2024-Built Duplex with Fenced
For Sale
$525,000
705 W Parker Road, Greenville, SC 29611
Two separate residences feature open living areas, modern finishes, spacious kitchens, and private fenced outdoor space.
Property Size2,902 SF
Price / SF$180.91
Days on Market10
Property Features for 705 W Parker Road
General Information
Standard status
Active
Size
2,902 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2.5BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
private fenced backyard
Building Details
Year Built
2024
Listing Agency:
Judith Tellez, Exp Realty LLC
(864) 659-7355
Listed By:
XSell Upstate
(864) 659-7355
Source:
Xsellupstate
Added: Aug 23
Changed: Aug 31
Last Checked: Aug 31 at 3:13PM
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 Judith Tellez, Exp Realty LLC
Investment Insights
Based on property information with market context.
Completed in 2024, this 2,902-square-foot duplex contains two separate residences, each measuring approximately 1,450 square feet. Both sides offer three bedrooms, 2.5 baths, open-concept living areas, modern finishes, spacious kitchens, and private fenced backyards. The configuration supports separate household use within one property and provides flexibility for an owner-occupant or a two-unit rental arrangement.
The property is located at 705 W Parker Road in Greenville, near downtown Greenville and within minutes of Prisma Health, Bon Secours St. Francis, Fluor Field, Falls Park, shopping, dining, parks, major employers including BMW and Michelin, and interstate access.
The property is located at 705 W Parker Road in Greenville, near downtown Greenville and within minutes of Prisma Health, Bon Secours St. Francis, Fluor Field, Falls Park, shopping, dining, parks, major employers including BMW and Michelin, and interstate access.
Key Highlights
- 2024‑built duplex with 2,902 SF total
- Each residence offers approximately 1,450 SF, 3 bedrooms, and 2.5 baths
- Private fenced backyard for each residence
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
$29,486
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
5.62%
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%
$589,720
$589.7K
Cap Rate 7%
$421,229
$421.2K
Cap Rate 9%
$327,622
$327.6K
Market Conditions
NOI Build-Up for 2,902 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
$44.6K $15.36/SF
− Vacancy
−$2.5K −$0.84/SF
EGI
$42.1K $14.52/SF
− OpEx
−$12.6K −$4.35/SF
NOI
$29.5K $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%
$589,720
Cap Rate 7%
$421,229
Cap Rate 9%
$327,622
Alternative Uses
Best Use
Multifamily LT 5
$421.2K
$368.6K – $491.4K
NOI $29,486 @ 7.0% cap · market cap 5.62%
Second Best
Apartment 5plus
$376.9K
$329.8K – $439.7K
NOI $26,384 @ 7.0% cap · market cap 5.03%
Theoretical Best
Office A
$1.24M
$1.08M – $1.45M
NOI $86,794 @ 7.0% cap · market cap 16.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
303
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
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 - Two separate residences feature open living areas, modern finishes, spacious kitchens, and private fenced outdoor space.
Where is this duplex located?
The property is located at 705 W Parker Road Greenville, SC.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 2024‑built duplex with 2,902 SF total; Each residence offers approximately 1,450 SF, 3 bedrooms, and 2.5 baths; Private fenced backyard for each residence
