Updated Duplex with Rental
For Sale
$595,000
734 Deene Street, Charleston, SC 29412
Residential Income, Charleston, SC
Property Size1,350 SF
Lot Size0.28 Acres
Price / SF$440.74
Days on Market48
Property Features for 734 Deene Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Rooms
Bedroom 1, Bedroom 4, Bedroom 3, Bedroom 2
Interior features
Ceiling Fan(s)
Subdivision
Bayfront
Elementary school
Harbor View
Middle school
Camp Road
High school
James Island Charter
Directions
From Folly Road Turn Onto Hunley Ave. Turn Right Onto Deene Street. Property Is On The Left.
Standard status
Active
Size
1,350 SF
Lot size
0.28 Acres
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Window Unit(s), Central Air
Water source
Public
Amenities
private backyard
Building Details
Year built
1954
Floors in Building
1
Number of units
2
Building materials
Brick
Listing Agency:
The Boulevard Company
(843) 806-9830
Listed By:
Kara Hicks · License #90996
(803) 804-8090
Added: Aug 6
Changed: Sep 13
Last Checked: Sep 22 at 11:06PM
MLS# 26022490
Copyright © 2026 CHS Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,350-square-foot duplex, built in 1954, contains two two-bedroom, one-bath units. Each residence includes a living room, eat-in kitchen, ceiling fans, and a private backyard, with brick construction, public water, and public sewer. Off-street parking serves the property. One unit is occupied under a long-term lease, while the second has been updated and furnished for mid-term rental use.
Recent work in the furnished unit includes flooring, paint, bathroom fixtures, kitchen cabinetry, appliances, and ceiling fans. The roof was installed in 2019, the HVAC serving that unit was installed in 2019, and both water heaters were replaced in 2025. Furniture in the furnished unit may convey with an acceptable offer. The property is approximately 3 miles from Downtown Charleston, MUSC, and the College of Charleston, and 8 miles from Folly Beach. Potential short-term rental use is subject to buyer verification of zoning and local regulations.
Recent work in the furnished unit includes flooring, paint, bathroom fixtures, kitchen cabinetry, appliances, and ceiling fans. The roof was installed in 2019, the HVAC serving that unit was installed in 2019, and both water heaters were replaced in 2025. Furniture in the furnished unit may convey with an acceptable offer. The property is approximately 3 miles from Downtown Charleston, MUSC, and the College of Charleston, and 8 miles from Folly Beach. Potential short-term rental use is subject to buyer verification of zoning and local regulations.
Key Highlights
- Two‑unit duplex with 1,350 square feet on a 0.28‑acre lot
- Each unit offers 2 bedrooms, 1 bathroom, a living room, and an eat‑in kitchen
- One side has a long‑term tenant; the other operates as a furnished mid‑term rental
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
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer private outdoor space, off-street parking, and distinct long-term and furnished rental configurations.
Where is this duplex located?
The property is located at 734 Deene Street 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: Two‑unit duplex with 1,350 square feet on a 0.28‑acre lot; Each unit offers 2 bedrooms, 1 bathroom, a living room, and an eat‑in kitchen; One side has a long‑term tenant; the other operates as a furnished mid‑term rental
