Renovated Historic
For Sale
$1,174,000
66 America St Unit A & B, Charleston, SC 29403
Turn-key duplex with two renovated units, each offering three bedrooms plus a flex space, with private outdoor areas.
Property Size2,800 SF
Price / SF$419.29
Days on Market190
Property Features for 66 America St Unit A & B
General Information
Standard status
Active
Size
2,800 SF
Property subtype
Multi-Family
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Building Details
Year Built
1890
Tenancy
Multi
Listing Agency:
Keller Williams Realty Charleston West Ashley
Listed By:
Jonathan Holt · License #46092
(843) 823-4078
Source:
Charlestonareapropertyguide
Added: Feb 26
Changed: Sep 3
Last Checked: Sep 4 at 7:23AM
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 Keller Williams Realty Charleston West Ashley
Investment Insights
Based on property information with market context.
This beautifully renovated historic duplex includes two separate units. Each unit features three bedrooms and a flex space that has been used as an additional fourth bedroom, providing flexible room configurations. Interiors blend classic character with modern updates, including kitchens with rich wood cabinetry, granite countertops, stainless steel appliances, and bright finishes. Throughout the units, warm hardwood floors, crisp white walls, large windows, and charming architectural details help create light-filled, inviting living spaces.
Outside, the property offers a large fenced backyard with a brick patio and porch areas associated with each unit. The home is positioned in the heart of downtown Charleston’s Eastside neighborhood, and is described as being minutes from the Cigar Factory, Lucky Luchador, the South Carolina Aquarium, and the Ravenel Bridge.
With two well-appointed, turn-key units and distinct indoor and outdoor areas, the property is set up for an owner-occupant scenario with rental income potential from the second unit.
Outside, the property offers a large fenced backyard with a brick patio and porch areas associated with each unit. The home is positioned in the heart of downtown Charleston’s Eastside neighborhood, and is described as being minutes from the Cigar Factory, Lucky Luchador, the South Carolina Aquarium, and the Ravenel Bridge.
With two well-appointed, turn-key units and distinct indoor and outdoor areas, the property is set up for an owner-occupant scenario with rental income potential from the second unit.
Key Highlights
- Historic duplex built in 1890 with 2 units in downtown Charleston’s Eastside neighborhood.
- Each unit offers 3 bedrooms plus a flex space (used as a 4th bedroom).
- Renovated kitchens with rich wood cabinetry, granite countertops, and stainless steel appliances.
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
$36,674
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
3.12%
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%
$733,480
$733.5K
Cap Rate 7%
$523,914
$523.9K
Cap Rate 9%
$407,489
$407.5K
Market Conditions
NOI Build-Up for 2,800 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
$55.4K $19.80/SF
− Vacancy
−$3.0K −$1.09/SF
EGI
$52.4K $18.71/SF
− OpEx
−$15.7K −$5.61/SF
NOI
$36.7K $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%
$733,480
Cap Rate 7%
$523,914
Cap Rate 9%
$407,489
Alternative Uses
Best Use
Multifamily LT 5
$523.9K
$458.4K – $611.2K
NOI $36,674 @ 7.0% cap · market cap 3.12%
Second Best
Apartment 5plus
$485.5K
$424.8K – $566.5K
NOI $33,987 @ 7.0% cap · market cap 2.89%
Theoretical Best
Office A
$757.7K
$663.0K – $884.0K
NOI $53,041 @ 7.0% cap · market cap 4.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
2,247
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
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Frequently Asked Questions
What type of property is this?
Duplex - Turn-key duplex with two renovated units, each offering three bedrooms plus a flex space, with private outdoor areas.
Where is this duplex located?
The property is located at 66 America St Unit A & B Charleston, SC.
What is the asking price?
The asking price for this property is $1,174,000.
What are key features of this property?
This property features: Historic duplex built in 1890 with 2 units in downtown Charleston’s Eastside neighborhood.; Each unit offers 3 bedrooms plus a flex space (used as a 4th bedroom).; Renovated kitchens with rich wood cabinetry, granite countertops, and stainless steel appliances.
