rear of the property. The building is being sold in as-is condition.
The property is tenant-occupied under a month-to-month arrangement and is approximately eight minutes from downtown Greenville.
The property is tenant-occupied under a month-to-month arrangement and is approximately eight minutes from downtown Greenville.
Key Highlights
- Two residences, each with 2 bedrooms and 1 bathroom
- 1,600‑square‑foot duplex
- Rear storage space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,257
Cap Rate
5.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$325,140
$325.1K
Cap Rate 7%
$232,243
$232.2K
Cap Rate 9%
$180,633
$180.6K
Market Conditions
NOI Build-Up for 1,600 SF
Gross rent
$24.6K $15.36/SF
− Vacancy
−$1.4K −$0.84/SF
EGI
$23.2K $14.52/SF
− OpEx
−$7.0K −$4.35/SF
NOI
$16.3K $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 Rate 5%
$325,140
Cap Rate 7%
$232,243
Cap Rate 9%
$180,633
Alternative Uses
Best Use
Multifamily LT 5
$232.2K
$203.2K – $271.0K
NOI $16,257 @ 7.0% cap · market cap 5.42%
Second Best
Apartment 5plus
$207.8K
$181.8K – $242.4K
NOI $14,546 @ 7.0% cap · market cap 4.85%
Theoretical Best
Office A
$683.6K
$598.2K – $797.6K
NOI $47,853 @ 7.0% cap · market cap 15.96%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
366
Businesses Nearby
Explore this area
Business Placement
Demographics for 29611, SC
32,413
Population
14,620
Households
2.2
Avg Household Size
36
Median Age
19%
College-Educated
78%
High-School Grad
23.9 sq mi
ZIP Area
1,356
Density / Sq Mi
$47,046
Median Household Income
$32,272
Median Earnings
$1,092
Median Rent
$163,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences have two bedrooms and one bathroom, with a month-to-month tenancy in place.
Where is this duplex located?
The property is located at 507 Cedar Lane Road Greenville, SC.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms and 1 bathroom; 1,600‑square‑foot duplex; Rear storage space
