Updated Duplex with Rental
For Sale
$595,000
734 Deene St, Charleston, SC 29412
Two-bedroom units, private backyards, and off-street parking support the property’s existing long-term and furnished mid-term rental uses.
Property Size1,350 SF
Price / SF$440.74
Days on Market40
Property Features for 734 Deene St
General Information
Standard status
Active
Size
1,350 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
private backyard
Building Details
Year Built
1954
Buildings
1
Tenancy
Multi
Listing Agency:
The Boulevard Company
(803) 804-8090
Listed By:
Kara Hicks · License #90996
Source:
Findhomesforsaleincharleston
Added: Jul 21
Changed: Aug 28
Last Checked: Aug 28 at 12:20PM
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 The Boulevard Company
Investment Insights
Based on property information with market context.
Located at 734 Deene St in Charleston, this 1,350-square-foot duplex contains two residences, each with two bedrooms, one bathroom, a living room, and an eat-in kitchen. Both units also offer a private backyard and ample off-street parking. The property was built in 1954.
Unit A is occupied under a long-term lease. Unit B has been updated with new flooring, interior paint, bathroom fixtures, kitchen cabinets, appliances, ceiling fans, and other improvements, and is currently operated as a furnished mid-term rental. Furniture in Unit B may convey with an acceptable offer. The roof was installed in 2019, Unit B’s HVAC was installed in 2019, and both water heaters were installed in 2025.
The property is 3 miles from Downtown Charleston, MUSC, and the College of Charleston, and 8 miles from Folly Beach. Short-term rental use should be confirmed with applicable zoning and local regulations.
Unit A is occupied under a long-term lease. Unit B has been updated with new flooring, interior paint, bathroom fixtures, kitchen cabinets, appliances, ceiling fans, and other improvements, and is currently operated as a furnished mid-term rental. Furniture in Unit B may convey with an acceptable offer. The roof was installed in 2019, Unit B’s HVAC was installed in 2019, and both water heaters were installed in 2025.
The property is 3 miles from Downtown Charleston, MUSC, and the College of Charleston, and 8 miles from Folly Beach. Short-term rental use should be confirmed with applicable zoning and local regulations.
Key Highlights
- Duplex totals 1,350 square feet with two 2‑bedroom, 1‑bath units
- Unit A has a long‑term lease in place
- Unit B recently received flooring, paint, bathroom, kitchen, appliance, and ceiling fan updates
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
$17,682
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
2.97%
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%
$353,640
$353.6K
Cap Rate 7%
$252,600
$252.6K
Cap Rate 9%
$196,467
$196.5K
Market Conditions
NOI Build-Up for 1,350 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
$26.7K $19.80/SF
− Vacancy
−$1.5K −$1.09/SF
EGI
$25.3K $18.71/SF
− OpEx
−$7.6K −$5.61/SF
NOI
$17.7K $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%
$353,640
Cap Rate 7%
$252,600
Cap Rate 9%
$196,467
Alternative Uses
Best Use
Multifamily LT 5
$252.6K
$221.0K – $294.7K
NOI $17,682 @ 7.0% cap · market cap 2.97%
Second Best
Apartment 5plus
$234.1K
$204.8K – $273.1K
NOI $16,387 @ 7.0% cap · market cap 2.75%
Theoretical Best
Office A
$365.3K
$319.7K – $426.2K
NOI $25,573 @ 7.0% cap · market cap 4.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
491
Businesses Nearby
Explore this area
Business Placement
Demographics for 29412, SC
39,687
Population
18,429
Households
2.2
Avg Household Size
40
Median Age
55%
College-Educated
96%
High-School Grad
39.2 sq mi
ZIP Area
1,012
Density / Sq Mi
$99,443
Median Household Income
$54,757
Median Earnings
$1,744
Median Rent
$458,000
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 - Two-bedroom units, private backyards, and off-street parking support the property’s existing long-term and furnished mid-term rental uses.
Where is this duplex located?
The property is located at 734 Deene St Charleston, SC.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Duplex totals 1,350 square feet with two 2‑bedroom, 1‑bath units; Unit A has a long‑term lease in place; Unit B recently received flooring, paint, bathroom, kitchen, appliance, and ceiling fan updates
