Renovated Duplex with Rear
For Sale
$350,000
6 and 8 Crescent Lane, Columbia, SC 29212
One unit is renovated and vacant, while the second is tenant-occupied through the end of August.
Property Size2,880 SF
Price / SF$121.53
Days on Market38
Property Features for 6 and 8 Crescent Lane
General Information
Standard status
Active
Size
2,880 SF
Property subtype
Duplex
Amenities
rear deck
outside storage closet
0 acres, Lot Size: 80'x78'x80'x77', Lawn: Tenant
Sewer: Tenant, Sewer: Public
Central, Heat Pump 1st Lvl, Heat Pump 2nd Lvl
Heating: Tenant, Central, Heat Pump 1st Lvl, Heat Pump 2nd Lvl
Listed on 2026-07-27
4 parking spaces, Off Street
School District: Lexington/Richland Five, Elementary School: Irmo, High School: Irmo, Middle School: Irmo
Area: Irmo/St Andrews/Ballentine, Subdivision: PALMETTO TRACE, County: Lexington, Geo Latitude: 34.087395, Geo Longitude: -81.190259
2 total units
Rent is 1450, 3 bedrooms, 7 rooms, 2 full baths
Rent is 1150, 3 bedrooms, 7 rooms, 2 full baths
4 total bathrooms, 4 full baths
Gas: Tenant, Electric: Tenant, Cable: Tenant, Trash: Tenant
Crawl Space
Water: Tenant, Public
Building Details
Year Built
1985
Listing Agency:
EXIT Realty New Horizons
(803) 678-7110
Listed By:
David Kafitz
(864) 920-0303
Source:
Blackstreaminternational
Added: Jul 27
Changed: Sep 2
Last Checked: Sep 2 at 5:34PM
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 EXIT Realty New Horizons
Investment Insights
Based on property information with market context.
This 2,880-square-foot duplex, built in 1985, contains two 1,440-square-foot units. Unit 6 is vacant following renovation work that includes new windows, luxury vinyl plank flooring, granite kitchen counters, a tile backsplash, stainless appliances, updated bathroom finishes, fresh paint, and new electrical fixtures. Unit 8 remains tenant-occupied through the end of August and retains its existing layout and finishes.
Both residences include a rear deck, an exterior storage closet, and off-street parking in front of the unit. Unit 6 also has a new concrete parking pad. The property has no HOA and is associated with Lexington-Richland School District Five. It is located near Lake Murray and approximately 20 minutes from downtown Columbia.
Both residences include a rear deck, an exterior storage closet, and off-street parking in front of the unit. Unit 6 also has a new concrete parking pad. The property has no HOA and is associated with Lexington-Richland School District Five. It is located near Lake Murray and approximately 20 minutes from downtown Columbia.
Key Highlights
- Duplex with 2,880 SF total and two 1,440 SF units
- Unit 6 renovated and vacant with new windows, LVP flooring, granite counters, and stainless appliances
- Unit 8 tenant‑occupied through the end of August
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
$30,863
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
8.82%
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%
$617,260
$617.3K
Cap Rate 7%
$440,900
$440.9K
Cap Rate 9%
$342,922
$342.9K
Market Conditions
NOI Build-Up for 2,880 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
$46.7K $16.20/SF
− Vacancy
−$2.6K −$0.89/SF
EGI
$44.1K $15.31/SF
− OpEx
−$13.2K −$4.59/SF
NOI
$30.9K $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%
$617,260
Cap Rate 7%
$440,900
Cap Rate 9%
$342,922
Alternative Uses
Best Use
Multifamily LT 5
$440.9K
$385.8K – $514.4K
NOI $30,863 @ 7.0% cap · market cap 8.82%
Second Best
Apartment 5plus
$386.1K
$337.9K – $450.5K
NOI $27,029 @ 7.0% cap · market cap 7.72%
Theoretical Best
Office A
$709.2K
$620.5K – $827.4K
NOI $49,642 @ 7.0% cap · market cap 14.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
721
Businesses Nearby
Explore this area
Business Placement
Demographics for 29212, SC
29,739
Population
13,374
Households
2.2
Avg Household Size
43
Median Age
46%
College-Educated
94%
High-School Grad
21.4 sq mi
ZIP Area
1,390
Density / Sq Mi
$74,652
Median Household Income
$45,221
Median Earnings
$1,359
Median Rent
$222,200
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 - One unit is renovated and vacant, while the second is tenant-occupied through the end of August.
Where is this duplex located?
The property is located at 6 and 8 Crescent Lane Columbia, SC.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Duplex with 2,880 SF total and two 1,440 SF units; Unit 6 renovated and vacant with new windows, LVP flooring, granite counters, and stainless appliances; Unit 8 tenant‑occupied through the end of August
